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Shoprite sees biggest loss in almost 20 years on profit warning

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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 & Drug Retailers Index. Shoprite…

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