Shoprite’s sales drop by 8.1% in Nigeria in H2 2019 over Xenophobic attacks
By
Abiola Odutola
-
April 25, 2020
Shoprite.
The supermarket arm of Shoprite Holdings in Nigeria lost 8.1% of its sales in constant currency terms at the end of the second half (H2) of 2019 due to the September Xenophobic attacks.
This was disclosed in the H2 financial result issued by the company and seen by Nairametrics. In the report, the parent company stated that the impact of the store closures and drop in customer count resulted in a difficult half for the company
What it means: store closures, the subsequent reduction in customer count during and after The drop was as a result of store closures and subsequent reduction in customer count during and after the attacks. This implies that some customers of the supermarkets in Nigeria stopped patronizing the brand, probably due to patriotism on the part of the Nigerians
Source:https://nairametrics.com/2020/04/25...n-nigeria-in-h2-2019-over-xenophobic-attacks/
By
Abiola Odutola
-
April 25, 2020
Shoprite.
The supermarket arm of Shoprite Holdings in Nigeria lost 8.1% of its sales in constant currency terms at the end of the second half (H2) of 2019 due to the September Xenophobic attacks.
This was disclosed in the H2 financial result issued by the company and seen by Nairametrics. In the report, the parent company stated that the impact of the store closures and drop in customer count resulted in a difficult half for the company
What it means: store closures, the subsequent reduction in customer count during and after The drop was as a result of store closures and subsequent reduction in customer count during and after the attacks. This implies that some customers of the supermarkets in Nigeria stopped patronizing the brand, probably due to patriotism on the part of the Nigerians
Source:https://nairametrics.com/2020/04/25...n-nigeria-in-h2-2019-over-xenophobic-attacks/
