# South Africa’s largest retailer Shoprite has reported a 12.2-percent increase in annual headline earnings, driven by steady sales growth and expansion in its core grocery business. Merchandise sales from continuing operations increased 7.2-percent to 270.8-billion-rand in the 52 weeks to June 28, from 252.7-billion-rand a year earlier. Shoprite says its focus is on affordability supported growth, while its South African supermarket operations and digital businesses continued to perform strongly. Shoprite CEO Pieter Engelbrecht says the group’s performance reflects its ability to deliver value to customers while continuing to grow its businesses.
Shoprite lifts earnings by 12.2%