Shoprite Holdings sees earnings rising as much as 14.7% as sales at the e-commerce unit of Africa’s largest supermarket chain jumped.
The South African company expects headline earnings per share from continuing operations to rise for the 52 weeks ending 28 June, the company said in a regulatory filing on Wednesday.
Revenue at Shoprite’s Sixty60 on-demand digital commerce operation jumped 35% to R25.5 billion for the year.
The African chain’s Checkers and Checkers Hyper — frequented by wealthier shoppers — grew 10%, more than double the 4.3% growth of the company’s Shoprite and Usave brands, according to the statement.
Other noteworthy figures from Shoprite’s statement include:
- Supermarkets in South Africa, contributing 85% of group sales, grew 7.1% to add R15.2 billion in sales
- Sales at supermarkets outside South Africa grew 11% in reported currency, or 7.1% in constant currency
- Same-store sales at its South African supermarkets unit rose 2%, compared with rest-of-market growth of 2% according to market-intelligence firm NielsenIQ
Shoprite’s Sixty60 business is helping the firm take on competition from companies including Walmart, which has renewed its efforts to entrench itself in South Africa.
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