South African retailer Shoprite Holdings reported a 12.2% increase in annual headline earnings, supported by steady sales growth and continued expansion of its core grocery business.
Headline earnings per share from continuing operations rose to 15.32 rand ($0.95) for the 52 weeks ended June 28, 2026, from a restated 13.65 rand in the previous financial year.
The retailer, which is South Africa’s largest supermarket group, said earnings before interest, income tax, depreciation and amortisation increased 7.7% to 25.8 billion rand ($1.60 billion), compared with 23.9 billion rand ($1.49 billion) a year earlier.
Group sales from continuing operations rose 7.2% to 270.8 billion rand ($16.83 billion), reflecting growth across its supermarket operations.
Shoprite’s core South African supermarket business recorded a 7.1% increase in sales to 228.7 billion rand ($14.21 billion). The rest of Africa supermarket segment performed more strongly, with sales rising 11% during the period. On a constant-currency basis, sales in the segment increased 7.1%.
The company also reported a modest improvement in its gross margin, which increased to 24.5% from 24.3% a year earlier.
The earnings growth came as Shoprite continued to expand its grocery operations across its African markets, while maintaining sales momentum in its largest market, South Africa.
The retailer has increasingly focused on strengthening its grocery and convenience businesses as consumers across the region remain under pressure from elevated living costs and changing spending patterns.
Shoprite’s latest results also showed continued shareholder returns. The company’s board declared a final dividend of 566 cents per share, an increase of 14.1% from the previous year.
The results follow Shoprite’s earlier forecast that annual headline earnings could increase by as much as 14.7%. The company had reported a 7.2% increase in merchandise sales to about 270.8 billion rand ($16.83 billion) for the financial year.
Shoprite’s performance contrasts with the broader pressure facing parts of South Africa’s retail sector, where consumers have remained sensitive to prices and household spending has been constrained.
The company’s ability to grow sales while expanding margins and increasing shareholder distributions underscores the resilience of its grocery-led business model.
Shoprite operates across several African markets, with South Africa remaining its largest market and the rest of the continent providing an important source of sales growth.This keeps the reporting direct and business-focused, while converting the rand figures to US dollars as requested.
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Emmanuel Abara Benson is a business journalist and editor covering artificial intelligence, global markets, and emerging technology.
He has previously worked with Business Insider Africa and Nairametrics, reporting on finance, startups, and innovation.
His work focuses on AI, digital economy, and global tech trends.
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