Sector: Consumer Services
The company is available at Interactive Brokers
Shoprite Holdings (JSE:SHP) incorporates various distinctive retail brands to meet the diverse needs of shoppers across all market segments. This comprehensive range of food, household products, furniture, pharmaceuticals and services has resulted in its stores becoming one-stop-shopping destinations where consumers can enjoy the lowest prices, value for money and convenience all under one roof.
The company has over 2934 outlets across 15 African countires. Over the past 27 years, its ongoing expansion beyond South Africa’s borders has met with great success. The company's extensive experience in key African markets has paved the way for it to continue growing in these untapped markets with additional stores being opened every year. The company operates the following brands:
Supermarkets
Shoprite
Checkers
Checkers Hyper
Usave
Liquor Brands
Shoprite LiquorShop & Checkers LiquorShop
Furniture Brands
House & Home
OK Furniture & Power Express
Pharmaceutical Brands
MediRite Pharmacy
TransPharm
Ticketing Services
Computicket
Computicket Travel
Hospitality
Checkers Food Services
Fruit and vegetable procurement & distribution
Freshmark
Financial & Cellular Services
k'nect
Franchising
OK Franchise Division
Semi-Annual values ($m)
Change (y/y)
FCF ($m)
Net Debt / Cash and Equivalents ($m)
EV / EBITDA
Potential dynamics
South Africa’s e-commerce landscape has arrived at an important juncture, writes GfK’s Zak Haeri.
2024-04-24 12:38 +02:00
Shoprite Group’s Checkers Sixty60 online shopping platform continues to grow an astounding rate.
2024-03-05 09:07 +02:00
It was primed for success. And then suddenly it wasn’t. The fizz has gone out of the energy drink Prime.
2024-02-20 10:58 +02:00
Retailers are not obliged to accept cash as a means of payment, even though it is defined as legal tender.
2024-01-08 10:21 +02:00
TechCentral spoke to Shoprite Group head of digital technologies Debbie Cunningham for its IT Leadership Series.
2023-12-01 10:10 +02:00
Pick n Pay is not taking the threat posed by Shoprite’s popular on-demand shopping app, Sixty60, lying down.
2023-10-31 09:54 +02:00
Checkers has launched a new subscription model for online shopping not dissimilar to Amazon Prime in the US.
2023-09-22 16:41 +02:00
Mr D is turning into a full-service on-demand marketplace where users can shop for pet care, liquor, groceries and gifts.
2023-09-15 12:51 +02:00
Checkers will this month launch an Amazon Prime-style subscription service that includes “free” Sixty60 order deliveries.
2023-09-06 11:31 +02:00
Takealot is introducing delivery within an hour as it braces for Amazon.com to enter the e-commerce sector.
2023-08-17 07:07 +02:00
Bradwin Roper, newly appointed CEO of MTN’s financial services unit in South Africa, has big plans for Mobile Money.
2023-07-13 14:14 +02:00
FNB has announced “simplified” eBucks rules that it claims will help customers get more value from rewards.
2023-06-30 12:26 +02:00
The diplomatic fallout between South Africa and the US couldn’t have come at a worse possible time.
2023-05-15 06:00 +02:00
The most severe power cuts ever experienced in South Africa are threatening food and water supplies and disrupting the lives of millions of people.
2023-01-18 14:40 +02:00
Spar Group on-demand shopping platform, Spar2U, is nearing “critical mass” after expanding to 87 stores, it said.
2022-11-16 09:52 +02:00
Checkers has opened its first “dark store” to serve on-demand delivery as online grocery shopping continues to enjoy “notably strong growth”.
2022-11-14 19:30 +02:00
The strategy is to build Massmart into a force able to see off its brick and mortar rivals and then win a looming battle against Amazon.
2022-10-21 16:46 +02:00JSE:SLM JSE:SHP JSE:N91 JSE:AVI JSE:NY1 JSE:SPG JSE:MSM JSE:MPT JSE:ISA
Capitec has become the latest South African bank to launch a mobile virtual network operator, and is promising aggressively priced data.
