Wrap Text
Operational Update for the quarter ended September 2024
Shoprite Holdings Limited
(Reg. No. 1936/007721/06)
(ISIN: ZAE000012084)
(JSE Share code: SHP)
(A2X Share code: SHP)
(NSX Share code: SRH)
(LuSE Share code: SHOPRITE)
("Shoprite Holdings" or "the Group")
Operational update for the quarter ended September 2024
This voluntary announcement serves to update shareholders on the Group's
first quarter period ended September 2024 ("the first quarter",
"the period") and is being released ahead of schedule to align with a
series of upcoming fund manager and shareholder engagements.
The Group increased sales for the first quarter by 10.4%.
On a net basis, the Group opened 68 stores during the first quarter. The
majority of these, a net 53 stores, were opened in our core South African
supermarkets segment around which our Group-wide ecosystem strategy is
built.
The table below outlines sales growth by operating segment:
Sales growth from continuing operations for
the three months ended September 2024 over the Change
corresponding three months ended September 2023: %
Group 10.4
By segment:
Supermarkets RSA 11.4
Supermarkets Non-RSA 3.2
Furniture 7.6
Other operating segments 10.2
Supermarkets RSA
The Group's core Supermarkets RSA segment, the majority of which is
represented by our food retail operations Shoprite, Usave, Checkers,
Checkers Hyper and LiquorShop increased sales for the first quarter by 11.4%
(prior period first quarter: 13.3%). After measuring 3.0% for July 2024, our
internal selling price inflation has continued to move lower during August
and September, measuring 2.6% for the period.
Supermarkets RSA opened 56 stores (closed three stores) during the first
quarter: nine Checkers, two Shoprite, nine Usave, 20 LiquorShop,
13 Petshop Science, one UNIQ clothing by Checkers and two Checkers Outdoor.
Supermarkets Non-RSA
The Group's Supermarkets Non-RSA operating segment, trading from nine
countries outside of South Africa, increased sale of merchandise for the
first quarter by 19.7% in constant currency and by 3.2% (prior period first
quarter: 9.7%) in our reporting currency, the rand.
Supermarkets Non-RSA opened four new stores: one Checkers, two Shoprite and
one LiquorShop.
Furniture
The Group's Furniture segment sales increased by 7.6% during the first
quarter (prior period first quarter: 0.5%). Credit sales participation
measured 14.3% of sales (prior period first quarter: 15.3%).
The segment's store base increased by one store during the first quarter to
end the period with 431 stores.
Other operating segments
The Group's Other operating segments reported a 10.2% increase in sales
(prior period first quarter: 22.2%) with sales to our OK Franchise division
increasing by 13.6% (prior period first quarter: 22.0%).
OK Franchise opened a net of seven new stores during the first quarter,
ending the first quarter with 615 stores.
Additional comments
In terms of events after the reporting date, specifically pertaining to the
purchase of the remaining 50% shareholding in Pingo Delivery (Pty) Ltd, the
effective date of this transaction will be during October 2024 following
receipt of approval from the Competition Tribunal. With regard to the sale
of the majority of our furniture business to Pepkor Holdings Limited the
transaction process is progressing accordingly with the timeline to
completion closer to our June 2025 financial year end.
The Group re-established its share buy-back programme during the period and
for the 2025 financial year to date has purchased shares to the value of
R997 million at an average share price of R289.29. Since the inception of
the Group's share buy-back programme in our 2021 financial year, we have
repurchased 12.1 million shares to the value of R2.6 billion. This equates
to an average purchase price of R211.59 per share.
Next reporting date
The Group intends to issue its 2025 interim period sales update by the
end of February 2025 and will report its 2025 interim results during
March 2025. Further details in terms of reporting dates, as they are
finalised, will be available on the Group's Shareholder diary
(https://www.shopriteholdings.co.za/shareholders-investors.html) on the
Company's corporate website.
The information contained in this announcement has not been reviewed or
reported on by the Group's external auditors.
29 October 2024
Sponsor: Nedbank Corporate and Investment Banking, a division of
Nedbank Limited
Enquiries
Shoprite Holdings Limited Tel: 021 980 4000
Pieter Engelbrecht, Chief Executive Officer
Anton de Bruyn, Chief Financial Officer
Natasha Moolman, Group Investor Relations Manager
Date: 29-10-2024 08:00:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE').
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct,
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
information disseminated through SENS.
Sharenet Sites 
