Pick n Pay Annual Report 2010
Apr 29th 2011, 16:10
Turnover for the Pick n Pay Group for the year ended 28 February 2011 increased 5.9% to R51.9 billion while trading profit margin dropped to 2.7% as a direct result of the reduction in gross profit margin and cost inflation exceeding internal sales price inflation. Pick n Pay and Boxer combined increased turnover by 5.9% and Franklins’ turnover dropped by 3.9% in Australian dollars. Turnover growth has been modest, impacted by a national labour strike at Pick n Pay and customers exercising caution despite the dramatic fall in food inflation and many price decreases. Group like for like turnover is up 2.0% for the year.
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.
Customers reward a better, stronger and clearer Pick n Pay
23/10/2013 - 10:54
In an extremely competitive market, customers have responded positively to decisive action by Pick n Pay to improve the shopping trip. In the first six months to 01 September 2013, the company delivered an improved financial performance over the previous period, growing Group till sales (owned and franchise stores) by 8.1%.
Pick n Pay sheds 400 jobs over costs
02/09/2013 - 10:01
Johannesburg - About 400 Pick n Pay employees will be jobless in the coming months after the company retrenched workers to cut costs.
Major revamp for Auas Valley Mall, Namibia
26/08/2013 - 10:17
The Auas Valley Shopping Centre is a retail gem but it remains rather secluded and exclusive. Its owner, Agra Ltd, intends to change that image. Earlier this month Agra announced a significant upgrading and extension of Auas Valley at a groundbreaking ceremony marking the start of the project.
Nedbank, Pick n Pay launch a first for local banking in Namibia
19/08/2013 - 08:56
Windhoek - In a first for Namibia's banking industry a commercial bank has teamed up with a major retailer to enable the bank's clients to withdraw money at the retailer's cashiers as they are doing their grocery shopping.
Pick n Pay embarks on retrenchment drive
08/08/2013 - 09:03
Cape Town - Pick n Pay hopes to trim jobs across the country as it implements a turnaround strategy, BDLive reported on Wednesday.