Shoprite sales soar

SHOPRITE Holdings said yesterday that total sales increased by 11,9percent to R33,1billion and by 6,4percent on a like-for-like basis for the six months ending December.

SHOPRITE Holdings said yesterday that total sales increased by 11,9percent to R33,1billion and by 6,4percent on a like-for-like basis for the six months ending December.

Africa's biggest grocer increased sales in its South African market, countering a drop in turnover in operations elsewhere in Africa.

BOE retail analyst Shanay Narsi said the number was a bit weaker than expected and attributed this to the translation effect of a stronger rand on revenues from stores outside South Africa, as well as rapidly falling food inflation. - Adele Shevel

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