JOHANNESBURG - The tough economic environment is seeing the country’s largest retailer Shoprite gaining market share from its rivals.
Shoprite says it expects to report double-digit growth in full-year sales when it releases results six weeks from now.
But the grocery retailer says its margins were hit by expenses associated with promotional material as well as increased diesel costs to limit the impact of power cuts.
Total sales increased by nearly 17 percent to about R215-billion in the year to July.
Analysts say cash-strapped consumers are drawn to what they see as more affordable prices at Shoprite.