Boxer plans to spend about R1bn to accelerate its expansion, targeting 60 new stores in the 2027 financial year, as the discount grocer builds strong momentum from its first full year as a listed company.
The group said the planned rollout follows a solid performance in the year ended March 2026, when it continued to gain market share despite a tough consumer environment.
Boxer, which positions itself as a low-cost retailer, increased turnover by 12.3% to R46.7bn, supported by growth in both new stores and existing outlets.
The company added 51 net new stores in the 2026 financial year, taking its total footprint to 576 outlets across South Africa. These new stores contributed 7.8% to overall turnover growth.
The store expansion also supported employment. Boxer created 3,400 new jobs, bringing its total workforce to 35,314 employees. Management said job creation would remain a key outcome as it continues to grow its store network.
Boxer’s focus on low prices remained central to its performance. The retailer reported internal selling price deflation of 1.2% for the year, meaning it reduced prices even as food inflation in the broader economy rose. This helped drive like-for-like sales growth of 4.5%, supported by strong volumes.
Profit also improved, with trading profit rising 17.3% to R2.6bn.
CEO Marek Masojada said the results highlight the strength of Boxer’s discount model, which focuses on value, efficiency, expansion, volume and, more recently, innovation.
He said the formal addition of innovation as a core pillar is already supporting growth, with initiatives such as the “B-Inside” supplier portal and the launch of its retail media platform, “B-Media”, creating new ways to engage customers and suppliers.
Looking ahead, Boxer said it remains confident in its long-term growth strategy despite uncertainty linked to higher fuel costs and potential pressure on food prices and consumer spending.
“We remain focused on disciplined execution, affordability and expanding access to value for customers,” Masojada said, adding that the group has a strong track record of navigating difficult trading conditions.
TimesLIVE
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