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Shoprite's Q1 turnover jumps on African businesses

29 Oct 2012

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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