Markets/South Africa/News

South Africa news

01 February 2023
Shoprite’s results for the half year ending January 1 st 2023 show despite the challenges the retailer faced, it was a good end to the year. Key figures Total Group (including supermarkets and LiquorShop) : sales +16.8% to R106.3bn   Supermarkets (including LiqourShop) : sales +17.5% to R85.1bn Like-for-like sales +11% 191 net new stores were added over the previou...
29 August 2022
Walmart and Massmart have reached an agreement in principle on a R6.4 bn offer from Walmart to acquire the outstanding shares (47%) in Massmart that it does not already own. Missed expectations Walmart initially acquired a 51% stake in Massmart in 2011. While it was seen as a long-term investment in the region, to capitalise on a significant growth opportunity, the deal hasn’t lived up to i...
21 June 2022
Our latest research reveals that Walmart’s revenue is set to reach almost $750 bn by 2027. Between 2021 and 2027 it is expected to grow by 4.7% on a CAGR basis, reaching $747.6 bn. $180 bn growth opportunity Our new report Strategic outlook for Walmart , reveals that Walmart’s growth will be led by its operations in the USA, India and Mexico. Over recent years the retailer has recast i...
17 February 2022
As Walmart’s revenue approaches $570bn, we look at what’s driving its continued strong performance and consider what’s next for the business as it starts to gain traction with its flywheel model. Walmart's key numbers Walmart's total revenue in Q4 increased by 0.5% to $152.9bn, negatively impacted by divestments of $10.2bn Sales in its US stores increased by 5.7%, with Sam’s Club up 1...
02 September 2021
In separate developments, Walmart-owned Massmart and Shoprite have announced plans to exit several markets across Africa. The exits underline South African retailer’s growing focus on profitability and desire to sell off non-core assets to enable them to invest in faster growing areas of their operations. Massmart to exit five markets… Following its sale of non-core retail assets to Shopr...
26 August 2021
Walmart majority-owned Massmart is divesting non-core retail assets to Shoprite Checkers, the leading grocery retailer in South Africa. The retailer has also confirmed that it is in talks to acquire a controlling stake in OneCart, the country’s leading grocery delivery service. Divesting Cambridge Food, Rhino Cash and Carry and Masscash Cash and Carry Massmart is divesting its Cambridge Foo...
19 July 2021
Having undertaken three major divestments in the last year and digital growth set to outpace sales through physical formats, a very different Walmart will emerge over the next five years. We highlight the five major changes to plan for. Business in transformation Walmart is the world's largest retailer, with activities spanning North America, Latin America, Asia and Africa. It has emerged a...
18 May 2021
SPAR International has published sales for 2020 showing it had grown by 7.4% at constant currencies to €39.8 bn. Its performance was driven by its operations in Western Europe, where sales grew by 12% in the 2020 calendar year. SPAR presence continued to grow in 2020… Despite the challenging operating environment, SPAR continued to expand in existing markets and into new ones as well. At th...
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...