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Retailers News South Africa

Shoprite's Q1 turnover jumps on African businesses

Retailer Shoprite announced today, 29 October 2012, that its turnover for the first quarter of the 2013 financial year grew by 15.6% compared to the 10.8% increase in the same period in the last financial year.

Shoprite said the increase in turnover was mainly due to a weaker rand‚ which aided its non-South African operations to boost their operations.

Whitey Basson‚ Shoprite CEO‚ said the performance of the group's non-RSA operations were also boosted by the opening of 20 new food outlets since October 2011. Of these‚ eight were Shoprite supermarkets and 12 were Usave stores.

Source: I-Net Bridge

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