20 August 2019 - 10:34Shoprite CEO Pieter Engelbrecht PICTURE: HETTY ZANTMAN
While sales from domestic supermarkets rebounded in the second half, the international supermarkets division made a full-year trading loss of R265m. Separately, Shoprite said in a statement that"persistently challenging trading conditions in the year ahead are likely to hamper our ability to return to profitability" in the rest of Africa.
"Performance of the furniture and other segments also deteriorated more significantly than we expected," Goldman Sachs said in a research note.
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