Although retail giant Shoprite posted record results for the year to July 2022, the market did not respond favourably, with the share price falling more than 7% intraday to close at R217.63.

Shoprite chief executive Pieter Engelbrecht says the group created 4,316 jobs over the past year, having shed no jobs during Covid, the July 2021 riots or the April floods.

Sales increased 9.6% to R184-billion, while shareholders saw a 10% growth in dividends to a final total dividend of 600 cents a share for the year.

A disruption plan hatched five years ago, and the acceleration of innovation across all facets of the business, has seen the retailer shoot the lights out, from its wildly popular Checkers Sixty60 on-demand delivery service to the successful Xtra Save loyalty programme, and even a money market bank account offering full transaction capabilities.

"The first thing we had to do was replatform the entire business six years ago, and that is now paying off. Our focus is on providing customers with the best value," says Engelbrecht.

"The Xtra Savings Rewards Programme resulted in members saving a tremendous R9.4-billion this year, with more than 1,800 swipes per minute - up from R5.3-billion last year....