Shoprite weathers COVID-19 storm, reports R156bn in sales

Retail giant Shoprite today reported record sales of nearly R157 billion for the financial year year ended June 2020.

The company’s CEO Pieter Engelbrecht said the group had produced a strong set of results.

“In a challenging year we are proud to report the Group’s 6.4% increase in
sales to a record R156.9 billion,” Engelbrecht said.

“Despite significant COVID-19 lockdown restrictions restrictions impacting the Group to varying degrees, our core Supermarkets RSA operating segment increased sales by 8.7%, representing a R9.8 billion increase to R122.4 billion. Our Supermarkets Non-RSA continuing operations’ sales declined by 1.4% in rand terms, however, it increased by 6.6% in constant currency terms,” he added.

The group’s shares on the JSE increased more than 9% following the increase of the results – valuing the company at more than R68 billion.


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