Wrap Text
Operational update for the six months
ended 28 December 2025
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 six months ended 28 December 2025
This voluntary announcement and guidance pertains to the six-month period to
28 December 2025 ("the period", "the interim period" or "the six months").
Sale of merchandise from continuing operations
For the interim period the Shoprite Group increased sale of merchandise
from continuing operations by 7.2%, measuring approximately R136.8 billion.
This growth, reported against the Group's restated* R127.6 billion sales
from continuing operations for the interim period ended 29 December 2024
("first half 2025" or "prior period"), equates to an additional
R9.2 billion in sales generated for the six months under review.
Sales growth per segment is outlined below:
% Sales growth over the corresponding
period last year
H1 H1 Q1 Q2
Approximate sales ended ended ended ended
from continuing 28 Dec '25 28 Dec '25 28 Sep '25 28 Dec '25
operations Rbn % % %
Total Group 136.8 7.2 8.0 6.5
By segment:
Supermarkets RSA 115.3 7.1 7.9 6.5
Supermarkets Non-RSA 11.6 12.1 12.9 11.3
Other operating segments 9.9 3.5 4.8 2.3
* Restated for the classification of the Group's operations in Ghana,
Malawi and furniture business in Angola and Mozambique as discontinued
operations in accordance with IFRS 5: Non-current Assets Held for Sale
and Discontinued Operations.
The following information provides context to the overall sales growth from
continuing operations for the interim period:
Supermarkets RSA
- The Group's core business, Supermarkets RSA, contributing 84.3% to
Group sales, achieved sales growth of 7.1%, adding an additional
R7.7 billion in sales over the six months.
- In support of customer affordability, our selling price inflation
continued to remain well below official food inflation which measured
4.7% for the six months versus our internal selling price inflation
which averaged 0.7% for the period (Q1 2026: 1.4%; Q2 2026: 0.1%).
Supermarkets RSA segment internal selling price inflation vs. Stats SA food
and non-alcoholic beverages inflation
H1 2026 H1 2025 H1 2024 H1 2023
Official food and
non-alcoholic beverages
inflation(1) 4.7% 3.7% 8.7% 11.6%
Supermarkets RSA internal
selling price inflation 0.7% 1.9% 7.7% 9.4%
(1)Source: Stats SA, Consumer Price Index
- Like-for-like sales increased by 1.9%, reflecting an environment of
prolonged selling price inflation decline which moved into deflation
during our key November - December 2025 trading period.
- Per NielsenIQ, for the six-month period, Supermarkets RSA's growth
measured 2.3 times the 'rest of market' growth.
- Shoprite and Usave, inclusive of Shoprite LiquorShop, reported sales
growth of 5.1% noting internal selling price deflation for the period
for Shoprite -0.1% and Usave -0.7%. Shoprite LiquorShop increased
sales by 10.1%.
- Checkers and Checkers Hyper, inclusive of Checkers LiquorShop, reported
sales growth of 8.9% noting internal selling price inflation for the
period for Checkers 1.9% and Checkers Hyper 1.1%. Checkers LiquorShop
increased sales by 12.7%.
- On-demand digital commerce sales via the Sixty60 platform increased
by 34.6%.
- Adjacent businesses reported sales growth of 70.9%(2). It is worth
noting that within adjacent businesses our developing store formats,
namely Petshop Science, Uniq Clothing by Checkers, Checkers Outdoor
and Little Me, increased sales by 71.2%.
- Supermarkets RSA opened a net 262 stores over the past 12 months to
total 2 747 stores. Of these net new openings, 50 were Shoprite,
42 Usave, 32 Checkers, four Checkers Hyper and 81 LiquorShop stores.
The remaining 53 net new stores were new format stores: Petshop Science
added 45 new stores to total 173 stores; Checkers Outdoor added five
new stores to total 31 stores; Uniq clothing by Checkers added five
new stores to total 35 stores and Little Me closed two stores to total
10 stores.
Supermarkets Non-RSA
- In the Group's reporting currency, the rand, Supermarkets Non-RSA's
sales increased by 12.1%. This equates to an 8.4% contribution to
Group sales.
- In constant currency, Supermarkets Non-RSA increased sales by 9.5%.
- The segment's store base increased by a net 15 stores (seven Shoprite,
eight LiquorShop) over the past 12 months, totaling 272 stores across
seven countries.
Other operating segments
- The Group's Other operating segments comprising OK Franchise,
Transpharm together with Medirite Pharmacies, Red Star Wholesale
Catering Services and Computicket, reported sales growth of 3.5%.
