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South African (JSE) Food and Staples Retail Industry Analysis

UpdatedSep 22, 2026
DataAggregated Company Financials
Companies8
  • 7D1.9%
  • 3M0.2%
  • 1Y-4.5%
  • YTD-2.2%

The Food and Staples Retail industry is up 1.9% in the last week, with Clicks Group up 9.4%. In contrast, the industry has lost 4.5% in the last 12 months. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

Has the South African Food and Staples Retail Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 22 Sep 2026R457.1bR929.8bR23.0b21.4x19.9x0.5x
Thu, 20 Aug 2026R444.6bR922.7bR22.3b21.7x19.9x0.5x
Sat, 18 Jul 2026R443.6bR922.7bR22.3b20.3x19.9x0.5x
Mon, 15 Jun 2026R453.1bR920.4bR22.8b16.5x19.9x0.5x
Wed, 13 May 2026R449.4bR919.1bR23.3b17.8x19.3x0.5x
Fri, 10 Apr 2026R449.2bR915.8bR23.0b20x19.5x0.5x
Sun, 08 Mar 2026R441.7bR915.8bR23.0b18.5x19.2x0.5x
Tue, 03 Feb 2026R462.3bR898.2bR22.3b20.9x20.8x0.5x
Thu, 01 Jan 2026R469.3bR898.2bR22.3b22.4x21.1x0.5x
Sat, 29 Nov 2025R472.4bR917.8bR23.0b20.1x20.5x0.5x
Mon, 27 Oct 2025R506.7bR913.5bR22.6b21.2x22.4x0.6x
Wed, 24 Sep 2025R480.8bR909.7bR22.3b20.4x21.5x0.5x
Fri, 22 Aug 2025R498.2bR903.4bR21.6b21.2x23x0.6x
Sun, 20 Jul 2025R493.8bR903.4bR21.6b21.7x22.8x0.5x
Tue, 17 Jun 2025R478.5bR903.4bR21.6b20.8x22.1x0.5x
Thu, 15 May 2025R504.2bR899.2bR18.9b21x26.7x0.6x
Sat, 12 Apr 2025R470.6bR896.2bR18.8b20.9x25.1x0.5x
Mon, 10 Mar 2025R481.2bR896.2bR18.8b21.5x25.6x0.5x
Wed, 05 Feb 2025R505.2bR880.8bR18.5b20.5x27.3x0.6x
Fri, 03 Jan 2025R509.6bR880.8bR18.5b20.3x27.5x0.6x
Sun, 01 Dec 2024R518.8bR841.3bR17.1b21.5x30.4x0.6x
Tue, 29 Oct 2024R452.9bR727.4bR19.3b26.8x23.5x0.6x
Thu, 26 Sep 2024R470.9bR723.6bR19.0b28.8x24.8x0.7x
Sat, 24 Aug 2024R459.1bR705.2bR18.4b28.9x25x0.7x
Mon, 22 Jul 2024R439.0bR705.2bR18.4b27.1x23.9x0.6x
Wed, 19 Jun 2024R430.6bR705.2bR18.4b27.1x23.5x0.6x
Fri, 17 May 2024R424.1bR809.0bR18.5b27.6x23x0.5x
Sun, 14 Apr 2024R402.6bR807.2bR18.3b27.3x22x0.5x
Tue, 12 Mar 2024R428.2bR807.2bR18.3b29x23.3x0.5x
Thu, 08 Feb 2024R436.5bR770.4bR17.6b28.5x24.8x0.6x
Sat, 06 Jan 2024R436.6bR848.7bR15.9b28.3x27.5x0.5x
Mon, 04 Dec 2023R418.1bR840.3bR17.3b21.8x24.2x0.5x
Wed, 01 Nov 2023R398.3bR837.0bR17.4b20.6x23x0.5x
Fri, 29 Sep 2023R410.0bR832.4bR18.4b20.1x22.3x0.5x
Price to Earnings Ratio

22.3x


Total Market Cap: R410.0bTotal Earnings: R18.4bTotal Revenue: R832.4bTotal Market Cap vs Earnings and Revenue0%0%0%
South African Food and Staples Retail Industry Price to Earnings3Y Average 23.3x202420252026
Current Industry PE
  • Investors are pessimistic on the South African Consumer Retailing industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 19.9x which is lower than its 3-year average PE of 23.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.54x.
Past Earnings Growth
  • The earnings for companies in the Consumer Retailing industry have grown 7.7% per year over the last three years.
  • Revenues for these companies have grown 3.8% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

Which industries have driven the changes within the South African Consumer Staples industry?

