Shoprite Reports Strong Year-End Sales

South Africa's leading supermarket Shoprite has reported a 22.8% increase in core South African supermarket sales for the year-ended June 30 2009. Total group sales, which also include an international retail division registered ZAR59.3bn (US$7.2bn). Led by food inflation (15.8%) and further market share gains, the retailer's performance confirms the suitability of its value-geared retail model to the economic downturn - BMI has forecast South Africa's GDP to contract by 1.9% in 2009. Among South Africa's leading MGR (mass grocery retail) operators, Shoprite is probably the best placed to capitalise on our forecast that through to 2013 the supermarket segment

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