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Shoprite Full-Year Profit Misses Estimates as Costs Climb
date:Aug 20, 2014
ained.

Shoprite shares fell as much as 7.6 per cent, the biggest intraday slide since March 2012, and traded 7 per cent lower at 143.29 rand as of 10:06 a.m. in Johannesburg. The stock has fallen 13 percent this year, compared with a 6.6 per cent decline on the FTSE/JSE Africa Food Drug Retailers Index.

Heavy Investment

South African retailers are struggling as high unemployment and rising inflation forces shoppers to cut down on major purchases. Retail sales were unchanged in June, with inf

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