CHRIS GILMOUR: Richer customers help Checkers to stellar market share gains
No other fast-moving consumer goods retailer has produced a performance anywhere near that of Checkers during the Covid-19 pandemic
On the face of it, Shoprite should have exhibited poor results, considering that its target market is the lower end of the social spectrum, which has been disproportionately hard hit by the Covid-19 pandemic.
But the end result was far from that and Shoprite not only gained market share, but improved its operating profit margin considerably. At the bottom line, diluted headline earnings per share (HEPS) rose 10.4% and the dividend was increased 22.4%...