| End-of-day quote Johannesburg S.E. Other stock markets | 5-day change | 1st Jan Change | ||
| 313.37 ZAR | +1.06% |  | +1.93% | +13.93% |
| 09-03 | Shoprite Holdings Ltd Reports Earnings Results for the Full Year Ended June 30, 2024 | CI |
| 09-03 | South African supermarket group Shoprite lifts annual profit by 7.2% | RE |
September 03, 2024 at 07:09 am
Share
2024
Results Presentation
For the 52 weeks ended 30 June 2024
01
02
03
04
Operational Review
Pieter Engelbrecht
Strategy Update
Pieter Engelbrecht
Financial Results
Anton de Bruyn
Questions
Pieter Engelbrecht
Operational Review
Pieter Engelbrecht
Chief Executive Officer
Executing with purpose and precision in FY24
Recognised as a Top Employer for 2024 by the Top Employers Institute and an Employer of Choice in the SAGEA* Employer Awards
*South African Graduate Employers Association
Employed 6 490
new team
members and | |
opened 292 net | Shoprite Group named |
new stores | |
Company of the Year at the | |
News24 Business Awards |
Launched new general
merchandise home
delivery service
Launched Xtra
Savings Plus
unlimited delivery subscription
Xtra Savings
named best loyalty
programme in
Africa at
International
Loyalty Awards
2023
Executing with purpose and precision in FY24
Shoprite Cash & Carry launched same-day bulk online deliveries
Employee Trust payouts surpassed R500 million, 2 years since launch
Won 36 marketing and innovation awards in the past year
17 private
label brand
awards,
including 12 golds at the Food and Home Awards
Proud supporter of Team South Africa
Opened 63 net new outlets in retail adjacencies in the year
(Pet, Baby,
Outdoor and
Sixty60 continues to delight and inspireClothing) South Africans as an iconic brand
Industry-leading performance
+R25.8bn
additional sales
Sales
Gross profit | Trading profit |
R240.7bn
Sales growth
+12.0%
+6.3% Like-for-like*
R57.8bn | +12.4% |
+11.7%
Gross margin | Dividend |
24.0% | 712c |
+7.4% |
* Like-for-like sales growth constitutes pro forma financial information in terms of the JSE Limited Listings Requirements.
Continuing operations
New customers, bigger baskets and higher volumes:
64 months of market share gains
Customer visits | Basket size | Products sold |
+4.5% | +6.9% | 7.4bn |
ZAR | +4.5% |
Market share gains according to NielsenIQ, 52 weeks, June 2024 incl. liquor. Rest of Market universe includes Pick n Pay, Boxer, Spar, Clicks, Woolworths, Dis-Chem, Food Lover's Market, Game, PEP, Kit Kat and OK Foods. Continuing operations
Multi-year platform investment delivering consistent results
3-year snapshot: Growth on key metrics FY21 vs FY24
2021 | 2024 | Growth % Growth |
SALES* | R167.8bn | R240.7bn | +R72.9bn | +43.4% |
OTHER OPERATING INCOME** | R2.4bn | R4.3bn | +R1.9bn | +79.2% |
DIVIDENDS | R3.0bn | R3.9bn | +R0.9bn | +30.0% |
STORE NETWORK* | 2 895 | 3 639 | +744 | +25.7% |
XTRA SAVINGS MEMBERS | 20.3m | 31.0m | +10.7m | +52.7% |
SIXTY60 DELIVERIES | +530.2% |
- Restated for the classification of the Group's DRC operations as discontinued operations in accordance with IFRS 5: Non-current Assets Held for Sale and Discontinued Operations.
- Restated for the adoption of IFRS 17: Insurance Contracts.
