South Africa's Shoprite Sees Sales Up Despite Wider Africa Declines
Published on Aug 20 2019 1:00 PM in Retail tagged: Trending Posts / Africa / South Africa / shoprite / Checkers / Paywall
Shoprite Holdings has posted a 3.6% increase in group sales in the 12 months to 30 June, to R150.4 billion (€8.82 billion), however the group's non-South Africa based operations saw sales and profits slump due to 'rampant' inflation and regulatory issues.
The group said that its performance follows a 'transformational year' in 2018, with the second half of the year seeing a marked improvement; its South Africa business saw sales grow by 7.4% in the second half of the year, and by 9.4% in the final quarter alone.
'We believe that the market share gains reflected in the most recent quarter are testament to our core South African business being back to full operational strength,' the group said in a statement.
Try European Supermarket Magazine PREMIUM – 30 Day FREE Trial.
A trial subscription gives unrestricted access to all premium site content, app content, weekly email content and European Supermarket Magazine digital edition for a full 30 days. Try it now!
