Boxer Retail has delivered steady sales growth in the first three quarters of its financial year.
This comes as the discount grocery chain navigated a difficult consumer environment and intensified competition in South Africa’s retail sector.
Management said the group remained on track to achieve its trading profit growth target for the 2026 financial year. And the company showed confidence in its strategy despite the slowdown in recent months.
Turnover rose by 11.9%
In a trading update for the 48 weeks ended February 1, 2026, Boxer reported that turnover rose by 11.9%, with like-for-like sales increasing by 3.9%.
Growth moderated in the latter part of the period. This is where turnover for the final 22 weeks rose by 9.8% and like-for-like sales by 2.4%.
Trading conditions became more challenging towards the end of the period as strong growth recorded in September and October 2025 was followed by a weaker November performance, before sales gradually improved again through December and January.
The slower November was attributed to a constrained trading environment over the extended Black Friday period. This combined with a high comparative base from November 2024.
Despite this pressure, Boxer continued to gain market share during the reporting period, according to data from NielsenIQ.
The company’s pricing dynamics also reflected the tough consumer backdrop, with internal selling price inflation measured at -1.0% for the period, compared with -0.7% in the first half of the financial year.
Expansion plans on track
From an operational perspective, the retailer said it remained broadly on track with its store expansion plans for the 2026 financial year.
The roll-out of new liquor outlets is progressing. But it remains dependent on the approval of several outstanding liquor licences.
Boxer now expects full-year sales growth for the 52 weeks to March 1, 2026 to be slightly stronger than the performance reported for the 48-week period.
This is partly due to a softer comparative base in February 2025. Which is likely to support year-on-year growth figures.
