RETAILING: Another Good Period For Shoprite
Recent Western Cape Business News
The Cape Town-based Shoprite Group produced satisfactory turnover growth in the six months to 31 December 2009, increasing total sales by 11,9% to R 33,1bn and by 6,4% on a like-for-like basis. This growth must be seen against the background of internal food inflation that dropped to below 3% in December.
Shoprite Holdings chief executive Whitey Basson said the group’s core business, its South African supermarket operation, fared the best of its various divisions, increasing total sales by 14,6% and by 9,1% on a like-for-like basis.
Due mainly to the weakening of most currencies against the rand the turnover of the group’s business outside South Africa declined by 4,3% in rand terms and, on a like-for-like basis, by 9,3%. In constant-currency terms the growth achieved in turnover was an acceptable 16,3%.
Basson said against the background of a furniture industry that was even harder hit by the economic downturn, the group’s furniture division grew sales by 11,5% for the six months under review.
Shoprite’s full results for the six-month period will be announced on 23 February.
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