Shoprite widens lead in South Africa after beating store-opening target early

Shoprite Holdings, Africa’s largest food retailer and a company linked to South African billionaire Christo Wiese, has exceeded its full-year store-opening target with a month still left in its 2026 financial year.

• Shoprite opened 268 stores in 11 months, exceeding its full-year target of 223.
• The expansion strengthens the retailer’s lead in South Africa’s grocery market.
• The company continues to invest heavily in store growth, logistics and e-commerce.
• Christo Wiese’s 11.5% stake in Shoprite is worth about $1.2 billion.

The retailer opened 268 new stores across its core Supermarkets RSA segment in the first 11 months of the year, surpassing its original full-year target of 223 stores.

The rollout included 41 Shoprite supermarkets, 30 Checkers stores, 48 Usave outlets and 92 LiquorShop branches.

Two newer formats also beat expectations. Petshop Science opened 38 stores, ahead of a planned 23, while UNIQ clothing by Checkers opened 13 stores, compared with a target of five.

Gauteng recorded the highest number of openings, with 82 new stores, followed by the Western Cape with 48 and KwaZulu-Natal with 31.

Shoprite said the expansion created thousands of jobs across South Africa’s nine provinces.

The aggressive rollout strengthens Shoprite’s lead in South Africa’s grocery market, where it is already the dominant player.

Industry estimates place Shoprite’s share of grocery sales at roughly one-third of the market, giving it a significant lead over competitors such as Pick n Pay and Spar.

The expansion comes at a time when several rivals continue to face pressure from weaker consumer spending, rising operating costs and intense competition in the discount retail segment.

While competitors have focused on restructuring and cost-cutting, Shoprite has continued investing heavily in new stores, logistics and digital infrastructure.

The retailer’s growing footprint is also central to its online and delivery strategy. Shoprite says its corporate-owned store network places it within five kilometres of approximately 85% of South African households, providing a significant advantage in e-commerce fulfilment and same-day grocery delivery.

Chief executive Pieter Engelbrecht has previously identified store expansion and the rollout of the group’s FreshX format as key pillars of Shoprite’s medium-term growth strategy.

The company has also been expanding newer formats such as Petshop Science and UNIQ clothing by Checkers as it seeks to capture a larger share of consumer spending beyond traditional groceries.

In the first half of its 2026 financial year, Shoprite reported group sales of $8.3 billion (R136.8 billion), up 7.2%, while headline earnings from continuing operations increased 7.7%.

The retailer also reported higher customer traffic and said it passed more than $60.4 million (R1 billion) in discounts to shoppers during the period.

The latest expansion builds on a strong 2025 financial year. Shoprite reported record sales of $15.3 billion (R252.7 billion), while trading profit rose to $902 million (R14.95 billion) and annual profit increased to $446 million (R7.39 billion), underscoring the resilience of its business despite a challenging consumer environment.

The performance is significant for Wiese, who helped transform Shoprite from a small regional retailer into Africa’s largest supermarket group through decades of acquisitions and expansion.

The retailer’s growth remains one of the most important contributors to his fortune.

Wiese, 83, owns about 11.5% of Shoprite, equivalent to roughly 68 million shares. At a share price of around $17.7 (R293), the stake is worth approximately $1.2 billion (R19.9 billion), making it one of the largest assets in his estimated $1.9 billion fortune.

Although he stepped down as chairman in 2020, Wiese remains a non-executive director and one of the retailer’s most influential shareholders.

Shoprite’s full-year 2026 results are expected in September and will provide investors with a clearer picture of whether the rapid store expansion is translating into further gains in sales, profits and market share.