Re­ces­sion squeezes Sho­prite sales

The Star Early Edition - - BUSINESS REPORT -

SU­PER­MAR­KET group Sho­prite said yes­ter­day that trad­ing con­di­tions in South Africa re­mained chal­leng­ing in the sec­ond half of its fi­nan­cial year. “The chal­leng­ing trad­ing con­di­tions in South Africa con­tin­ued in the sec­ond half of the year, and the South African su­per­mar­ket op­er­a­tion in­creased sales by 10.1 per­cent,” the com­pany said in a trad­ing update. But it said that on a “like-for-like ba­sis” – a com­par­i­son that usu­ally ex­cludes the ef­fects of ex­pan­sion or ac­qui­si­tion – sales in­creased by a more mod­er­ate 6.9 per­cent. Else­where in Africa, Sho­prite said it “recorded sales growth of 13.5 per­cent, mainly due to the im­pact of lower com­mod­ity prices and the de­val­u­a­tion of cer­tain cur­ren­cies”. – Reuters

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.