South Africa’s largest retailer is expanding its store count – at the expense of one of its biggest business rivals.
Checkers opened five new stores in Johannesburg’s East Rand in one day – in locations that all used to be Pick n Pay franchises.
Shorprite’s latest results for the six months ended 31 December 2023 show that the group’s profit increased by 4.2% to R3.4 billion. Meanwhile, Pick n Pay’s latest results for the six months ended 27 August 2023 showed the group’s headline earnings dropped significantly from a profit of 97.73 cents per share in the prior reporting period to a loss of 138.24 cents per share.
This will see over 2,000 retail centres in South Africa open up to a wider variety of shops and stores.
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