date:Aug 20, 2014
Shoprite Holdings Ltd. full-year profit missed analysts estimates as South Africas largest food retailer invested in new stores amid weak consumer spending in its domestic market. The shares fell the most in two years.
Earnings per share excluding one-time items rose 3.3 per cent to 6.98 rand in the 12 months through June, the Cape Town-based company said today in a statement. That compares with the 7.35 rand mean estimate of 15 analysts surveyed by Bloomberg. Sales gained 11 per cent to 102 bi