Shoprite, Africa’s largest retailer, has announced a 10.4% increase in sales for the first quarter of its financial year, alongside the opening of 68 new stores. In its operational update, the company reported that its Supermarkets RSA segment, which includes Shoprite, Usave, Checkers, and LiquorShop, achieved a sales growth of 11.4%, slightly lower than the 13.3% growth recorded in the same quarter last year.
Internal selling price inflation has decreased, measuring 2.6% for August and September, down from 3% in July. The Supermarkets RSA segment opened 56 new stores while closing three during the quarter.
Shoprite’s non-RSA operations also saw strong performance, with merchandise sales rising by 19.7% in constant currency. Additionally, the furniture segment’s sales increased by 7.6%, bolstered by credit sales representing 14.3% of total sales.
The group is progressing towards full ownership of Pingo Delivery, enhancing its Checkers Sixty60 grocery delivery service, which boasts over 2.3 million downloads. Furthermore, Shoprite has reinitiated its share buyback program, purchasing shares worth R997 million this financial year. Since the program began in 2021, it has repurchased 12.1 million shares valued at R2.6 billion, reflecting the retailer’s robust financial strategy.