Shoprite Annual Sales Up 13.6%, Poised To Grow Market Share

With consumer confidence still broadly weak - reflecting the ongoing strain of the 2009 downturn on household finances and an official unemployment rate of about 25% - despite the recent pick up in headline retail sales (see chart) and South Africa's successful hosting of the World Cup, BMI believes that the leading mass grocery retailers (MGR) will have to continue investing significantly in value. Geared largely towards the low-middle ends of the retail market, we think Shoprite - the largest MGR by annual sales - is well placed to push ahead of Pick 'n' Pay as South Africa's leading grocery

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