Pick n Pay's Integrated Annual Report
Jun 13th 2011, 14:55
The year under review has seen some of the toughest trading conditions in our Group’s history, yielding ﬁnancial results that can at best be described as disappointing. Our reporting year was characterised by depressed consumer spending, costs rising ahead of internal sales inﬂation and problematic industrial relations.
This has occurred against the background of an economy that has been sluggish in recovering from the global recession and a retail environment that has become increasingly competitive. The Group’s turnover growth has been modest as customer spending has remained cautious. However, in the face of this, we still generated R1.4 billion in trading proﬁt, not an inconsiderable result.
It was always inevitable that the signiﬁcant investment we have made in the future of the business would impact on our bottom line. I am, however, in no doubt that this critical expenditure will greatly strengthen the foundations on which our business has been developed
for the past 43 years.
Leading South African supermarket retailer Pick n Pay, together with double Grammy award winners, Ladysmith Black Mambazo, have recently released a unique and proudly South African twist to the popular Christmas song, Little Drummer Boy made famous by Boney M.
The March edition of Pick ‘n Pay’s popular Fresh Living magazine and its Afrikaans counterpart, Kook en Kuier, will be the first time the increased print run of half a million will be on shelves.
A new partnership between the Gauteng Department of Economic Development (GDED) and Pick n Pay comes alive as the first ever spaza-to-store conversion, Monageng Market, opens in Diepkloof, Soweto this week.
Pick n Pay was, for the third time this year, the proud presenting sponsor of the Stellenbosch Wine Festival. The annual festival, which started as far back as 1974, is the oldest of its kind in the country, and if the record attendance figures of the 2016 festival are anything to go by, it’s going to be around for many more years to come.
Violence can impact availability of retail stock in SA, says industry body
12/09/2019 - 14:06
The Consumer Goods Council of South Africa (CGCSA) is concerned that the violent protests in the country could lead to a significant impact on stock available for retailers.
UK retailers bristle at demand of no-deal Brexit
10/09/2019 - 14:52
A British demand for supermarkets to prepare for a potentially chaotic no-deal Brexit by stockpiling food is stoking anger in the industry, with bosses saying they should not be blamed if people can't find everything they want on the shelves.
Consumers drink while retailers keep the tills active and lights on
10/09/2019 - 11:19
One in five South Africans is unemployed and economic growth remains anaemic, but retailers manage to grow, demonstrating that they still have some defensive qualities.
Pick n Pay Smart Shoppers can now spend their points on fuel at participating BP service stations
05/09/2019 - 12:53
Pick n Pay Smart Shoppers can now spend their points on fuel at participating BP service stations across the country.
Cashbuild flags tough environment amid rationalisation strategy
03/09/2019 - 12:51
Building materials retailer Cashbuild weathered a tough trading environment to deliver 3% growth in operating profit for the year to end-June, boosted by an extra trading week and the addition of 11 new stores.