JSE-listed SA retailers such as Shoprite and Walmart-owned Massmart are steeling themselves for a far tougher inflationary environment.
the maize price is dictated by the international futures market.
Engelbrecht told the investor presentation that through its Xtra Savings Rewards programme, Shoprite had given its customers about R4.5bn in savings in the six-month result period and it remained the “lowest price retailer”. “The extraordinary growth in sales and profits reported by the group for the first half of our 2022 year is testament to the capable people of Shoprite, united in their commitment to the group’s millions of customers throughout SA and Africa.
“Inflation on commodities without a doubt is going to impact pricing in the market and it is going to impact the price of products. I don’t know to what extent it is going to run and for how long, and it is also very dependent on what happens in the conflict and what happens with global supply chains.