Shoprite confirms Exit from Kenya in otherwise impressive FY 2020 results

Shoprite has confirmed it will close its two remaining stores in Kenya, in an otherwise impressive set of annual results that have seen group sales increase by 6.4% to R156.9bn ($9.32bn) in the 52 weeks to 28th June 2020. There is a marked difference between sales growth in its South African supermarkets (+8.7%) compared to its non-SA supermarkets (-1.4% in rand terms). In constant currency terms, non-SA supermarkets have seen sales rise by 6.6%. [...]
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