Rise in average basket spend outweighs drop in customer visits
, the owner of Checkers and Usave stores, says it gained market share during the lockdown, with sales growing despite a reduction in traffic at its stores.
“SA Covid-19 lockdown regulations implemented from March 27 restricted trade in several categories within our supermarket business and as such, affected the business differently at different times,” the group said. Shoprite, which has a market capitalisation of R61.8bn, said on Monday it is writing down its businesses by R1.3bn due to a deteriorating outlook. This largely affected operations outside SA, and its furniture business.
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