Lockdown ban on liquor trade dents Shoprite growth
Group says sales growth in September quarter for SA stores was up 3.3% year on year, but excluding liquor sales it saw 7.2% growth
Shoprite, Africa’s largest retailer, says lockdown restrictions on the liquor trade cut sales growth in its core SA market by more than half in the September quarter, partially masking the effects of market share gains.
In a trading update coinciding with its AGM, Shoprite said sales growth in the quarter for its SA stores was up 3.3% year on year, but excluding liquor sales it saw 7.2% growth. It said it gained market share and attributed local growth to increased sales at its mid-level and upmarket Checkers stores...