Shoprite reviews Africa operations after poor performance
Currency devaluations and a need to close stores in Nigeria due to a backlash against xenophobic violence in SA weighed on the group’s results
04 November 2019 - 10:05
The country’s largest grocer, Shoprite, said on Monday it was “reviewing the return” on its capital invested in the rest of Africa after a continued dismal performance outside SA’s borders.
It said on Monday xenophobic violence weighed on turnover in its first quarter to end-September, with management conducting a performance review after non-SA sales declined 4.9%...
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