Boxer Retail reports price decline and turnover growth, eyes second-half gains

Boxer Retail’s interim results to August, released on Monday, show that selling prices fell 2.4% during the 26 weeks ended August 30, 2026, compared with national food and non-alcoholic beverage inflation of 2% over the same period. The retailer’s turnover increased 6.3% to R24.1 billion, slowing from the 10.9% growth recorded in the second half of its previous financial year. CEO Marek Masojada, 61, will retire at the end of February 2027 after more than three decades with the retailer, while Justin Galloway has been appointed CEO‑designate and will take over on March 1.

Boxer also announced that it reached its 600‑store milestone, opening 24 stores during the reporting period, comprising nine Boxer Superstores and 15 Boxer Liquor outlets. By September 30, it had opened 32 stores for the financial year, against a full‑year target of 60. The company cautioned that uncertainty around food inflation, together with elevated oil and diesel prices, continued to affect its outlook.

Profit before tax and capital items rose 10.6% to R774 million, while trading profit increased 8.1% to just over R1 billion. The results coincide with Boxer’s expectation of improved turnover growth in the second half of its financial year, supported by new stores and stronger recent trading, but the short‑term outlook for food inflation remains uncertain.

Read the full story at IOL.