2022-09-26 10:58 +02:00
Woolworths plans to ramp up its online, on-demand delivery service, its CEO said on Wednesday, as it steps up a turf war with Pick n Pay and Shoprite.
2022-08-31 15:06 +02:00
The retail group has secured loans worth R3.5-billion from major banks to fund big investments in renewable energy and other environmental projects.
2022-08-22 15:30 +02:00
Shoprite Group is taking its pet food and supplies brand, Petshop Science, online as brick-and-mortar retailers increasingly focus on omnichannel sales.
2022-07-27 11:13 +02:00
Online sales nearly doubled in the retailer’s most reporting period compared to the same period last year as shoppers warm to buying their groceries on the Internet.
2022-07-26 09:59 +02:00
Spar is gearing up to take on Shoprite Group’s Checkers Sixty60 and Pick n Pay asap! in online grocery shopping in South Africa.
2022-06-08 09:36 +02:00
Computicket, the ticketing agency owned by Shoprite Group, has agreed to pay an R11.3-million “administrative penalty” to South Africa’s competition regulator.
2022-06-03 06:05 +02:00
Pick n Pay and Takealot Group have signed an agreement that will allow customers to buy Pick n Pay food, groceries and liquor on Takealot’s Mr D app.
2022-05-17 16:49 +02:00
Pick n Pay revealed on Tuesday that its on-demand online delivery app, Pick n Pay asap!, grew its sales by 300% in the year to February 2022.
2022-05-17 09:18 +02:00
The Post Office will no longer pay beneficiaries of the social relief of distress R350 grant at its branches, blaming long queues for the decision.
2022-05-11 07:25 +02:00
Shoprite Group plans to expand its online grocery delivery service to 80 more stores in the next six months, adding to the 266 stores already in the network.
2022-03-09 12:17 +02:00
It is entirely possible – and quite simple – to earn back at least your monthly account fee in eBucks each month.
2022-01-07 09:42 +02:00
Shoprite Holdings said Checkers has entered into a joint venture agreement with its delivery partner, RTT Group, as part of a push to grow its e-commerce business.
2021-12-13 11:18 +02:00
MTN South Africa said on Monday that users of its MoMo mobile money platform can now “cash out”, or withdraw funds, at Nedbank-owned ATMs.
2021-11-22 11:32 +02:00
Shoprite Group, South Africa’s largest retailer, has quietly launched a basic transactional bank account linked to its Xtra Savings rewards cards.
2021-11-17 17:40 +02:00
South African fintech Ozow has raised $48-million in a series-B funding round led by China’s Tencent Holdings.
2021-11-17 17:35 +02:00
Bank Zero account and transaction fees will also remain exactly the same next year, meaning they have been unchanged since the mutual bank went into beta last year.
2021-10-19 08:23 +02:00
Shoprite Holdings’ IT spending soared nearly 18% in the 2021 financial year as its focus on technology-led disruption and e-commerce shifted to become top strategic priorities.
2021-09-07 17:10 +02:00
JSE-listed Massmart, which owns Makro, Builders and other well-known retail brands, said on Wednesday that it has entered discussions to buy a controlling stake in e-commerce specialist OneCart.
2021-08-25 14:20 +02:00
Shoprite Group has created a new digital business unit called ShopriteX in which it plans to combine data science, technology and innovation to “enhance customer experiences”.
2021-08-18 14:13 +02:00
It is not yet clear just how extensive the destruction of particularly retail and warehouse property and the looting of stock in the unrest in KwaZulu-Natal and Gauteng was.
2021-07-19 06:08 +02:00JSE:SHP JSE:NED JSE:PPH JSE:CLS JSE:INP JSE:WHL JSE:MRP JSE:SPP JSE:INL JSE:TBS JSE:IPF JSE:MSM JSE:CSB JSE:FBR JSE:MPT JSE:LEW JSE:MST
South Africans are expected to face major food shortages in the wake of days of violent unrest across two key provinces, as rioters upend supply chains by looting supermarkets and torching goods trucks.
