Shoprite will consider pulling the plug on underperforming stores in the rest of Africa, two months after a weak showing in these supermarkets tipped the grocer into a hefty 20% drop in annual profit.
"If we have to close a country we will; we’ll take the decision no matter how hard it is," CEO Pieter Engelbrecht told shareholders at an annual meeting on Monday.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
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