South Africa-based Shoprite Group saw its first-quarter turnover rise almost 10% despite what it described as continued “extremely depressed market conditions”.
For the quarter ended September 30, Shoprtite’s revenue grew 9.7%. The group’s core business, Supermarkets RSA, grew turnover by 8.5%. Shoprite said the business saw internal food deflation of 1.5% over the period, to “produce real growth of around 10%”.
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“Judging by the growth in basket size and the increase in the number of customer transactions, management believes Supermarkets RSA was able to make further gains in local market share, as market share information for the food retailing sector is no longer available, this perceived growth could not be confirmed,” the company said today (25 October).
