Shares in Truworths International have hit a nine-year low after the retailer cut the value of its UK business by more than a third as Brexit uncertainties and a shift to online shopping weigh on earnings in that market.

The announcement, late on Thursday, came shortly after high-end retailer Woolworths wrote down the value of one of its offshore businesses. Some other SA retailers, including Famous Brands, have seen their foreign bets sour in recent years. 

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