2021-07-14 06:40 +02:00
Just a week after its CEO, Pieter Engelbrecht, teased the launch of its own mobile service, Shoprite Group has provided details of the launch K’nect Mobile, its mobile virtual network operator platform.
2021-03-23 08:44 +02:00
Pick n Pay can expect some competition from rival Shoprite when it comes to offering a mobile data and voice service.
2021-03-17 13:30 +02:00
South Africa’s weak economy and poor growth prospects have hidden the “phenomenal” potential for the shares in some locally focused companies to deliver returns for investors, according to Old Mutual Investment Group.
2020-11-04 13:00 +02:00JSE:MTN JSE:VOD JSE:SHP JSE:APN JSE:OMU JSE:ITE JSE:MSM JSE:RBX JSE:ISA JSE:SSK
South African businesses have had to respond to the coronavirus and lockdown restrictions since March. At the same time, the country’s economy is in crisis. Here’s how companies are coping.
2020-09-18 07:20 +02:00JSE:AGL JSE:AMS JSE:FSR JSE:MTN JSE:SBK JSE:VOD JSE:IMP JSE:SSW JSE:ABG JSE:SHP JSE:NED JSE:PPH JSE:AVI JSE:SPG JSE:MSM JSE:SUI
Having long lagged behind much of the world in terms of e-commerce, South African retailers have been doing a roaring trade online as consumers shy away from shops during the Covid-19 pandemic.
2020-07-15 15:30 +02:00
MTN has rolled out a new feature of its Mobile Money service that will allow South African consumers to make purchases online using their MoMo wallets – no bank card required.
2020-06-29 14:09 +02:00
Kim Reid, CEO of South Africa’s largest online retailer, Takealot.com, has made an impassioned plea to government to allow unfettered e-commerce and food delivery as soon as possible.
2020-04-15 11:59 +02:00
Pick n Pay said on Friday that it is introducing scan-and-pay technology at till points nationwide so customers don’t have to touch point-of-sale terminals during the Covid-19 pandemic.
2020-04-09 16:15 +02:00
The Shoprite Group, which owns Shoprite and Checkers retail stores, is introducing the ability for customers to make payments using QR codes in an effort to fight the spread of the novel coronavirus.
2020-04-08 17:32 +02:00
In the midst of the Covid-19 lockdown, supermarket giant Pick n Pay is upping the ante in South Africa’s online retail game by launching a same-day grocery delivery service in partnership with Bottles.
2020-04-08 06:18 +02:00
Retailer Checkers has launched Sixty60, a new e-commerce app offering free grocery deliveries to consumers within 60 minutes of purchase.
2019-11-25 07:06 +02:00
Takealot expects Black Friday sales to rise by about 80% to R352-million this year. The online retail group sees the last Friday of November as a key driver and measure of its growth in South Africa.
2019-11-19 09:34 +02:00
Ticketing company Computicket, which is owned by retailer Shoprite, has lost an appeal over a R20-million fine imposed on it for “abuse of dominance”.
2019-10-23 14:54 +02:00
Nigeria’s ruling party has urged the government to nationalise South African companies operating in the West African nation in retaliation for xenophobic attacks on its nationals.
2019-09-07 07:58 +02:00
MTN Group and Shoprite are among South African firms facing a backlash to xenophobic violence in their home country.
2019-09-04 11:38 +02:00
Massmart will have to take a long, hard look at its embattled Massdiscounters division to turn the group’s fortunes around, and this should include a rationalisation of its Game and DionWired stores.
2019-08-07 06:33 +02:00JSE:SHP JSE:PPH JSE:MRP JSE:AVI JSE:MSM JSE:MPT JSE:SFN JSE:ISA
Shoprite Group is launching standalone technology stores called K’nect that will offer consumers access to services such as global money transfers, cellphone purchases, bill payments, tickets and insurance.
2019-07-30 11:26 +02:00
FNB has announced sweeping changes to its eBucks loyalty programme, including giving clients the ability to earn double their fuel rewards on a quarterly basis with up to R8/l back at Engen petrol stations.
