Boxer expands footprint: 48 new stores opened, targeting 60 more by 2026
Boxer Retail will invest R1.2bn in new stores and a distribution centre in KwaZulu-Natal this year. The grocery retailer added 48 new stores in the 52 weeks to March, bringing its total store network across South Africa and Eswatini to 525.
This resulted in 3,000 new jobs, taking its total staff complement to close to 32,000. Boxer is targeting another 60 stores (25 superstores and 35 liquor stores) in the 2026 financial year. The company, which was unbundled from Pick n Pay and listed on the JSE in November last year, reported a 13.2% growth to R42.3bn.
Trading profit increased 9.9% to R2.3bn, at a trading margin of 5.5%. 'The results are a testament to our powerful discount model underpinned by a deep understanding of our customers' needs,' the company said.
'We drive volume growth by giving customers great value, enabling us to expand our store network and improve our efficiency, all of which helps us deliver even better prices for our customers.
'It's a model that continues to work, and we're excited about the opportunities ahead and future growth. While there will be continued economic pressures, this is where Boxer really thrives, and we are resolutely focused on execution to capture growth opportunities, which remains our primary focus,' said Marek Masojada, Boxer CEO.
Boxer operates in the lower market segment and competes with Shoprite, Usave and Spar's SaveMor.
Boxer said 'it's lean discount model, efficient supply chain, and focused expansion give it a strong edge in South Africa's evolving retail landscape.'
The company has 1.9-million members on its loyalty rewards programme, which was launched in October last year.
It has partnered with Capitec to offer rewards members a discount on 5KG Goldi chicken.
The partnership comes hot on the heels of similar collaborations between Pick n Pay and FNB, and Checkers and Standard Bank, who are offering discounts to clients.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
TimesLIVE
2 days ago
- TimesLIVE
Wimbledon 2025 prize money: how much do tennis winners receive?
The four Grand Slams in the sport of tennis offer a trophy, a place in the history books and significant prize money. Here is what you need to know about the prize pot on offer at Wimbledon 2025, the third major of the year: The Championships will run from June 30 to July 13. The total prize money is a record £53.5m (R1.2bn) , a 7% increase on 2024 and double what was offered a decade ago. Men's and women's single players will earn: First round: £66,000 (R1.6m) Second round: £99,000 (R2.4m) Third round: £152,000 (R3.6m) Round of 16: £240,000 (R5.8m) Quarter-finals: £400,000 (R9.7m) Semi-finals: £775,000 (R18.8m) Runner-up: £1.5m (R37m) Champion: £3m (R73m). The winners of the men's and women's singles in 2024, Spaniard Carlos Alcaraz and Czech Barbora Krejcikova, received £2.7m (R65.5m) each in prize money. Australian Open 2025 singles champions, Italian Jannik Sinner and American Madison Keys, received A$3.5m (R40.6m) each in prize money. French Open 2025 singles champions, Alcaraz and American Coco Gauff, took home €2.55m (R52.7m) each. US Open 2024 singles champions, Sinner and Belarusian Aryna Sabalenka, received $3.6m (R64.4m) million each. Significant pay hikes at the Grand Slams were central to the demands of the world's top players in their letter to the four majors recently. The prize money on offer in men's and women's doubles at Wimbledon 2025 is: First round: £16,500 (R3999,000) Second round: £26,000 (R629,000) Third round: £43,750 (R1m) Quarter-finals: £87,500 (R2.1m) Semi-finals: £174,000 (R4.2m) Runners-up: £345,000 (R8.3m) Champion: £680,000 (R16.4m). The prize money offer in mixed doubles is: First round: £4,500 (R109,000) Second round: £9,000 (R218,000) Quarter-finals: £17,500 (R423,000) Semi-finals: £34,000 (R823,000) Runners-up: £68,000 (R1.6m) Champion: £135,000 (R3.2m). Reuters
IOL News
2 days ago
- IOL News
SA markets under pressure as geopolitical tensions escalate and US Fed signals caution
Johannesburg Stock Exchange JSE The rand fell 0.6% to R18.12 against the US dollar during early morning trade but still remained above the R18-mark by late afternoon while the JSE All Share Index eased by 0.2% to 94 785 points. Image: Gianluigi Guercia / AFP South African markets traded on the backfoot on Thursday on the back of geopolitical risks arising from the war in the Middle East and the US Federal Reserve (Fed) revised down its growth forecasts for the US. The rand fell 0.6% to R18.12 against the US dollar during early morning trade but still remained above the R18-mark by late afternoon while the JSE All Share Index eased by 0.2% to 94 785 points. The markets have remained on edge across the world as the war between Israel and Iran has intensified, pushing global oil prices to their highest in four months. An Iranian missile barrage left at least 240 people wounded as they struck several sites across Israel, damaging a hospital in the country's south while targeting a military site. Israel also attacked Iran's Arak heavy water nuclear reactor as the two countries traded fire for a seventh consecutive day. The war in the Middle East saw the Brent crude oil price rising 1.7% above $78 per barrel on Thursday as the main concern for the oil market remains the Strait of Hormuz, a vital route for a fifth of global crude. Oil prices are now trading nearly 9% higher since Israel's initial strikes on Iran, with energy markets increasingly pricing in the chance of deeper supply disruptions. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Adding to tensions, senior US officials are reportedly preparing for a possible strike on Iran in the coming days, signaling Washington's readiness to enter the conflict. However, mixed signals remain, as the White House has given little indication of whether the US would support strikes on Tehran's nuclear facilities. Nigel Green, CEO of deVere Group - an independent financial advisory and asset management firm - said global financial markets were likely to suffer a rapid and sharp selloff if the US launches direct military strikes against Iran. Green said a direct US military intervention could push crude significantly higher, especially if key infrastructure or shipping lanes are affected. 'The world economy is not in a strong position to absorb another energy shock,' Green said. 'If oil spikes from here, inflation expectations will shift, interest rate cut expectations will fade, and that would create a double blow for equities already priced for perfection.' Separately, the US Fed on Wednesday kept interest rates unchanged at 4.25%–4.50% for a fourth consecutive meeting but signaled two possible cuts by year-end. However, the Fed trimmed one cut for both 2026 and 2027, with the bank raising its inflation outlook and lowering its growth forecast. It comes as policymakers take a cautious stance to fully evaluate the economic impact of US President Donald Trump's policies, particularly those related to tariffs, immigration, and taxation. The Fed noted that the increases in tariffs this year are likely to push up prices and weigh on economic activity, adding that the effects on inflation could be short-lived—reflecting a one-time shift in the price level— and could instead be more persistent. It said the effects of tariffs will depend, among other things, on their ultimate level. Expectations of that level, and thus of the related economic effects, reached a peak in April and have since declined.
IOL News
2 days ago
- IOL News
Grindrod announces departure of CEO Xolani Mbambo at end of 2025
JSE-listed Grindrod has announced that its Group Chief Executive Officer, Xolani Mbambo, will step down on December 31, 2025. Mbambo has been with the company for 12 years and is leaving following what the group described as " a period of strong growth, including key concessions in Mozambique and South Africa and the successful repositioning of the business as a leading logistics platform in sub-Saharan Africa". During his tenure at Grindrod Mbambo expanded its port operations, securing new concessions in the Port of Maputo and Matola, and a 25-year deal for container handling at the Port of Richards Bay.
