Customers walk out of a Shoprite store in Cape Town, South Africa, on March 8, 2022. South Africa's Shoprite Group, the largest grocery retailer in Africa, on Tuesday reported the "extraordinary growth" in sales and profit in its unaudited results for the 26 weeks that ended on Jan. 2. (Photo by Xabiso Mkhabela/Xinhua)
CAPE TOWN, March 8 (Xinhua) -- South Africa's Shoprite Group, the largest grocery retailer in Africa, on Tuesday reported the "extraordinary growth" in sales and profit in its unaudited results for the 26 weeks that ended on Jan. 2.
The sale of merchandise increased by 10 percent to 91.1 billion rands (about 5.9 billion U.S. dollars) compared with the same period last year, while its trading profit increased by 14.5 percent, in spite of the impacts of COVID-19 lockdown regulations and July's unrest in South African KwaZulu-Natal and Gauteng provinces where 231 of its stores were damaged, said a statement issued by the group, who opened additional 99 stores during the reporting period, increasing the total stores number to 2,933 across the continent.
The group's core South African supermarket business, representing 79.5 percent of total sales, increased sales by 11.3 percent, read the statement.
The group also said earnings before interest, tax, depreciation and amortization increased by 12.9 percent and measured 7.9 billion rands.
Pieter Engelbrecht, Chief Executive Officer of Shoprite, attributed the performance to execution strength, relentless focus on affordability, improving accessibility, strengthening core supermarket business and evolved fintech business. ■
A person walks past a Shoprite store in Cape Town, South Africa, on March 8, 2022. South Africa's Shoprite Group, the largest grocery retailer in Africa, on Tuesday reported the "extraordinary growth" in sales and profit in its unaudited results for the 26 weeks that ended on Jan. 2. (Photo by Xabiso Mkhabela/Xinhua)