News

Industries

Companies

Jobs

Events

People

Video

Audio

Galleries

My Biz

Submit content

My Account

Advertise

Retailers News South Africa

Shoprite banks R92.7bn

Retail group Shoprite reported on Tuesday (16 July) that total turnover for the 12 months to June had increased by 12.1% to about R92.7bn‚ compared with the corresponding 12 months last year.
Shoprite banks R92.7bn

Growth on a like-for-like basis was 5.8%.

During the year‚ internal food inflation averaged 4.3% compared with 4.9% in 2012.

Shoprite said the growing pressure on consumers' disposable income reflected in the slow-down in sales in the South African supermarket division‚ the largest division in the group‚ which grew sales by 9.8%

This had an impact on the group's total performance which saw turnover growth of 10.4% in the second half of the year‚ compared with 13.8% in the first half.

When converted to rand‚ the turnover of the 153 supermarkets the Group operates outside the borders of South Africa‚ increased by 27.9% compared with the previous year. Taken at constant currencies these operations grew by 21.2%.

With relatively low product inflation‚ the furniture division grew turnover by 4.7%.

The financial results are expected to be published in August.

Source: I-Net Bridge

For more than two decades, I-Net Bridge has been one of South Africa’s preferred electronic providers of innovative solutions, data of the highest calibre, reliable platforms and excellent supporting systems. Our products include workstations, web applications and data feeds packaged with in-depth news and powerful analytical tools empowering clients to make meaningful decisions.

We pride ourselves on our wide variety of in-house skills, encompassing multiple platforms and applications. These skills enable us to not only function as a first class facility, but also design, implement and support all our client needs at a level that confirms I-Net Bridge a leader in its field.

Go to: http://www.inet.co.za
Let's do Biz