Hearing an SA CEO describe his company’s trading performance as "incredible" is about as rare as getting hold of a Covid vaccine shot. But Shoprite has pulled out all the stops, and grew sales from its local supermarkets — adjusting for SA’s booze ban — by 7.8% over the six months to end-December. Trading profit grew a handsome 18.3%. Unsurprisingly, the share has considerably outperformed the JSE’s food & drug retailers index, rallying 46% over the past six months, against the latter’s 26% gain. The FM spoke to CEO Pieter Engelbrecht.
You had a cracker time in SA — and you’ve formalised your withdrawal from Nigeria and Kenya — but is everyone in SA retail focusing on SA at the worst possible time?..
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