Largest African Grocer Shoprite’s Margin Narrows in Market Share Race

Africa’s largest supermarket chain held prices lower in an attempt to win market share.

Shoprite Holdings Ltd.’s first-half gross margin edged lower, reflecting “low selling-price inflation, moving to deflation,” the Cape Town-based retailer said Tuesday. Trading profit at its core South African supermarkets unit rose 7.1% to 7.2 billion rand ($446 million).