Shoprite reports interim turnover growth - CNBC Africa

Shoprite reports interim turnover growth

Earnings

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Shoprite has outlets in 17 countries across Africa and the Indian Ocean islands. PHOTO: Nairaland

The Shoprite group, Africa's largest food retailer, saw its sales increase by 7.6 per cent while its internal food inflation averaged 3.8 per cent.

“Christmas trading for the month of December was impacted by the closure of all RSA stores on 15 December 2013 as a mark of respect following the passing of former President Nelson Mandela. These stores were closed on the day of the funeral,” [DATA SHP:Shoprite Holdings Limited] said.  

“It is estimated that should these stores have traded on the day, sales of some 260 million rand would have been generated, impacting turnover growth for the period by 0.7 per cent.”

The group’s furniture division grew its sales by 10.5 per cent for the six-month period while its non-South African supermarkets achieved a sales growth of 27.5 per cent and 14.9 per cent in constant currencies.

Shoprite, which has outlets in 17 countries across Africa and the Indian Ocean islands, recently retracted from firing 3,000 striking workers in Zambia after the government threatened to revoke the retailers licence.

It has also been reported that Kenya’s largest retail chain, Nakumatt, was set to take over three of Shoprite’s stores in Tanzania.

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