Tag: Pieter Engelbrecht
Shoprite's share price traded slightly weaker as it said sales growth for the first six weeks of the second half of the 2020 financial year are in line with the growth reported for this interim period to December 2019 and believes measures taken in its non-South Africa stores will help future profitability. The retailer which also increased market share and stores said it is entering into a joint venture with Equites Property Fund. Shoprite CEO, Pieter Engelbrecht joins CNBC Africa for more.
One of Africa's biggest retailers is reporting a trying year for their core operations. Shoprite's South African division grew second half sales by 7.4 per cent. Profitability in the rest of Africa also remains a challenge. Basic headline earnings per share fell 19.6 per cent to some 780.8 cents. Joining CNBC Africa for more is Pieter Engelbrecht, CEO, Shoprite Group.
Shoprite’s Pieter Engelbrecht on why this is the right time to enter Kenyan market
CAPE TOWN (Reuters) - Africa's biggest grocery retailer Shoprite is considering a push into Eastern Europe, where it hopes to use knowledge gleaned from former suitor Steinhoff International, its new CEO told...