Shoprite reported 16.9% growth in annual sales to R215 billion
- Despite 10.1% internal selling price inflation, discounts and value paid off
- The group added 340 stores, taking the total to 3,324 outlets
- Like-for-like sales were flat, showing constrained consumers
- However, Shoprite’s gross margin will be lower due to increased promotions
- Consumers are in distress and always on the lookout for discounts
- Shoprite SA supermarkets segment grew 17.8% overall and 10.3% like-for-like
- Shoprite spent R1.3 billion on diesel during load shedding