DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5
Retail

South Africa's Shoprite Sees Sales Up 16.9% In Full Year

By Dayeeta Das
Share this article
South Africa's Shoprite Sees Sales Up 16.9% In Full Year

South African supermarket group Shoprite has reported sales growth of 16.9% to R215.0 billion (€11.1 billion) in its full financial year ended 2 July 2023.

The retail group added 340 new outlets to its network during the period to take the total to 3,324 stores from continuing operations, it said in a trading update.

The group's core business, Supermarkets RSA, achieved sales growth of 17.8% (10.3% on a like-for-like basis), accounting for 80.8% of group sales.

Checkers and Checkers Hyper reported sales growth of 18.0%, while the Shoprite and Usave banners reported sales growth of 15.6%.

The LiquorShop chain saw sales grow by 30.8%.

ADVERTISEMENT

In the first half, LiquorShop saw sales growth of 35.6%, which was elevated due to COVID-19 lockdown closures in the year before. In the second half, sales increased by 25.9%.

Store Network Expansion

Supermarkets RSA opened 301 stores, expanding the network to 2,121 stores, during the 52 weeks ended 2 July.

These include 94 stores acquired from Massmart Holdings Ltd, of which 92 stores were integrated into Shoprite, Usave and LiquorShop businesses during the second half of the financial year.

Two LiquorShop stores have not commenced trading as they await confirmation of the transfer of the liquor licenses, Shoprite added.

ADVERTISEMENT

In the non-RSA segment, supermarket sales increased by 16.4%, accounting for 9.1% of the total.

The segment’s store base increased by a net of two stores to a total of 228, operating in nine countries.

The company will release its full-year results for the period ended 2 July 2023 on 5 September 2023.

In April of this year, Shoprite announced a rebrand of its Checkers Food Services (CFS) business in South Africa, which provides wholesale services in Gauteng and the Western Cape.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.