Shoprite Leaves Nigeria After 15 Years

We're Not Leaving Nigeria – Shoprite Debunks Exit Rumour

Shoprite Leaves Nigeria After 15 Years

Africa’s biggest grocery retailer, Shoprite, is leaving Nigeria after years of operation.

The Cape Town-based retailer has started a formal process to consider the potential sale of all or a majority stake in its supermarkets in Nigeria, it said in a trading statement for the 52 weeks to end June released on Monday.

In the statement, Shoprite said the results for the year do not reflect any of their operations is Nigeria as it will be classified as discontinued operation.

International supermarkets (excluding Nigeria) contributed 11.6% to group sales, and reported 1.4% decline in sales from 2018. South African operations contributed 78% of overall sales and saw 8.7% rise for the year.

As a result of lockdown, customer visits declined 7.4% but the average basket spend increased by 18.4%.

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Local Supermarkets Will Grow If Shoprite Leaves Nigeria - Shehu Sani - Cliq NG
5 months ago

[…] Nigeria, earlier today, reported that Shoprite are considering leaving the country after 15 years of […]

"We're Not Leaving Nigeria" – ShopRite Debunks Exit Rumour - Cliq NG
5 months ago

[…] Shoprite Leaves Nigeria After 15 Years […]

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