Value grocery retailer Boxer has reported higher turnover and remains on track to deliver its previously guided low-teens turnover growth objective for the 2026 financial year.
Turnover for the 17-week period to June 29 increased by 12.1%, and 3.9% on a like-for-like basis, compared with the 9%, and 3.7% on a like-for-like basis, in the second half of the 2025 financial year, the retailer said on Tuesday.
“Boxer has produced consistent market share gains through the period and also seen positive recent trends, as the high base from the first few months of [the 2025 financial year] normalises,” the group said in a statement.
The group reported internal food deflation of 0.6% on a volume-held-constant basis, which normalises for mix-change impacts.
Boxer said because of the distortionary impact of mix change on reported inflation, which was largely driven by the promotional strategy in any given period, it was switching to reporting volume-held-constant inflation, which more appropriately reflected the retailer’s effective selling price inflation to customers.
Despite the challenging economic environment and the mild deflation reported for the period, Boxer remains confident that it is on track to meet its previously guided low-teens turnover growth objective for the 2026 financial year, given the like-for-like momentum and store rollout programme.
Boxer opened seven Superstores and 10 liquor stores during the first four months of its 2026 financial year.
“While there is always an element of uncertainty in the precise timing of store openings, current visibility suggests that Boxer remains on track to meet its previously communicated FY26 store rollout targets,” it said.
Boxer remains confident with its 2026 financial year gross margin outlook, despite the inherent margin management challenges in a low-inflation environment.
Business Times reported in May that Boxer, which was spun out of Pick n Pay and listed on the JSE in November last year, said it would spend R1.2bn in opening new stores and on its new distribution centre in KwaZulu-Natal.
The value grocer is planning to open 60 stores (25 superstores and 35 liquor stores) during its 2026 financial year.
Outside SA, Boxer has stores in Eswatini.
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