Fitter PnP is in many ways pick of the pack
The group delivered its best results of the past five years in terms of volume growth, with overall turnover up 6.4% to R41.2bn
Pick n Pay has had a good week. Its interim results show volume increases not seen in years, at a time when the market is particularly tough. At the beginning of last year CEO Richard Brasher and senior executives recognised that if they kept doing what they were doing in the face of an increasingly tough economic environment, the group would be in a dire situation. So it reduced costs and improved efficiencies, enabling it to drop prices, deliver simpler and more personalised promotions, improve the fresh-food offering and upgrade stores. Brasher, who became CEO in 2013, said the group was stronger, fitter, more competitive and energetic, "and consumers have rewarded us with more turnover and market share". "We are seeing people tightening their belts and seeking greater value. When there are promotions, there's more shopping. People shop around so we have to be very good so they come back. People now tend to shop more often and their collective basket is bigger over a period of ti...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.