The major retailer taking over South Africa

·5 Feb 2026

South African value retailer Boxer is progressing with its aggressive store rollout as the Pick’n Pay-controlled company sees a massive rise in turnover.

In a trading update for the 48 weeks to 1 February, Boxer said that it was broadly on track to meet its FY26 store rollout goals.

The group previously said that it was aiming for 60 new stores for the financial year, which included 25 superstores and 35 liquor stores.

Boxer opened 25 new stores in the first half of FY26, which included nine Boxer Superstores and 15 Boxer Liquor stores.

Management is also working to meet its liquor store rollout objectives; this remains contingent on securing several outstanding liquor licences.

Boxer’s rapid share price rise is reflected in turnover for the 48 weeks to 1 February, which grew 11.9%, with like-for-like growth of 3.9%.

Trading momentum softened over the latter part of the period, with turnover for the 22 weeks to 1 February increasing 9.8% and 2.4% like-for-like.

The group said that the drop in the last 22 weeks reflects the combined impact of strong growth in September and October, a soft November, and steady improvements in December and January.

The November performance was the result of a constrained trading environment over the extended Black Friday period, together with a high November 2024 base.

According to NielsenIQ, Boxer consistently gained market share throughout the period.

Internal selling price inflation for the period, as measured on a volume-held-constant basis, was -1.0%, vs -0.7% for H1 FY26.

Boxer said it anticipates full-year FY26 sales growth will be somewhat ahead of the reported sales growth for the period, given the softer February 2025 base.

Boxer remains on track to meet its FY26 trading profit growth objective, with trading profit growing 15.1% in H1 FY26 to R931 million.