Shoprite sees biggest loss in almost 20 years on profit warning

Shoprite capitulates to currency devaluation, foreign exchange shortage as margin slumps

Africa’s biggest retail outlet, Shoprite’s shares slumped by 17%, the most since July 1999 after its first-half earnings dropped as much as 26%, extending the January decline to 17%, and the stock is down 34% over the past 12 months, compared with a 10% retreat on the FTSE/JSE Africa Food &

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