SOUTH AFRICA: Shoprite reports H1 sales growth
Shoprite sees overseas growth
South African supermarket operator Shoprite Holdings has booked an increase in first-half sales, boosted by sales growth from its businesses in the rest of Africa.
In a trading update, Shoprite said total turnover in the six months to the end of December grew by 9.6% to ZAR51bn (US$4.71bn). Like-for-like sales rose 4.3%, the company added.
The firm's South African supermarket unit saw sales increase by 7.6%, with internal food inflation averaging 3.8%. Shoprite's non-South African supermarkets achieved sales growth of 27.5%, or 14.9% on a constant-currency basis.
SHOPRITE HOLDINGS LIMITED
For the six months ending December 2013, the Shoprite Group grew turnover by 9.6% to about R51.0 billion. Growth in turnover on a like-for-like basis was 4.3%.
The South African supermarket operation increased sales by 7.6%. Internal food inflation averaged just 3.8% compared to the estimated official food inflation figure of 5.6%.
Christmas trading for the month of December was impacted by the closure of all RSA stores on 15 December 2013 as a mark of respect following the passing of former President Nelson Mandela. These stores were closed on the day of the funeral. It is estimated that should these stores have traded on the day, sales of some R260 million would have been generated, impacting turnover growth for the period by 0.7%
The Group's non-RSA supermarkets achieved a sales growth of 27.5% and 14.9% in constant currencies.
The Group's furniture division managed to grow sales by 10.5% for the six months to December 2013.
The above financial information has not been reviewed or reported on by Shoprite Holding's auditors. The financial results for the review period will be published on Tuesday, 25 February 2014.
Original source: Shoprite Holdings
Canadean's "Shoprite Holdings Limited : Retailing - Company Profile, SWOT & Financial Report" contains in depth information and data about the company and its operations. The profile contains a compan...
Although Shoprite’s interest is mainly focused in grocery retailing and its expansion throughout Sub- Saharan Africa, the company has successfully managed to continue to target mid to lower income con...
Agricultural Products in South Africa industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2009-13, and forecast to 2018). The p...
Introduction Food Retail in South Africa industry profile provides top-line qualitative and quantitative summary information including: market size (value 2009-13, and forecast to 2018). Th......
Grocery retailers remained the most dynamic channel in South Africa in 2013: while other channels such as such as mixed retailers and health and beauty specialist retailers, saw stronger current value...
Retail Supermarkets Nigeria Ltd, the national brand owner of Shoprite in Nigeria, has a long term vision to grow its supermarket chain in Nigeria to be as large, if not larger, than its South African ...
Since the downturn in 2009, consumers have slowly gone back to eating and spending on eating out. 2012 was no exception, with many choosing to spend in full service restaurants and cafés/bars. Eating ...
The Nigerian grocery retail environment appears to be witnessing the beginnings of a slow but steady change in its structure, with there being a shift from traditional to modern retailing. This change...
- Why Mars rice plan not just crop-ticking exercise
- Greencore's food-to-go focus paying dividends
- How Danone aims to meet its 2020 objectives
- ConAgra Foods: what could happen next? - analysis
- Interview: Ritter sees growth potential in US, EU
- Pinnacle to buy Boulder Brands in $975m deal
- Genius Foods buys UK gluten-free firm Chapel Foods
- Aryzta regional CEO steps down
- Maple Leaf Foods to cut over 400 jobs
- Hovis plans cuts amid anxiety over UK bread demand