Analysts expect to see a weak retail sales numbers as Statistics South Africa prepares to release the April retail trade sales figures on Wednesday.
South Africa’s retail sales rose in August as household goods, clothing and cosmetics grew, data showed on Wednesday, with recovering consumer spending a sign the economy is climbing out of a recession that has piled pressure on President Cyril Ramaphosa.
Massmart Holdings expects half-year profits to fall by as much as 26%, the South African retailer said on Monday citing muted sales growth.
After lower business confidence, retail sales data released on Wednesday has also disappointed.
Steinhoff has won more creditor support to give the South African retailer time to restructure debt totaling 9 billion euro ($11 billion) in a fight for survival.