'Priced for perfection.' Shoprite shares slump despite profit jump, large market gains

  • 📰 News24
  • ⏱ Reading Time:
  • 32 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 16%
  • Publisher: 80%

United States News News

United States United States Latest News,United States United States Headlines

Shoprite Group's fresh food business appears to be making serious inroads at the top end of the market, with SA's largest retailer reporting just under 30% of its total R8.1 billion full-year market share gains came from this segment.

Shoprite's fresh food business may be making serious inroads at the top end of the market, with SA's largest retailer reporting on Tuesday that just under 30% of its total R8.1 billion full-year market share gains came from this segment.

CEO Pieter Engelbrecht told News24 that the group's fresh fruit and vegetables category by itself now had the highest market share in the history of the company. Although Shoprite does not disclose this specific category's data, this would suggest that affluent customers are flocking to the group's upmarket Checkers Fresh X stores, as well as the brand's other formats. These include 1 000mRead this for free

Get 14 days free to read all our investigative and in-depth journalism. Thereafter you will be billed R75 per month. You can cancel anytime and if you cancel within 14 days you won't be billed.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 4. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

After four years of market share gains, Shoprite eyes even more with R8.5bn spendShoprite's capital expenditure could be as much as R8.5 billion in its 2024 financial year, a quarter higher than 2023, as it invests in store and supply chain expansion as well as ecommerce initiatives.
Source: News24 - 🏆 4. / 80 Read more »

Crypto market-making profit margins sink 30% in ‘wake-up call’ post-FTXCrypto market value topped $3 trillion back then but has sunk to $1.1 trillion, hurt by higher interest rates that crushed speculative ardor.
Source: Moneyweb - 🏆 5. / 77 Read more »