Africa & Middle East news & analysis

01 March 2021
South Africa-based Woolworths has reported a positive trading update for the 26-week period ending 27 December 2020, with its performance driven by its food operations. The retailer said group sales fell by 0.5% at constant currency terms but rose by 5.3% excluding exchange rate effects. Woolworths said the results showed the ‘ improved trading momentum across all businesses over the final six...
25 February 2021
Walmart-owned, South Africa-based Massmart released a trading update for the 52-week period ending 27 December 2020, noting full year sales fell 7.7% to ZAR86.5 bn (US$5.9 bn). The retailer reported comparable sales contracted by 7.5% in the year, although it had seen an improvement in performance in Q4. Q4 sales contracted 4.1% The retailer said sales in its fourth quarter were down 4.1% o...
18 February 2021
South Africa-based SPAR Group reported sales growth of 9.8%, to ZAR42.99 bn (US$3.0 bn), during the 18-week period to the end of January 2021. The Group enjoyed growth across all its country operations, with a strong advance in performance seen in Poland. Growth in South Africa impacted by lost liquor sales In its home market SPAR reported group sales growth of 3.4%, with its performance af...
17 February 2021
South Africa-based Shoprite has reported total sales growth (including Supermarkets RSA LiquorShop) of 4.7%, to ZAR83.4 bn (US$5.8 bn). Excluding the effect of the liquor stores, which were impacted by COVID-19 nationwide lockdown regulations, sales rose by 6.3%. Results show improving performance during the half In its home market Shoprite reported sales growth of 5.6% in the half (includi...
25 January 2021
South Africa-based, Walmart-owned Massmart has published a sales update for its 2020 financial year, noting trading its fourth quarter improved as ‘ many of the previously imposed Covid-19 related trading restrictions [were] lifted, which allowed trading to resume in most categories . However, the continued restrictions on the sale of liquor had a strong impact on its overall performance. Sale...
18 January 2021
South Africa-based Pick n Pay have announced that Richard Brasher will retire from his role as chief executive from 21 April 2021. The retailer said that Brasher will be succeeded as CEO by Pieter Boone, who was formerly the chief operating officer of Metro AG. Brasher to leave Pick n Pay in stronger position than when he arrived Brasher leaves after eight years as chief executive of Pick n...
23 November 2020
South Africa-based Woolworths has reported a 20-week trading update, saying group sales rose contracted by 2.0% in constant currency terms as restrictions implemented because of COVID-19 affected results. It said restrictions had caused lower footfall at stores that were open, while they led to unplanned store closures too. Woolworths Food remained resilient throughout… While Woolworths fac...
20 November 2020
SPAR South Africa has published full year results for the year ending September 2020, saying turnover rose 13.5% to ZAR124.3 bn (US$8.1 bn). The company’s operating profit increased by 15.6% to ZAR3.4 bn (US$220.6m), with its profitability ‘ positively impacted by a change in sales mix as increased home consumption drove higher-margin grocery and fresh categories ’. ‘ A year in crisis ’ SPA...
19 November 2020
Shoprite has reported sales growth of 3% in the first quarter of 2021, a performance that was heavily impacted by restrictions on its business in South Africa due to COVID-19. The results were a marked slowdown on its performance in the same quarter in 2019, when sales grew by 7.3%. Shoprite sees sales growth slow in Q1… Shoprite reported total sales growth of 6.0%, excluding its LiquorShop...
04 November 2020
Following updates from South Africa-based Woolworths and Walmart-owned Massmart, we round up news from the retailers. Woolworths SA invests in prices… Woolworths is to invest ZAR1.0 bn (US$61.4m) in prices over the next two to three years. ZAR750m (US$46.0m) will be invested in its food business and ZAR250m (US$15.3m) in its fashion business. In the first phase Woolworths will invest ZAR500...