Shoprite’s sales break through R250bn mark

JSE-listed retail giant Shoprite surpassed the R250 billion sales mark for the first time, it announced in a statement on Tuesday morning.

Group revenue for the 52 weeks ended 29 June climbed 8.6%. Diluted headline earnings per share rose 15.8% to 1 367.2 cents, and the group declared a dividend of 781 cents – an increase of 9.7% compared to the prior period.

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“In rand terms, just our growth in sales this year equated to R20.6 billion,” says CEO Pieter Engelbrecht.

Turnover at Shoprite and Usave rose 5.9%, equating to sales growth of R6.5 billion. Checkers delivered sales growth of 13.8%, contributing an additional R11.6 billion.

Sales at the group’s on-demand ecommerce platform Sixty60 jumped 47.7%, reaching R18.9 billion.

Engelbrecht points out that Shoprite’s inflation, on a volume-weighted basis, was kept below 2%.

“Checkers’s value-focused premium offer just goes from strength to strength, continuing to gain share … taking it to an almost R100 billion brand in its own right,” he adds.

In the 52 weeks under review, the group opened 281 stores.

Greg Davies, head of wealth at Cratos Capital, noted on social media platform X that the group’s record sales demonstrate continued consumer trust and demand.

“Thanks to strong leadership, customer focus, and tireless staff, Shoprite is living up to its promise of value and accessibility – setting new standards for African retail.

“Growth like that stands out, especially with South African economic headwinds,” added Davies.

Read: Shoprite’s Usave isn’t looking to eat Boxer’s lunch

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