Africa's largest grocery retailer, Shoprite Holdings Ltd, posted a 26-percent rise in first-half earnings on Tuesday, and forecast continued growth in the second half of its financial year.
Shoprite said despite interest rates edging up, consumer spending remained high with no noticeable change in spending patterns in the food retail sector.
"Credit is still widely available to consumers and the swing away from cash is only now starting to stabilise in, for instance, the durable and semi-durable market," the firm said.
Read more at FIN24.co.za
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment