SPAR Group released its FY2025 results on Monday, presenting a mixed but generally positive operational picture for the period, although the story was overshadowed by the significant loss relating to the exits from its foreign businesses. A painful but necessary move, letting go of SPAR Poland and Switzerland means that the retailer can now focus on stabilising and growing the more profitable areas of the business closer to home. Looking at some of the key numbers from the results:

• • Total Group turnover +1.6% to R132.4bn and operating profit +2.3% to R2.8bn
  • SPAR Southern Africa wholesale turnover +2.3% to R2.8bn 
  • R6.1bn loss from the discontinued operations of SPAR Poland and Switzerland

The loss is a big one, and the Group remains with net debt of R5.4bn on its balance sheet. But signs of a turnaround are peeking through. The second half of the year saw revenue growth of +3.5%, after a slightly negative result of -0.2% in H1; its on-demand delivery offering, SPAR2U, saw a +136% increase in order volumes; and the SPAR Health wholesale arm (supplying independents as well as the growing Pharmacy at SPAR format) saw growth of +13.2%. For more on those numbers and what they mean, read our one-page summary here. 

In other SPAR news, following the opening of its first SPAR Gourmet store, SPAR has announced that it expects to open three to four Gourmet stores in 2026 in Cape Town and Jozi, with plans to grow the format to 70-100 stores over the medium term. This is to be achieved both through existing store upgrades and new builds.

So Black Friday – was it a boom, or was it a bust? What did shoppers buy, and which retailers came out on top? According to our shopper surveys, which Ti conducted in a collab with consumer research platform Chirp before and after the event, BF inspired fair anticipation, yet in some ways fell short of the expectations it created, with 60% of shoppers showing enthusiasm going in, but only 36% experiencing real delight coming out. You can read more about our findings here. The story from SA’s major banks, on the other hand, is that online shopping was the hero. Capitec enjoyed a big jump in online spending this Black Friday at +43% growth versus last year (to R1.6bn), with the peeps at Shein smiling all the way home as Capitecians spent three times more this year than last year with the ultra-fast, ultra-cheap fashion retailer. Standard Bank, meanwhile, saw online spend grow by +75%, contributing almost a quarter to its BF haul. And what about the retailers? Takealot, which ran BF specials for almost an entire month, said that its top orders were for everyday grocery items and electronics. In terms of in-store purchases, Shoprite was the clear winner, says Capitec, which held the top spot in 2024 and 2025. It was followed by SPAR (bumping Pick n Pay down two notches), Checkers, PnP and Boxer, in that order.

All the cool stuff happens in the Wes-Kaap – and these days more often than not in a Checkers store. Like Checkers’ first Lego shop-in-shop, which has opened in the brand new Checkers Hyper in the brand new Winelands Square Shopping Mall in Paarl. While Lego will no doubt be a destination category for families of budding engineers, builders and creatives, the Hyper also boasts the now obligatory sushi bar, Kauai and Krispy Kreme offerings, and extends Checkers’ Hyper delivery service to the fast-growing Paarl community. The store has also created a noteworthy 234 new jobs. 

Next, following the entrenched and still growing trend whereby retailers secure the exclusive rights to sell high-profile brands, is Clicks, which is bringing the Australian haircare brand, Hairification, to its online and physical shelves. The product was launched Downunder just shy of 18 months ago and has shown remarkable growth, thanks to its promise of providing ‘salon-quality formulas at supermarket prices’. “Both Australia and South Africa share the same challenges – strong sun, heat and humidity – and we built Hairification to perform in those conditions,” says Jordan Mylius, founder of the brand. All good, mate, but the name? Strewth…

And in closing, congratulations to Boxer for working together with SAPS Umsunduzi in KwaXimba (near Cato Ridge, KZN) to upgrade the station’s Victim Friendly Facility (VFF). The facility now provides a safe, comfortable and private space for survivors of gender-based violence and other vulnerable community members to receive assistance with dignity. Some of the items donated by Boxer included hygiene and care products, furniture, air coolers, pillows, sheets, TVs, artwork, paving and window blinds. Watch the video here.

According to investment bank UBS, the race for space by discounters Lidl and Aldi might have reached its peak in the UK, news that will no doubt be very welcome in the boardrooms of Tesco, Asda, Sainsbury’s and the like. Data from UBS’s ‘Evidence Lab’, which uses geospatial analysis, is showing that retail space growth is currently around 1% compared to 2.6% before the pandemic. Looking at the discounters specifically, in Q3 of 2025 their space growth came in at multi-year lows. Are they reaching market saturation or perhaps being more cautious with their physical expansion? Probably a bit of both. 

Across the Channel in Belgium, Carrefour has launched a mobile pop-up format at the Winter Wonders Christmas market in Brussels. Built on two storeys, shoppers can find fresh produce and essential groceries alongside a coffee station on the ground floor, while upstairs is dedicated to a seating area where shoppers can enjoy what they have bought. A glass container has also been placed opposite the store, where new or used toys can be donated for children in need.

Big news from Walmart is that its CEO, Doug McMillon, will be retiring at the end of January 2026 after nearly 12 years at the helm. McMillon’s is a remarkable story of one who started at the bottom – as a teenager looking for a summer job – and worked his way to the top. After completing his tertiary studies, he rejoined Walmart as an assistant manager and over his 40 years at the retailer, he touched almost every aspect of the business – from manager, to VP to CEO of Sam’s Club and finally being appointed as Walmart Inc.’s fifth CEO. He will be succeeded by John Furner, the current CEO of Walmart US.