For the six months ending 28 December 2025, group revenue from continuing operations increased by 7.1% to R138.9bn (restated H1 2025: R129.7bn), while sales of merchandise rose 7.2% to R136.8bn, representing an additional R9.2bn in incremental sales compared to the prior interim period.
Diluted headline earnings per share (DHEPS) grew 7.9% to 708.9 cents from a restated H1 2025 base of 657.3 cents. Adjusted DHEPS increased 9.5% to 735.3 cents. The board declared an interim dividend of 307 cents per share, up 7.7% year-on-year.
Over the past 12 months, the group opened a net 273 stores, while creating 1,711 new direct jobs during the six-month period.
CEO Pieter Engelbrecht said the results were achieved during a period of very low internal selling price inflation, which averaged just 0.7% for the half year and moved into deflation during the key festive trading window.
This was significantly below Statistics South Africa’s official food and non-alcoholic beverages inflation rate of 4.7% for the period.
Together with R9.7bn in Xtra Savings discounts applied at till points, Engelbrecht said the results underscore the Group’s commitment to affordability.
“Our position regarding lowest prices and affordability is not an afterthought or something that sits at the periphery of our purpose, but rather what we choose to lead with for our customers,” he said.
The group’s core Supermarkets RSA segment — contributing 84.3% of total group sales — increased sales by 7.1% to R115.3bn.
Distinct banner performance reflected strong market segmentation execution:
The growth profile indicates gains in customer numbers and product volumes rather than price-led growth.
The group's on-demand digital platform, Checkers Sixty60, continued to gain traction, with sales increasing 34.6% to R11.9bn over the six-month period.
Digital integration remains central to the Group’s competitive advantage, reinforcing convenience and customer loyalty across income segments.
Although small relative to total group sales, Shoprite’s organically developed adjacent businesses delivered significant growth.
Petshop Science, Uniq Clothing by Checkers, Checkers Outdoor, and Little Me increased sales by 70.9%, expanding the group's value proposition.
Petshop Science, now operating more than 170 stores, continues to advance strongly, supported by integration with the Sixty60 platform.
Supermarkets' non-RSA delivered 12.1% sales growth, although constant currency growth measured 9.5%. Profitability in the segment remains under pressure, particularly due to adverse trading conditions in Mozambique.
Following the classification of operations in Ghana and Malawi, along with furniture businesses in Angola and Mozambique, as discontinued operations under IFRS 5, the Group’s continental footprint now spans seven countries, all relatively close to its South African base.
The prior period’s continuing operations have been restated accordingly, with H1 2025 DHEPS adjusted to 657.3 cents from the previously reported 659.9 cents.
Engelbrecht noted that Supermarkets RSA grew sales at 2.3 times the ‘rest of market’ growth for the period, according to NielsenIQ data. This outperformance widened to 5.3 times the rest of market growth during the critical Black Friday and December festive trading period.
“Reflecting on growth in sales, DHEPS and dividends in the context of little to no selling price inflation, deflation and rising costs is commendable,” Engelbrecht said.
He attributed the performance to disciplined planning, marketing execution and operational excellence during peak trading windows.
The interim results reinforce the group's positioning as a price-led retailer in a constrained consumer environment. With continued expansion, digital acceleration and disciplined capital allocation, Shoprite appears focused on volume-driven growth supported by affordability rather than price inflation.
Engelbrecht concluded by thanking employees and customers for sustaining trust in the Group’s brands.
“It is through this shared commitment that we remain dedicated to ensuring all of our customers can live better each day as a result.”