2024 Full Year Financial Results
Winning with customers, outpacing competitors
Supermarkets RSA sales growth +12.3% (+6.3% like-for-like*)
• Almost 2x the pace of the rest of market**
Supermarkets RSA internal inflation
vs Official food inflation
• Sales growth excluding Massmart acquisition +10.5% |
• Checkers remains the fastest growing grocer in the premium food segment |
• Sixty60 online sales growth surged +58.1% |
• Usave sales increased 13.2% |
• LiquorShop sales growth of +20.0% resulting in strong market share gains |
• Internal inflation remains below official food inflation, shielding consumers facing |
higher interest rates and rising unemployment |
• 14-year food inflation highs in prior year moderated to just 3.1% in June 2024 |
14%
13.0%
11.6% 11.1%
9.5%
8.0%
0%
8.7%
5.4%
4.2%
H1 2023 | H2 2023 | H1 2024 | H2 2024 |
H1 FY23 | H2 FY23 | HI FY24 | H2 FY24 |
Supermarkets RSA food and non-alcoholic beverages inflation
Stats SA Official food and non-alcoholic beverages inflation
Supermarkets RSA
* Like-for-like sales growth constitutes pro forma financial information in terms of the JSE Limited Listings Requirements. ** Source: NielsenIQ, 52 weeks, June 2024 incl. liquor. Rest of Market universe includes Pick n Pay, Boxer, Spar, Clicks, Woolworths, Dis-Chem, Food Lover's Market, Game, PEP, Kit Kat and OK Foods. 2024 Full Year Financial Results
Execution against strategy driving strong growth
- Significant market share gains supported by:
- Customer obsession and operational excellence
- Multi-year'Smarter Shoprite' data and tech investments
- New/upgraded store experience and better on-shelf availability
- Fresh foods development and cold chain capabilities
2024 market share gain quantified
R2.5bn R6.5bn
R6.5bn
R4.0bn
R0
Supermarkets RSA annual market share gain
(NielsenIQ, 52 weeks June 2024)
Sustained sales growth ahead of Rest of Market
Supermarkets RSA | Rest of Market | ||
20% | |||
20% | |||
18% | 17.3% | 17.1% | |
16% |
14% | 13.6% |
12%
10.2%
10%
8%
6%
4%
2%
0%
0%
H1 2023 | H2 2023 | H1 2024 | H2 2024 |
Supermarkets RSA sales growth vs Rest of Market by half
(NielsenIQ)
Supermarkets RSA Source: NielsenIQ, 52 weeks, June 2024 incl. liquor. Rest of Market universe includes Pick n Pay, Boxer, Spar, Clicks, Woolworths, Dis-Chem,Food Lover's Market, Game, PEP, Kit Kat and OK FoodsSh prite.Holdings 2024 Full Year Financial Results
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Shoprite Holdings Ltd. published this content on 03 September 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on September 03, 2024 at 06:08:07 UTC.
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Latest news about Shoprite Holdings Ltd
| Shoprite Holdings Ltd Reports Earnings Results for the Full Year Ended June 30, 2024 | CI | |
| South African supermarket group Shoprite lifts annual profit by 7.2% | RE | |
| Transcript : Shoprite Holdings Ltd, 2024 Earnings Call, Sep 03, 2024 | ||
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| Shoprite Holdings Ltd Declares Final Dividend, Payable on 30 September 2024 | CI | |
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| Pick n Pay's plan could turn South African retailer around, say analysts | RE | |
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| CI | ||
| Transcript : Shoprite Holdings Ltd, H1 2024 Earnings Call, Mar 05, 2024 | ||
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| Pick n Pay fundraising seen giving grocer time to fix core business | RE | |
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Company Profile
Shoprite Holdings specializes in retailing. Net sales break down by distribution network as follows:- supermarkets (88.9%): distribution of clothes, food, cosmetic and consumer products. At the end of June 2021, the group has 1,966 supermarkets (Shoprite, Checkers, Checkers Hyper, Usave and LiquorShop) located mainly in South Africa (1,726);- specialized stores (4%): distribution of furniture, household equipment and consumer electronic devices through 426 stores (OK Furniture and House & Home names);- other (7.1%): including franchise stores operation (513 stores under OK Foods, OK MiniMark and OK Express names).Net sales are distributed geographically as follows: South Africa (89%) and Africa (11%).
Employees
140,000
Sector
Calendar
10/03/2025 - Q2 2025 Earnings Release (Projected)
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Ratings
Trading Rating
Investor Rating
ESG Refinitiv
B
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Analysts' Consensus
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
295.00ZAR
Average target price
303.40ZAR
Spread / Average Target
+2.85%
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- Shoprite : Results presentation for the 52 weeks ended 30 June 2024 (3 September 2024)
