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# AVI and Bidcorp both say shoppers are under pressure, and Bidcorp warns food prices are next
- URL: https://www.businessbagel.com/avi-bidcorp-shoppers-under-pressure-food-inflation/
- Published: 2026-11-12T08:00:00.000Z
- Updated: 2026-11-12T08:00:00.000Z
- Description: Two big food names updated investors on the same day: AVI's local sales stood still, while Bidcorp warned food inflation is about to return.
- Author: Christian Maidman
- Tags: Companies, Business Bagel News

Two big names in food gave investors an update on the same day this week, and between them they describe a shopper who is still being very careful with money. AVI, the group behind I&J, Spitz and Entyce, said its domestic trading environment has remained challenging. Bidcorp, the food service multinational that does about 95% of its business outside South Africa, said trading conditions tightened across its markets as the period went on.

## AVI: standing still at home

AVI's revenue for the four months to October was in line with the same period last year, as growth in some categories was offset by weaker performance in others. Entyce had to cut creamer prices to keep up with competitors, which lifted sales volumes but lowered revenue. I&J's revenue rose, partly because of price increases to offset higher fuel costs and partly from stronger export volumes. Its fashion brands are still trading in a constrained consumer environment, with retailers and personal-care competitors discounting deeply.

AVI also took a once-off R90.1 million charge for wage restructuring at Entyce and Snackworks, which chair Mike Watters expects to pay for itself in under 18 months. Excluding that, operating profit improved, although on a reported basis it dipped marginally against a strong prior year. One bright spot: Spitz lay-bys are 7% higher than last year heading into the December festive season.

## Bidcorp: growing, but warning about prices

Bidcorp's trading profit rose 8.2% in constant currency, which strips out exchange-rate moves, but only 1.6% in rand terms, once its overseas earnings were converted back into rand. Currency movements also cut 7.7% from revenue, which fell 4.3% in rand. Customers across its markets remain selective as they adapt to prolonged and now heightened cost-of-living pressures, and the cost of doing business rose to 19.1% of revenue from 18.5%. South Africa was a relative bright spot, keeping its momentum through market-share gains and customer growth.

The bigger warning is what comes next. Bidcorp says indicators point to food inflation, which has been largely absent so far, starting to show up in food prices within the next few months. For a shopper AVI already describes as constrained, that's not great timing.