The move may provide a short-term economic boost, but it also has long-term health costs
South Africa’s largest grocer saw its local operations increase sales by 10.3% during the quarter
Shoprite, which announced higher profit this week, advanced about 40% in the past year, softening Wiese’s financial blow from the Steinhoff collapse
The Competition Commission has recommended an offer by the retail giant to acquire the stores and staff of the failed furnisher.
The retailer’s results show the it is not moving in the right direction quickly enough.
Pick n Pay is seeking to claw back market share with a focus on improving its fresh produce offering.
The Wal-Mart-owned retailer Massmart has missed profit estimates as a result of disappointing performance from Game.
Shoprite says it does not expect any improvement on its first-half profit increased by 7.4%.
While other retailers battle with slow growth, Massmart has announced its earnings gained as much as 37% last year.
South African retailers can help to improve food security – but smallholder farmers need to play a key role.
Food retailers are trading at the cheapest premium to the nation’s benchmark stocks index as economic factors curb their profit growth.
The Competition Tribunal will weigh up a transaction in which Shoprite Checkers intends to acquire the shareholding in Metcash Seven Eleven.
South African supermarket group Shoprite Holdings on Wednesday reported a 33,3% increase in diluted headline earnings per share from continuing operations to 194,3 cents for the year ended June from 145,8 cents a year ago. The group’s total dividend is envisaged to increase by 38,4% to 101 cents per share.