Shoprite defies tough market conditions

File: Shoprite has reiterated its focus on the middle-and lower-income market by subsidising basic food prices. Photo: Getty Images

JOHANNESBURG – The Shoprite Group continues to defy tough market conditions after it grew its trading profit and market share by almost 12-percent.

The retailer’s local sales, which make up over two-thirds of its business, was up by 8-percent for the year ended in June.

Africa’s largest grocery chain added over 6,000 jobs and opened 51 new stores outside South Africa.

READ: Shoprite guns for Woolworths' upmarket customers

Shoprite has reiterated its focus on the middle-and lower-income market by subsidising basic food prices.

The group says it now considers volatile, difficult trading conditions as standard and no longer exceptional.

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