Shoprite jumps as market share gains help offset pain of civil unrest

Shoprite’s shares were on track for their best day in almost three months on Monday, after Africa's largest grocery retailer said quarterly sales grew by almost double digits despite civil unrest in July that caused R1.25bn in damage to property and stock.

Sales increased 9.3% to end-September, Shoprite said in a voluntary update on Monday, with its core supermarkets SA segment — represented by Shoprite, Usave, Checkers and Checkers Hyper — continuing to report market share gains...A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

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