Shoprite Sales Growth Slows as South African Liquor Bans Weigh
Photographer: Waldo Swiegers/Bloomberg
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Shoprite Holdings Ltd. reported slower first-half sales growth after South Africa’s alcohol bans cut revenue at the liquor shops of the country’s biggest grocer.
Sales at the local supermarkets business, which accounts for the bulk of Shoprite’s income, climbed 5.6% in the six months through Dec. 27, the Cape Town-based company said in a statement Monday. That compares with 9.8% a year earlier. LiquorShop revenue fell 22% over the same period.