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South African grocery retailer Shoprite's annual sales jump 12%
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South African grocery retailer Shoprite's annual sales jump 12%
Jul 30, 2024 12:58 AM

JOHANNESBURG, July 30 (Reuters) - South Africa's biggest

supermarket group Shoprite said on Tuesday that total

sales of merchandise for the full year jumped 12%, buoyed by new

store openings and as the majority of its store brands reported

double digit sales growth.

Shoprite's total sales from continuing operations rose to

240.7 billion rand ($13 billion), including the hyperinflation

impact in Ghana. Like-for-like sales growth for the period

measured 6.3%, with the stores acquired from Walmart ( WMT )-owned

Massmart included in like-for-like sales growth only for the

second half period.

The group's core business, Supermarkets South Africa, grew

sales by 12.3%, contributing 81% to group sales, with its

upmarket grocery chain Checkers growing sales by 12.3%. The

Checkers Sixty60 online grocery delivery business grew sales by

58.1%.

Its discount grocery brands, Shoprite and Usave, which

compete with Pick n Pay's Boxer chain, reported sales

growth of 10.7%.

The retailer, which also operates in nine countries

across Africa, opened 292 stores during the period, including 63

new format, adjacent category specialist stores such as pet,

baby and clothing, to a total of 3,639 stores from continuing

operations, it said.

Grocery retailers are diversifying their revenue streams

and aiming to capture a greater share of the retail consumer

market, spanning outdoor gear to baby clothes, strollers and pet

shops.

($1 = 18.4593 rand)

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