The segment represents 7.3% of Group sales.
- The Group's sales to its OK Franchise operation increased by 1.7%,
similarly reflecting low selling price inflation together with the
store base decreasing by a net of nine stores over the 12 months to
end the period with 614 stores.
- Our Medirite business increased sales by 13.5% for the period, ending
the period with 22 Medirite Plus stand-alone retail pharmacies and
118 in-store dispensaries located within our supermarket operations.
The Group's pharmaceutical distributor, Transpharm, increased sales
by 5.5%.
(2)Delivery recoveries and subscription income previously included
within adjacent businesses have been reclassified to the respective
supermarket brands within Supermarkets RSA. To ensure accurate
comparability with the current period information, the comparative
period has been reclassified within the Supermarkets RSA segment and
has had no impact on the total sale of merchandise reported for
Supermarkets RSA.
Voluntary earnings guidance
Shareholders are advised that headline earnings per share (HEPS) and diluted
HEPS from continuing operations for the six-month period to 28 December 2025
are expected to be within the ranges reflected in the table below:
H1 2025
H1 2025 Restated*
Reported as part of
interim the 2026
period interim H1 2026 Expected
2025 results Estimated change
Continuing
operations:
HEPS 662.3 cents 659.8 cents 694.0 to 727.0 cents 5.2% to 10.2%
Diluted
HEPS 659.9 cents 657.3 cents 692.5 to 725.3 cents 5.4% to 10.3%
* Restated for the classification of the Group's operations in Ghana,
Malawi and furniture business in Angola and Mozambique as discontinued
operations in accordance with IFRS 5: Non-current Assets Held for Sale
and Discontinued Operations.
Additional information
We highlight the following for consideration in terms of the interim
period's result:
1. Update on the sale of the Group's furniture business to
Pepkor Holdings Ltd
As outlined in our first quarter 2026 update, the Group successfully
concluded the sale of our non-South African furniture businesses
(excluding Angola and Mozambique), previously classified as held for
sale, effective 1 October 2025. We can confirm that proceeds in the
amount of R568 million have been received subsequent to our interim
period close.
With regards to the process relating to the remaining RSA furniture
business classified as held for sale, the approval process is ongoing.
2. Update on the Group's share buy-back programme
There were no repurchases during the interim period.
Pro forma financial information
The pro forma financial information contained in this announcement is the
responsibility of the Group's Board of Directors and has been prepared for
illustrative purposes only. It may not fairly present the Group's financial
position, changes in equity, results of operations or cash flows:
1. Like-for-like sales growth is a measure of the growth in the Group's
year-on-year sales, removing the impact of new store openings and
closures.
2. The Group discloses unaudited constant currency information to indicate
the Supermarkets Non-RSA operating segment's performance in terms of
sales growth, excluding the effect of foreign currency fluctuations.
To present this information, the interim period sales for entities
reporting in currencies other than South Africa rand are converted from
local currency actuals into South Africa rand at the prior period's
actual average exchange rates on a country-by-country basis.
The table below sets out the percentage change in sales, based on the
actual results for the period, in reported currency and constant
currency for major currencies. The total impact on Supermarkets
Non-RSA is also reflected after consolidating all currencies in this
segment.
% Change in sales from continuing Reported Constant
operations on the prior period 26 weeks currency currency
Angola kwanza 5.6 9.3
Mozambique metical (10.7) (8.0)
Zambia kwacha 22.1 9.9
Total Supermarkets Non-RSA 12.1 9.5
The information contained in this announcement has not been reviewed
or reported on by the Group's external auditors.
Group interim results release, webcast presentation invitation and
registration link
Shoprite Holdings is currently in its closed period and will release its
2026 interim results on the JSE Stock Exchange News Service (SENS) by
08:00 (SAST, GMT +2) on Tuesday, 3 March 2026.
The Group's 2026 interim results webcast presentation will commence at
09:30 (SAST, GMT +2) on Tuesday, 3 March 2026.
Shoprite Holdings CEO Pieter Engelbrecht invites all who would like to
attend the webcast presentation to do so by registering via the Group's
shareholder diary page on the Group's website or alternatively, via
https://www.corpcam.com/shoprite03032026.
2 February 2026
Cape Town
Sponsor
Nedbank Corporate and Investment Banking, a division of Nedbank Limited
Enquiries:
Shoprite Holdings Limited
Pieter Engelbrecht, Chief Executive Officer
Anton de Bruyn, Chief Financial Officer
Natasha Moolman, Group Head Investor Relations nmmoolman@shoprite.co.za
Date: 02-02-2026 08:00:00
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