JOHANNESBURG – Shoprite, one of South Africa’s biggest retailers, says xenophobic violence has had an impact on its profits in the rest of Africa.
In its operational update for the quarter ending in September, Shoprite says it’ll be conducting a performance review.
Sales in the rest of Africa fell by almost 5 percent.
It’ll also be reviewing its return on investment in the rest of Africa.
The company’s South African operations did well despite the depressed economy.
Sales grew 10.3 percent in the period, thanks to its discount division, Usave.
Last week, Shoprite launched its rewards programme, which had one million customers registering in just a few days.
Source
eNCA
5% loss is nothing, I thought Shoprite would be talking about 70% loss.
I think its only because of the fact that most of our countries cannot even make a toothpick let alone 70 percent of the products sold in the shops. considering the drop its huge for them. Its over 700,000,000 million for a drop in a 14 billion dollar turn over company.
Good impact.
I will buy back the chain stores for Zambia.
Africans should unite and boycott all South African products.
That is not an exhaustive reason for a drop.Maybe you have now competition.Wait for China to export their products and you will never talk about that 5%.You want to deceive people that Xenophobia had an impact on your business.
It’s time to boycott all apartheid people and their products
Lets work towards 98% loss thats what SAs deserve at this time.That socalled loss is a drop in an ocean. Let raise the bar.
Disaster!
Reading comments above it is a proof why Zambia is a sh!t hole country. Please have heap of nshima.
Mune, Nshima has no nutritional value; it’s South Africa that’s a sh!t hole country; per excellence!! That’s why one Nigerian Foreign Minister once correctly characterised your country as a European country, in Africa!!! And he was dead right! Nothing has changed in that country. There is no Mandela legacy to talk about because Mandela did not leave any legacy. If he did, black South Africans would not be up in arms against their fellow black Africans! Your Mandela betrayed the Cause of African freedom and Continental Unity. He had become a celebrity that’s why the whole Western world loved him and wanted to shake his hands. And mind you, celebrities are prominent, NOT significant!!So much for now. Zambia is Kaunda’s product and legacy: A people easy to lead BUT difficult to drive…
@Hello Silent Observer,
You summed it up in a very accurate manner. I like your thinking and I am proud of a brother or a sister like you. You said everything as it is. I am proud of Zambians like yourself. Keep it up and bye for now. You do not beg for anything. You a kind of an African who fights until to the bitterest end without making any deals. Thanks a lot.
It is not as if many African countries can boycott Shoprite. Where is the nearest Zambian supermarket? That 5% may have come from one state in Nigeria. If Angola had reacted the percentage would have been higher. Just to remember that in SA, Shoprite is in rural areas and townships. The shopping malls except the likes of Maponya in SOWETO have Checkers.
South Africans suffer from very dangerous levels of inferiority attitude.