2019-05-30 19:00 +02:00
As a price war intensifies in South Africa’s banking sector, FNB has announced it will cut the fees of some accounts and offer free airtime and data to account holders.
2019-05-30 18:55 +02:00
South African fashion and food retailer Woolworths will buy a 93.45% stake in pet care retailer Absolute Pets from Sanlam Private Equity and Absolute`s management, it said on Tuesday, stepping up a turf war for the country`s affluent shoppers.
2023-10-31South African grocery retailers Woolworths and Pick n Pay are limiting the amount of eggs shoppers can buy as the country`s worst outbreak of avian flu hits table egg supplies and threatens the supply of chicken meat.
2023-10-04Raymond Ackerman, who founded Pick n Pay from just four stores 56 years ago and turned them into one of South Africa`s leading grocery retailers, has died aged 92, the company said on Thursday.
2023-09-07
South African retailer Woolworths said on Wednesday it planned to spend 10 billion rand ($538 million) in capital expenditure over the next three years as it seeks to strengthen margins.
2023-08-30
JOHANNESBURG (Reuters) -Thousands marched through the streets of South Africa`s cities on Monday to demand that President Cyril Ramaphosa resign, as security forces guarded malls and roads to prevent violence and looting.
2023-03-20
South Africa`s biggest supermarket group Shoprite expects diesel costs to operate generators to remain elevated given rolling power cuts, pressuring its margins, but says new store openings will drive growth in 2023.
2023-03-07
South Africa`s three largest grocery retailers joined forces to criticise the government on Thursday for not offering a tax rebate on diesel use, as crippling power cuts increase their costs.
2023-02-23
South African manufacturers and retailers of food and other essential products warned on Wednesday that consumers will face much higher prices unless the government urgently finds solutions to the power cuts that are crippling the economy.
2023-02-08Supermarket group Pick n Pay said on Wednesday its four-month sales grew by 6.4%, but its like-for-like sales growth in South Africa was softer, impacted by store revamps and unprecedented power cuts in the last quarter of 2022.
2023-02-08JOHANNESBURG (Reuters) -South Africa`s biggest supermarket group Shoprite reported a 16.8% jump in half year sales on Tuesday, supported by a record Black Friday and festive season as both cash-strapped shoppers and upmarket consumers went after deals.
2023-01-31
South Africa`s biggest supermarket group Shoprite reported a 16.8% jump in half year sales on Tuesday, supported by a record Black Friday and festive season as both cash-strapped shoppers and upmarket consumers went after deals.
2023-01-31
South Africa`s biggest grocery retailer Shoprite Holdings reported on Monday first-quarter sales growth of 18.6% as financially constrained consumers flocked to its budget chains for discounts.
2022-11-14JOHANNESBURG (Reuters) -Shares in Shoprite Holdings slid 7% on Tuesday after South Africa`s No. 1 grocer reported lower-than-expected profit and a narrower trading margin, while promising to hold down prices to keep attracting customers as they feel the inflation squeeze.
2022-09-06
* Shares down 7% (Recasts with more discounts, CEO comment, share reaction)
2022-09-06
South Africa`s biggest grocer Shoprite Holdings reported a 10.3% increase in annual profit on Tuesday as shoppers flocked to discount store chains for everything from groceries to household supplies in the face of higher inflation.
2022-09-06U.S. retail giant Walmart Inc. has signed an agreement to begin buying the 47% stake in South African retailer Massmart it does not own, the companies said in a joint statement on Thursday.
2022-09-01Woolworths Holdings plans to open more stores and ramp up its on-demand delivery service, its chief executive said on Wednesday, as it steps up a turf war for South Africa`s affluent shoppers.
2022-08-31South Africa`s value fashion and homeware retailer Mr Price is testing standalone baby stores, in a push to gain a share of the growing and highly competitive baby care products market, starting with a store it launched on Wednesday, it said.
2022-08-25South African grocery and clothing retailer Pick n Pay aims to cut costs by 3 billion rand ($187 million) in the next three years and grow its market share by 3% under a new strategy, CEO Pieter Boone said on Tuesday.
