JOHANNESBURG - South Africa’s biggest retailer is punching above its weight.
Even as food inflation cools and consumers remain under pressure, Shoprite continues to grow.
Group sales climbed 7.2% to nearly R137 billion, that’s roughly R750 million in daily turnover.
Supermarkets South Africa was the engine room, accounting for more than 84% of group sales.
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Growth was driven by higher volumes and new stores, not price hikes.
Shoprite kept selling price inflation to just 0.7%, well below the official food inflation rate of 4.7%.
NielsenIQ data shows Shoprite grew more than twice as fast as the market.
The group will release results on the 3rd of March.