Boxer Shares Price Near ZAR 6,865 Breakout After 11.4% Sales Surge on JSE

Boxer Retail Limited (JSE: BOX) listed on the Johannesburg Stock Exchange last November and raised ZAR 8.5 billion ($471 million) in South Africa’s biggest IPO of 2024. The listing priced shares at ZAR 54 and gave the retailer a market cap of ZAR 25 billion.

Since then Boxer hasn’t sat still. The company is rolling out an aggressive expansion plan—targeting 60 to 70 new stores a year over the next 6 to 7 years. The goal is to double its store footprint and deepen its presence in South Africa’s competitive retail space.

Financial Update: Strong Start

Boxer’s first post IPO update has been positive. For the 45 weeks to January 5 2025 the company reported:

• Total Sales Growth: +11.4%

• Like for Like Sales: +6.7%

This was in line with guidance given during the IPO so execution has been disciplined and consumer demand is consistent.

Looking ahead analysts are forecasting 13.4% annual growth and 48.6% return on equity over the next 3 years—impressive even by JSE standards.

Technicals: Breakout Watch at ZAR 6,865

Boxer is trading at ZAR 6,723 just below the critical resistance at ZAR 6,865 which is the 61.8% Fibonacci retracement of the recent high of ZAR 7,397. The chart is forming a symmetrical triangle which is a pattern that often precedes a breakout.

Key Levels:

• Current Price: ZAR 6,723

• Resistance: ZAR 6,865

• Support: ZAR 6,533

• 50 Day EMA: ZAR 6,701

• MACD: Flattening around zero—momentum is neutral but about to shift

Trade Setup: When to Buy

For traders and long term investors watching Boxer share price on the JSE here’s the plan:

• Buy Entry: Above ZAR 6,865 on confirmed breakout with volume

• Stop Loss: Below ZAR 6,533

Don’t chase this market—wait for a breakout. If the price breaks above ZAR 6,865 with conviction it could be the start of the next leg up.

Conclusion

Boxer Retail has made a good start on the JSE with solid numbers, a clear plan and growing interest from investors. The share price is approaching a key level—watch this space if it breaks above ZAR 6,865.