ZA Market-0.87%
Consumer Staples2.16%
Food and Staples Retail1.94%
Drug Retail7.56%
Food Retail1.25%
Food Distributors0.54%
Big Box Super Stores0%0
Industry PE
  • Investors are most optimistic about the Food Retail industry even though it's trading below its 3-year average PE ratio of 26.9x.
    • Analysts are expecting annual earnings growth of 17.2%, which is higher than its past year's earnings growth of 12.5% per year.
  • Investors are most pessimistic about the Drug Retail industry, which is trading below its 3-year average of 26.7x.
Forecasted Growth
  • Analysts are most optimistic on the Food Retail industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings growth rate of 12% per year.
  • In contrast, the Drug Retail industry is expected to see its earnings grow by 5.9% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
CLS Clicks GroupR206.479.4%
+R4.1b		-42.5%PE14.5x
BOX Boxer RetailR81.216.9%
+R2.4b		22.3%PE23.6x
SPP SPAR GroupR45.3612.4%
+R962.7m		-54.8%PE25.4x
DCP Dis-Chem PharmaciesR27.104.0%
+R890.4m		-20.3%PE23.7x
PIK Pick n Pay StoresR19.284.0%
+R543.4m		-23.7%PS0.1x

Latest News

DCP
R27.10
Dis-Chem Pharmacies
7D
4.0%
1Y
-20.3%
BID
R447.48
Bid
7D
-0.08%
1Y
4.1%
Narrative Update • Sep 21

BID: Higher Dividend And Firmer Margins Support Measured Upside

Analysts have nudged their fair value estimate for Bid up from ZAR496.20 to about ZAR512.11. This reflects slightly revised assumptions on profit margins, revenue growth and forward P/E levels.
KAL
R47.98
KAL Group
7D
0.4%
1Y
17.3%
PIK
R19.28
Pick n Pay Stores
7D
4.0%
1Y
-23.7%
Narrative Update • Sep 17

PIK: Leadership Succession In Finance Will Support Turnaround And Long-Term Upside Potential

Analysts have revised their price target for Pick n Pay Stores to ZAR22.00 from about ZAR33.95, reflecting updated assumptions for discount rates, revenue growth, profit margins, and a lower future P/E multiple. What's in the News for Pick n Pay Stores Pick n Pay Stores announced that Chief Finance Officer Ms Lerena Olivier plans to retire with effect from 6 August 2026, following the conclusion of the 2026 Annual General Meeting.
SPP
R45.36
SPAR Group
7D
12.4%
1Y
-54.8%
Narrative Update • Sep 17

SPP: Higher Institutional Ownership And Stable Margins Will Support Share Price Rebound

Analysts have lowered their SPAR Group price target from ZAR66.29 to ZAR55.91. This reflects updated views on slightly adjusted revenue growth, profit margin assumptions and a reduced future P/E multiple.
SHP
R319.92
Shoprite Holdings
7D
-0.07%
1Y
14.6%
Narrative Update • Sep 17

SHP: Future Returns Will Be Driven By Rising Dividends And Margins

Analysts have raised their price target for Shoprite Holdings from ZAR339.94 to ZAR358.13, citing updated assumptions that include a slightly lower discount rate, a modestly adjusted revenue growth outlook, a higher projected profit margin, and a small change in future P/E expectations. What’s in the News for Shoprite Holdings The Board of Shoprite Holdings has declared a final dividend of 566 cents per ordinary share, with payment scheduled for 28 September 2026.
CLS
R206.47
Clicks Group
7D
9.4%
1Y
-42.5%
Narrative Update • Sep 08

CLS: Higher Future P/E Assumptions Will Support Further Share Price Upside

The latest narrative update on Clicks Group reflects a revised analyst price target, with fair value moving from ZAR338.50 to ZAR318.71. Analysts have adjusted assumptions for the discount rate, revenue growth, profit margin and future P/E in their updated models.
BOX
R81.21
Boxer Retail
7D
6.9%
1Y
22.3%