{"id":335691,"date":"2019-08-20T09:55:54","date_gmt":"2019-08-20T07:55:54","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=335691"},"modified":"2019-08-20T09:55:54","modified_gmt":"2019-08-20T07:55:54","slug":"checkers-is-opening-more-stores-targeting-wealthier-south-africans","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/335691\/checkers-is-opening-more-stores-targeting-wealthier-south-africans\/","title":{"rendered":"Checkers is opening more stores targeting wealthier South Africans"},"content":{"rendered":"<p>Shoprite has released its group results for the year ended 30 June 2019, reporting lower-than-expected full-year earnings as inventory shortages in South Africa and currency devaluations in the rest of Africa weighed on profit.<\/p>\n<p>Basic headline earnings per share (HEPS) for the year fell 19.6% to 780.8 cents, compared with a restated figure of 971.4 cents a year earlier.<\/p>\n<p>Excluding hyperinflation seen in some of its African operations, the group said that it increased total turnover by 3.2% to approximately R150.6 billion in the period to June 2019.<\/p>\n<p>The group\u2019s core business, Supermarkets RSA, achieved 4.9% sales growth for the period with an improved second half in which sales increased by 7.4% on the back of better customer and volume growth, as well as an improvement in on-shelf availability and promotional effectiveness.<\/p>\n<p>Other notable financials include:<\/p>\n<ul>\n<li>Sale of merchandise increased by 3.6% to R150.4 billion;<\/li>\n<li>Trading profit decreased by 14.3% to R6.9 billion;<\/li>\n<li>Diluted headline earnings per share of 779.9 cents, down by 19.6%;<\/li>\n<li>Dividend per share of 319 cents declared (2018: 484 cents);<\/li>\n<li>Opened a net of 126 stores during the 12 month.<\/li>\n<\/ul>\n<p><strong>FreshX stores<\/strong><\/p>\n<p>While the group said that it will continue to focus on core Shoprite and Usave customers, it has seen significant\u00a0success with the new Checkers FreshX stores.<\/p>\n<p>This success will see the company revamp and open new stores in this format going forward, as it targets a wealthier South African market.<\/p>\n<p>&#8220;The number of Checkers stores in the new look FreshX format now totals 21,&#8221; it said.<\/p>\n<p>&#8220;We are most pleased with returns from these upgrades and, therefore, our medium to long- term<strong> target of 80 stores<\/strong> in this format remains unchanged.&#8221;<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-332101 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-1.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-1.jpg 1000w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-1-300x200.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-1-768x512.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a> <a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-2.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-332103 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-2.jpg\" alt=\"\" width=\"1000\" height=\"749\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-2.jpg 1000w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-2-300x225.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-2-768x575.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a> <a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-3.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-332105 aligncenter\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-3.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-3.jpg 1000w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-3-300x200.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2019\/07\/Checkers-3-768x512.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p>First launched at Johannesburg\u2019s Mall of Africa in 2017, the FreshX concept stores have now been rolled out to a number of Checkers locations including Canal Walk and Fourways.<\/p>\n<p>The concept stores were introduced by Checkers as a way for the company to gain market share among more affluent South Africans, with the idea proving so popular that the group now plans to revamp at least a third of its Checkers stores to the new look in the medium term.<\/p>\n<p>Unlike traditional Checkers stores, the FreshX concept stores feature more upmarket furniture and signage \u2013 including benches and tables for customers to test samples.<\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/business\/332455\/pick-n-pay-appoints-new-chief-financial-officer\/\" target=\"_blank\" rel=\"noopener noreferrer\">Pick n Pay appoints new chief financial officer<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shoprite has released its group results for the year ended 30 June 2019.<\/p>\n","protected":false},"author":10,"featured_media":332091,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26],"class_list":["post-335691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/335691","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=335691"}],"version-history":[{"count":9,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/335691\/revisions"}],"predecessor-version":[{"id":335709,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/335691\/revisions\/335709"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/332091"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=335691"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=335691"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=335691"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}