How profitable is Checkers Sixty60? (Is it even?)

The mighty Checkers Sixty60 on-demand grocery delivery service rumbles on, with sales up nearly 11-fold in the latter half of 2023 versus the last six months of 2020, which is when the service really began ramping up.

Group CEO Pieter Englenbrecht says many predicted that sales growth would “fall off a cliff” after the Covid-19 pandemic. “That didn’t happen at all.” Engelbrecht was surprisingly frank in its recent interim results presentation, saying that Sixty60 is “very, very profitable”. Checkers grew sales by 13.7% in the final six months of 2023, and at R38.5 billion , this is no mean feat. Sales growth at Checkers has outstripped the market for years now. It has 15.2% market share according to NieslenIQ.Woolworths CEO Roy Bagattini says that its Woolies Dash on-demand service “is now profitable on a fully costed basis without any supplier funding”. Dash is live in “750+ areas” according to the group, serviced from around 80 stores.

But bear in mind that Woolies has some generous margins – particularly on fresh food, which is likely to be a sizeable percentage of Dash sales.As for Pick n Pay’s asap!, we may gain some insight into its contribution – or otherwise – at the group’s May results presentation. Because of the far larger issues facing Pick n Pay, there would understandably be some reservations about its profitability.

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