2022-05-17
South Africa`s largest grocery retailer Shoprite Holdings Ltd on Monday reported a 9.3% rise in its first quarter sales, helped by robust trading in its supermarkets in South Africa.
2021-11-15
South Africa`s Pick n Pay reported an almost 91% jump in half-year earnings and has identified 3 billion rand ($207.5 million) in additional cost savings till 2025 as part of its turnaround strategy, the grocery retailer said on Wednesday.
2021-10-20
* CEO now comfortable with remaining core African operations (Adds CEO, CFO comments on Uganda and Madagascar exits)
2021-09-07South Africa`s Massmart is in advanced talks to buy a controlling stake in grocery delivery service OneCart Pty Ltd as part of a push to grow its e-commerce business, the Walmart-owned retailer said on Wednesday.
2021-08-25
Upmarket South African grocery chain Checkers is testing a store without checkout counters, the first cashierless food store in the country allowing shoppers to walk out without waiting in line to pay.
2021-08-18Recent unrest in South Africa damaged hundreds of businesses but property developers and retailers say they remain committed to the fast-growing consumer markets of its predominantly Black townships.
2021-07-29JSE:SHP JSE:N91 JSE:RDF JSE:AVI JSE:NY1 JSE:VKE JSE:MSM JSE:MPT JSE:ARH JSE:SFN JSE:ISA
South Africa`s big retailers are working round the clock to replenish shelves with food in hundreds of stores looted this week in some of the country`s worst unrest for years, they said on Friday.
2021-07-16JOHANNESBURG (Reuters) -South Africa deployed soldiers on Monday to quell violence that erupted following the jailing of former President Jacob Zuma, after days of riots left at least six people dead.
2021-07-12
South African hospitality, grocery retail and gym stocks sank on Monday alongside the rand currency after the government tightened COVID-19 restrictions to cope with new coronavirus infections.
2021-06-28JSE:SHP JSE:NED JSE:WHL JSE:SPP JSE:AVI JSE:TSG JSE:MSM JSE:SUI JSE:BAT
South Africa`s Pick n Pay plans to invest a further 2.5 billion rand ($175 million) in new stores in lower to middle-income communities as it looks to get a bigger piece of the 595 billion rand food and grocery retail market.
2021-04-21
* Lost 4 bln rand worth of sales due to restrictions on booze (Recasts with new store strategy)
2021-04-21Nigerian property group Persianas is buying Shoprite`s business in Nigeria as the South African retailer retreats from other African markets, three banking sources told Reuters on Wednesday.
2021-04-14South African supermarket group Shoprite Holdings reported a 10.4% rise in half-year earnings on Tuesday, helped by a much stronger second quarter as liquor sales resumed, and declared an interim dividend of 191 cents.
2021-03-16
South African food producer Libstar Holdings Ltd saw a 3.6% rise in revenue in the second half of 2020, it said on Friday, thanks to a strong third quarter as demand from retail clients grew and delays at ports eased.
2021-01-29South African healthcare experts are urging the government to share a detailed plan for administering COVID-19 vaccines with private sector partners who are offering their help, warning infrastructure bottlenecks will otherwise delay the rollout.
2021-01-20
South African supermarket chain Pick n Pay will soon open its first store in Nigeria through a partnership with A.G. Leventis (Nigeria) in an effort to tap the West African nation`s "underserved" consumer market.
2020-10-20Unilever has agreed to pull all its TRESemmé haircare products from South African retail stores for 10 days as a show of remorse for a "racist" ad, the consumer group said in a joint statement with an opposition political party.
2020-09-10
South Africa`s Dis-Chem Pharmacies has joined a growing list of retailers removing TRESemmé products, a Unilever Plc brand, from their shelves after a hair advertisement was accused of being racist.
2020-09-10
* Full-year sales up 6.4% (Adds shares, details on Africa review)
2020-09-08
South Africa`s Shoprite Holdings will lay off 115 staff and close another Kenyan store, less than a year after its opening as part of the supermarket`s expansion into the east African country, a letter seen by Reuters shows and the company confirmed.
