Shoprite earnings rise on festive, Easter demand

Source: Reuters/Afolabi Sotunde

Shoprite said diluted headline earnings per share from continuing operations rose to R13.67 in the year through 29 June, up from a restated R11.80 a year earlier.

Group sales from continuing operations grew 8.6% to R252.7bn, as the retailer's core business, Supermarkets South Africa, achieved sales growth of 9.5%, with like-for-like sales growth of 4.8%.

The sales growth in Supermarkets South Africa was supported by volume growth, with customer visits up 4.4% and an average basket-spend increase of 4.8%, Pieter Engelbrecht, the group CEO, said in a statement.

Shoprite and Usave, the group's discounters, increased sales by 5.9%, while sales at its upmarket Checkers chain surged 13.8%.

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CEO Pieter Engelbrecht said Shoprite kept selling inflation below 2%, with promotional activity in the reporting period higher than in 2024, to help shield financially constrained customers.

The supermarket business in the rest of Africa - operating in seven countries after the group announced plans to sell its Ghana and Malawi stores - saw a 6.4% increase in sales.

Shoprite declared a final dividend of R4.96 per share.