Rest of Africa helps drive superb sales for Shoprite
The group’s non-South African supermarkets record sales growth of 32.2%
Last year may have been a difficult year for retail in Africa but consumers still came in droves to Shoprite, which reported double-digit sales growth on the continent in the six months to December. In a welcome surprise, the group’s non-South African supermarkets recorded sales growth of 32.2% — a result that was achieved in the face of low commodity prices and forex shortages in certain countries. Africa’s largest food retailer reported a 10.7% increase in sales from its local operations supported by good festive trading. Growth on a like-for-like basis was 7.4% with internal inflation averaging 7.4% for the period. Absa Wealth & Investment Management analyst Chris Gilmour said Shoprite had done remarkably well outside of SA. "This speaks well about how well positioned they are in the rest of Africa. It’s an outstanding result," he said.
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