Shares in South Africa’s biggest retailer jump 5%

Shoprite climbed the most in 11 months as Africa’s largest supermarket chain said it sees earnings rising as much as 14.7% because of higher sales at its e-commerce unit.

The South African company expects headline earnings per share from continuing operations to rise for the 52 weeks ended 28 June, it said in a regulatory filing on Wednesday.

The shares rose as much as 5.4% and were 4.9% higher by 9:13 in Johannesburg, the most since 2 September 2025.

Revenue at its Sixty60 on-demand digital commerce operation jumped 35% to R25.5 billion for the year.

Shoprite’s Sixty60 business is helping the firm take on competition from companies including Walmart Inc., which has renewed its efforts to entrench itself in South Africa.

The African chain’s Checkers and Checkers Hyper – frequented by wealthier shoppers – grew 10%, more than double the 4.3% growth of the company’s Shoprite and Usave brands, according to the statement.

More from Shoprite’s statement:

• Supermarkets in South Africa, contributing 85% of group sales, grew 7.1% to add 15.2 billion in sales
• Sales at supermarkets outside South Africa grew 11% in reported currency, or 7.1% in constant currency
• Same-store sales in its South African supermarkets unit rose 2%, compared with rest-of-market growth of 2%, according to market-intelligence firm NielsenIQ

At 12:00 on Thursday, Shoprite’s share price was up 5.05% to R298.90.