2020-08-05South African shoppers filled trolleys with cases of beer and cider and bottles of whiskey and wine on Monday as the government eased the coronavirus lockdown to allow the sale of alcohol to resume after a nine-week ban.
2020-06-01A craze for homebrewing has swept across South Africa since the government banned the sale of alcohol to help hospitals and keep order during the coronavirus lockdown - good news for Frank van Wensveen, who owns a home beer brewing supply shop.
2020-05-29South Africa`s Pick n Pay Stores Ltd said on Tuesday the COVID-19 pandemic is likely to hit its margins and profitability this year as lockdown measures prohibit the sale of some items including liquor, tobacco and clothing.
2020-05-12
South Africa`s Shoprite Holdings said sales of beauty products, such as hair colouring kits and conditioners, have soared at its supermarkets as consumers turn to do-it-yourself treatments while salons remain shut.
2020-05-12
South Africa’s biggest supermarket, Shoprite, will limit purchases of some food products and medicines, it said on Thursday, as frantic shoppers stripped shelves to prepare for possible isolation during the coronavirus outbreak.
2020-03-19
South Africa’s biggest supermarket Shoprite will limit purchases of some food products and medicines, it said on Thursday, as frantic shoppers stripped shelves to prepare for possible isolation during the coronavirus outbreak.
2020-03-19
South African supermarket chain Pick n Pay said on Tuesday it has launched an online scheduled grocery delivery service that enables customers to set up an automatic weekly or monthly delivery of products they buy regularly.
2020-03-03
The South African rand gained on Wednesday after Finance Minister Tito Mboweni said in a budget speech that the government would cut the public sector wage bill to contain a rising budget deficit.
2020-02-26
* Reviewing operating model of Africa ops (Adds Africa review, CEO quotes)
2020-02-25
South Africa`s Massmart Holdings on Thursday forecast a loss for the full-year as it battled tough trading conditions in the second half and said it will reorganise four of its businesses into two divisions.
2020-01-30
South Africa`s Massmart Holdings could cut up to 1,440 jobs under a plan to close some stores, the retailer said on Monday as it struggles to grow sales in a tough economy.
2020-01-13
South Africa`s rand clawed back some lost ground on Wednesday with renewed optimism that China and the United States would strike a trade deal outweighing a surprise third-quarter contraction in the local economy.
2019-12-04
South Africa`s biggest supermarket chains could be forced to drop exclusivity clauses in shopping mall leases if they fail to do so voluntarily, the country`s competition watchdog said in findings from a sector inquiry published on Monday.
2019-11-25
South African supermarket chain Checkers, owned by Shoprite Holdings, is looking to grab a larger share of the growing online shopping market by pioneering a new one-hour grocery delivery service named Sixty60.
2019-11-25
South Africa`s biggest supermarket chains could be forced to drop exclusivity clauses in shopping mall leases if they fail to do so voluntarily, the country`s competition watchdog said in findings from a sector inquiry published on Monday.
2019-11-25
South Africa`s rand resumed its advance on Thursday, brushing off a batch of depressing economic data amid renewed expectations that China and the United States will reach a trade deal.
2019-11-07A focus on low prices and cutting costs helped drive a 9.5% rise in first-half earnings at Pick n Pay Stores Ltd , bucking the downward trend at other South African retailers and giving the biggest daily boost to its shares in 11 years.
2019-10-22
South Africa and Nigeria signed 30 trade and cooperation agreements on Thursday, weeks after a wave of violence against Nigerian nationals in Johannesburg and Pretoria had strained relations between Africa`s top two economies.
2019-10-03Nigeria`s President Muhammadu Buhari will visit South Africa next month to reinforce the bonds between the two countries after a wave of deadly riots and xenophobic attacks, the South African presidency said on Saturday.
2019-09-07Shares of MTN Nigeria hit a three-month high on Friday after the telecoms company`s offices partially reopened following a shutdown due to anti-South African attacks in the West African country.
