Shoprite Holdings, Africa's largest retailer and partly owned by South African billionaire Christo Wiese, has announced a record-breaking $13.14 billion in merchandise sales for the fiscal year ending June 30, 2024.
This milestone represents a robust 12 percent increase from the previous year, underscoring Shoprite's strong performance and market dominance despite challenging economic conditions.
Sales surge across all divisionsA strong performance from South African supermarkets drove a 12 percent increase in total merchandise sales to R240.8 billion ($13.14 billion) for the group, according to its operational update.
The unit's sales climbed 12.3 percent to R173.6 billion ($9.48 billion), boosted by the integration of stores acquired from Massmart Holdings. The stores acquired from Massmart Holdings contributed to a 10.1 percent sales increase in the second half of the fiscal year.
