{"id":10743,"date":"2020-08-03T15:53:46","date_gmt":"2020-08-03T15:53:46","guid":{"rendered":"https:\/\/www.funminews.com\/?p=10743"},"modified":"2020-08-03T15:53:46","modified_gmt":"2020-08-03T15:53:46","slug":"not-true-we-are-not-leaving-nigeria-just-mulling-our-exit-shoprite","status":"publish","type":"post","link":"https:\/\/www.funminews.com\/index.php\/2020\/08\/03\/not-true-we-are-not-leaving-nigeria-just-mulling-our-exit-shoprite\/","title":{"rendered":"Not True, We Are Not Leaving Nigeria, Just Mulling Our Exit – Shoprite"},"content":{"rendered":"\n

ShopRite Nigeria has debunked the story making the rounds that it intends to close shop in Nigeria.<\/p>\n\n\n\n

The Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard, said: \u201cShoprite is not leaving Nigeria.<\/p>\n\n\n\n

\u201cWe have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30billion investment and close shop? It doesn\u2019t sound right.<\/p>\n\n\n\n

\u201cWe only gave this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.<\/p>\n\n\n\n

\u201cI have tried to say this to many people as I can. There should be no panic at all and all of that. There is no truth in that report.\u201d<\/p>\n\n\n\n

Recall that reports have been circulating that the retail outlet has started a formal process to consider the potential sale of all or a majority of stake in its supermarkets in Nigeria.<\/p>\n\n\n\n

The report said the retailer had struggled in the Nigeria market after some South African owned retailer shops exited the Nigeria market.<\/p>\n\n\n\n

\"Shoprite<\/figure>\n\n\n\n

The report further stated that Shoprite results for the year do not reflect any of their operations in Nigeria as it will be classified as a discontinued operation.<\/p>\n\n\n\n

The report also said international markets excluding Nigeria contributed 11.6 per cent to the group sales and reported 1.4 per cent decline in sales from 2018.<\/p>\n\n\n\n

South African operations contributed 78 per cent of the overall sales and saw 8.7 per cent rise for the years.<\/p>\n\n\n\n

The report went further to say that as a result of the lockdown, customers\u2019 visits declined 7.4 per cent but the average basket spends increased by 18.4 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"

ShopRite Nigeria has debunked the story making the rounds that it intends to close shop in Nigeria. The Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard, said: \u201cShoprite is not leaving Nigeria. \u201cWe have only just opened to Nigerian investors which we have also been talking to just before now. […]<\/p>\n","protected":false},"author":2,"featured_media":10744,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[],"class_list":["post-10743","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-naija-news"],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/www.funminews.com\/wp-content\/uploads\/2020\/08\/Shortite-Store.jpg?fit=1024%2C579&ssl=1","jetpack_likes_enabled":true,"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/10743","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/comments?post=10743"}],"version-history":[{"count":0,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/posts\/10743\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media\/10744"}],"wp:attachment":[{"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/media?parent=10743"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/categories?post=10743"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.funminews.com\/index.php\/wp-json\/wp\/v2\/tags?post=10743"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}