2019-09-06South African companies MTN and Shoprite closed stores in Nigeria on Wednesday in the face of attacks targeting their premises in retaliation to similar violence in their home country.
2019-09-05Nigeria said on Wednesday it would boycott an Africa economic summit in Cape Town, intensifying a diplomatic row after a series of deadly attacks on foreigners in South African cities.
2019-09-04
* Riots sparked reprisal attacks on S. African business in Nigeria
2019-09-04
* Groups have attacked shops mainly owned by African migrants
2019-09-04
South Africa`s rand firmed in afternoon trade on Monday as the United States and China sought to ease trade war tensions while investors also looked to a slew of domestic economic data later in the week for clues on the health of the economy.
2019-08-26Shoprite Holdings missed full-year earnings forecasts on Tuesday, hit by inventory shortages in South Africa and currency devaluations in the rest of Africa, which overshadowed an improved second half in its home market.
2019-08-20
South African supermarket chain Shoprite Holdings missed full-year forecasts on Tuesday hurt by inventory shortages at home and currency devaluations in the rest of Africa.
2019-08-20
Former Nedbank chairman Reuel Khoza has been appointed to head South Africa`s 2 trillion rand ($141 billion) Public Investment Corporation (PIC) in an effort to restore the scandal-plagued pension fund`s reputation.
2019-07-25
South Africa`s rand inched lower late on Thursday, as investors assessed local political developments ahead of local inflation numbers next week and a decision on U.S. interest rates.
2019-06-13Massmart Chief Executive Guy Hayward will step down before the end of the year, the South African retailer said on Monday, ending five years at the helm of the supermarket group as it plans to expand further in Africa.
2019-05-06
South African retailer Pick n Pay Stores Ltd on Friday reported an 18 percent jump in full-year earnings, as price cuts helped it attract highly cost-conscious shoppers and cope with the difficult trading conditions that have hit other retailers.
2019-04-26South African grocer Shoprite is to buy back deferred shares held by its chairman Christo Wiese to simplify its voting structure but substantially curbing Wiese`s influence in the company he helped turn into an African powerhouse.
2019-04-18
South Africa`s state pension fund denied considering a former banking executive as its next chief executive as it seeks to fill a position which has become increasingly sensitive given the successive departures of its CEO and temporary replacement.
2019-04-18
Former Steinhoff chairman and top shareholder Christo Wiese said on Monday he is open to negotiations over a $4 billion claim against the South African retailer, days after it revealed the scale of a devastating accounting fraud.
2019-03-18
South Africa`s retail sales slumped to their lowest in over a year in December after "Black Friday" discounts boosted the previous month, with sales by general dealers and of cosmetics and furniture the hardest hit as economic recovery continued to stumble.
2019-02-13
South African retailer Shoprite looked set for its biggest fall in almost 20 years on Wednesday after it warned of a steep drop in half-year headline earnings citing foreign exchange setbacks and other factors.
2019-01-30
South Africa`s rand eased on Monday as the dollar neared a two-week high, while Naspers boosted stocks on expectations of positive news about the spin-off of its pay-TV business, which duly emerged after the market close.
2019-01-21
South Africa`s Shoprite said on Monday it would appeal against a 20 million rand ($1.4 million) fine handed to its ticket-selling subsidiary by the country`s Competition Tribunal, which found agreements signed by the firm had hit competition.
2019-01-21
* Shoprite says to oppose the charge (Adds Shoprite comments, updates shares)
2018-12-20
South Africa`s state pension fund and a local black investment firm have bought a majority stake in Africa`s biggest cattle company for 5.2 billion rand ($360 million).
2018-10-23Shoprite Holdings, South Africa`s biggest supermarket chain, said on Tuesday it would pay customers for reusing its newly introduced recyclable bag as it joined domestic rivals in efforts to curb plastic pollution.
2018-10-23South Africa`s President Cyril Ramaphosa on Wednesday appointed a judicial inquiry into the 2 trillion rand ($142 billion) state pension fund, a government gazette said, following corruption allegations.
2018-10-17
