PNP NEWS ON FASTMOVING

Large-scale retrenchments at Pick n Pay have raised questions about the company’s leadership, but analysts say its problems are not entirely the fault of those at the helm. read more

8 July 2011 - Nyon, Switzerland: UNI Global Union said today that the announcement from South African supermarket chain Pick n Pay that it plans to cut about 3137 jobs from its workforce is a clear sign of the “Walmart effect” it believes the world’s biggest retailer will have on South Africa as it prepares to enter the country.  read more

[Cape Town, 06 July 2011] Pick n Pay announced today that it had communicated with SACCAWU in terms of Section 189A and 189 (3) of the Labour Relations Act, that due to operational requirements, it was contemplating the retrenchment of approximately 3137 workers at the company within the non-management bargaining unit (NMBU). read more

The intention by Pick n Pay to retrench more than 3,000 employees has underlined the seriousness of the situation that the group has found itself in as it tries to play catch-up to rivals after a series of errors made by the group over the past few years, according to an analyst. read more

CAPE TOWN - Since Pick n Pay founder Raymond Ackerman retired last March, Pick n Pay management has repeatedly stated the need for a relationship with its trade union that goes two ways. It wants more concessions from Saccawu and more productivity from labour. read more

[Cape Town, 23 June 2011] Pick n Pay today announced the opening of its first Mozambican store in Maputo which will extend its African footprint still further. The company would open a further two stores later this year and was actively seeking further opportunities across the country. read more

There was no substance to reports that British retail giant Tesco was talking to Pick n Pay about a possible transaction, Pick n Pay chairman Gareth Ackerman told Business Report on Friday. read more

The introduction of its smart card was believed to have helped Pick n Pay achieve “some improvement” in trading during the first three months to the end of May, chief executive Nick Badminton said at the retailer’s annual general meeting (AGM) on Friday. read more

(Cape Town, 12 May 2011) Pick n Pay today confirmed the retirement of Merchandise Director Kevin Korb, after 30 years at the company. He will leave Pick n Pay at the end of June. read more

5one, one of the world’s leaders in customer centric business transformation and the architects of Pick n Pay’s recently launched Smart Shopper rewards programme, has brought its cutting edge services and know-how to bear in launching South Africa’s first major grocery chain loyalty scheme.  read more

Johannesburg - South Africa's second-biggest grocer retailer Pick n Pay's profit guidance missed forecasts on Thursday, stung by higher costs and industrial action, sending its shares tumbling nearly 5%. read more

Pick n Pay said today that in advance of releasing its 28 February year end results, due to be published on 18 April, it would share with the market that HEPS and diluted HEPS from continuing operations would be between 10% and 25% below the previous year. HEPS from continuing operations is the measure used by the company for an accurate reading of performance. read more

Johannesburg - Retailer Pick n Pay Stores [JSE:PIK] announced on Friday that it has listed a domestic medium-term note (DMTN) programme on the JSE, under which it has successfully raised an initial R500m. read more

The head of the supermarket group explains why few businesses are willing to speak out against government, writes Chris Barron. read more