Shoprite Profit Gains as Food Shoppers Spend More Per Visit
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Shoprite Holdings Ltd. said customers numbers dropped but shoppers bought more per visit as Africa’s largest supermarket chain continues to grapple with the coronavirus pandemic.
Operating profit rose 19% to 9.7 billion rand ($681 million) in the year through July 4, the Cape Town-based company said in a statement on Tuesday. Visits declined 3.8%, while the average basket spend climbed 13.6%.