Shoprite jumps as market share gains help offset pain of civil unrest
Group sales were up almost double digits in quarter to end-September, but 47 stores remain closed
15 November 2021 - 09:40
UPDATED 15 November 2021 - 15:49
Shoprite’s share price gained the most in about a year on Monday, after Africa's largest grocery retailer said quarterly sales grew by almost double digits despite civil unrest in July that caused R1.25bn in damage to property and stock.
Sales increased 9.3% to end-September, Shoprite said in a voluntary update on Monday, with its core supermarkets SA segment — represented by Shoprite, Usave, Checkers and Checkers Hyper — continuing to report market share gains...
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