Shoprite reports 2.6% decline in half year earnings despite growth in sales

SOUTH AFRICA – Supermarket chain Shoprite has reported a 7% increase in the sale of merchandise to R81.2 billion (US$5.42 billion) in the six months to December, but its diluted headline earnings per share declined […]

Shoprite Group gears towards using 100% reusable and recyclable packaging material by 2025

SOUTH AFRICA – In line with the Shoprite Group’s commitment to ensure that 100 percent of its plastic packaging is reusable and/or recyclable by 2025, the retailer is now using the 4000 tons of plastic […]

Shoprite’s half year sales grow by 7% despite dismal performance outside SA

SOUTH AFRICA – Africa’s retail giant Shoprite has reported a 7% growth in the group’s total sales to approximately R81.2bn (US$5.62b) in its half-year financial performance ending December 2019. The growth was driven its South […]

Shoprite’s Computicket faces a possible US$9.75bn fine for alleged breach of competition laws

SOUTH AFRICA – Shoprite holdings and its subsidiary Computicket, involved in providing outsourced ticket distribution services to inventory providers in the entertainment industry and sports events are facing joint charges by the Competition commission. The […]

Shoprite’s long-serving Chairman Christo Wiese to retire next year

SOUTH AFRICA – South Africa’s largest retailer, Shoprite has announced that its long-time serving chairperson, Christo Wiese will retire at next year’s AGM putting an end date on a tenure that has spanned almost three […]

Shoprite Holdings’ independent director resigns after company’s founder gets re-elected

SOUTH AFRICA – Shoprite Holdings Ltd.’s lead independent director, Shirley Zinn, resigned abruptly making Africa’s biggest supermarket chain now down to five non-executive directors. This comes two days after Christo Wiese’s almost 30-year stint as […]

Shoprite mulls exiting foreign markets as quarterly revenue plunge 4.9%

SOUTH AFRICA – Shoprite Holdings, Africa’s largest food retailer has reported a 4.9% fall in third-quarter revenue from its non-South African business attributing it to xenophobic violence. The Cape Town-based company started a review of […]

South African retailer Shoprite opens new branch in coastal Kenya

KENYA – Shoprite Holdings, Africa’s largest supermarket retailer headquartered in South Africa, has opened its third branch in Nyali, Coastal Kenya as it continues to consolidate its presence in the East African country. Located in […]

South African retailer Shoprite secured US$5.49m for expansion in Kenya

KENYA – Shoprite Holdings, Africa’s biggest retailer headquartered in South Africa, secured US$5.49 million (about Sh566 million in current terms) in funding to expand its footprint in Kenya. The facility, which the retailer acquired from […]