Boxer eyes expansion with 60 new stores and R1.2 billion investment

IN BOXER'S first annual report since its listing on the JSE, the retailer revealed its ambitious plans for the 2026 financial year.

- PHILIPPA LARKIN

The company aims to open 60 new stores (25 Superstores and 35 liquor stores), invest R1.2 billion in capital expenditure, and further expand and enhance the infrastructure that supports its growth and efficiency. As South Africa's fastest-growing discount supermarket chain, Boxer acknowledged the emerging challenges ahead, including low price inflation, rising cost inflation, annual listing-related expenses, and increased competition within the market.

Board chairperson James Formby reflected on the milestone, stating, "The listing of Boxer Retail Limited on the JSE and A2X in November 2024 was a defining moment for the Boxer Group. It marked a point of pride, purpose, and the culmination of decades of hard work, consistent execution, and strong performance in a highly competitive market."

While the primary motivation for Boxer's listing was to meet the recapitalisation needs of its largest shareholder, Pick n Pay Stores, Formby noted that the process also provided Boxer with a rare opportunity to emerge as a stand-alone entity, gain visibility in the retail industry, access capital markets, and accelerate its growth strategy.