Shoprite sales hit US$16.9b while holding price rises below inflation

Shoprite Holdings, southern Africa’s largest food retailer, grew merchandise sales from continuing operations by 7.2 per cent to R270.8 billion (US$16.8 billion) for its financial year ending June, while keeping its own price increases well below the national food inflation rate. “For the year, the Shoprite Group increased sale of merchandise from continuing operations,” CEO Pieter Engelbrecht said in the results announcement. “

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