South Africa's Shoprite Posts Flat Like-For-Like Sales In Full Year 2017/18
South Africa-based retailer Shoprite Group has posted a 0.1% decline in like-for-like sales in its financial year ending 1 July 2018, however the group's South Africa supermarket business saw a 1.9% increase in like-for-like sales.
Like-for-like supermarket sales in the group's other African territories were down 12.0%, with this figure adjusted to exclude the impact of hyperinflation in Angola.
Total group turnover was up 3.1% to R145.3 billion (€8.77 billion) in the 12 month period, which was driven by volume growth of 2.7% and a 3.3% increase in customer numbers. If Angolan hyperinflation is excluded, the group's turnover increased by 3.6%, the company said.
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