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Shoprite is eating its rivals’ lunch
Shoprite shares rise after it reports an almost one-fifth jump in quarterly sales
14 November 2022 - 13:35
UPDATED 14 November 2022 - 23:19
Shoprite is emerging as one of the biggest winners from the cost-of-living crisis, reporting an almost one-fifth jump in quarterly sales as budget-conscious consumers flock to its flagship discount chain of the same name.
Its operational update for the three months to the end of September comes at a time when surging food and energy prices are causing one of the biggest squeezes on SA household finances, prompting some activists, labour leaders and politicians to call on President Cyril Ramaphosa to come up with relief packages...
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