SA retailer Pick n Pay reports 21.4% decline in annual earnings weighed down trade restrictions

SOUTH AFRICA – South African retail chain, Pick n Pay reported an increase in group turnover by 4.3% to R93.1 billion (US$6.5 billion) for the full year ended February 2021, compared to R89.3 billion (US$6.2 billion) attained in the previous corresponding period. The gains were however offset by trading restrictions on non-essential goods and services for parts of the year, which resulted in an estimated R4 billion (US$279.5 million) in lost sales, and R200 million (US$13.9 million) in additional costs related to the group’s operational response to the Covid-19 pandemic.…

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Pick n Pay CEO Richard Brasher to retire in April, his shoes to be filled by former Metro AG COO

SOUTH AFRICA – South Africa’s supermarket chain Pick n Pay has announced the retirement of Richard Brasher, as its Chief Executive officer with effect from April 21 after eight years at the helm. Basher will be succeeded by Netherlands-born Pieter Boone, former Chief Operating Officer of German retailer Metro AG. According to reports by Business Day, Brasher had initially intended to depart in 2020, but delayed the move to help guide the retail business through the COVID-19 pandemic and find a suitable replacement. During his tenure as indicated by company…

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Pick n Pay steps in to rescue South Africa’s wine industry currently on its knees

SOUTH AFRICA – South African retailer Pick n Pay has announced its commitment to purchasing 25 million bottles of wine in 2021 to support the local wine industry. This comes after the industry body Vinpro reported that the local wine industry has lost more than R7 billion (US$480m) in revenue following the ban on alcohol sales. The industry faces an unprecedented cash shortage and stock surpluses, as over 300 million litres of unsold wine languishes in warehouses and cellars. This is almost a year’s worth of wine sales. “There were…

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Pick n Pay strengthens grocery delivery acquiring Bottles as it eyes Nigerian market

SOUTH AFRICA – South Africa’s supermarket chain Pick n Pay has concluded an agreement to buy on-demand online delivery app Bottles to strengthen its e-commerce operations. Bottles, which has recently branched out into on-demand grocery essentials delivery, was launched in 2016 as South Africa’s first on-demand alcohol delivery app and partnered with Pick n Pay in 2018. The repurposing of it services happened earlier this year in March after a prohibition on alcohol sales was introduced in the country to combat the spread of Covid-19. “We are delighted to be…

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Pick n Pay expects half year profit to plunge 60% despite growth in core retail sales

SOUTH AFRICA – Pick n Pay, supermarket chain store in South Africa has warned that its half year earning will drop by as much as 60% due to business restrictions and high costs of operating triggered by the COVID-19 pandemic. The company expects that headline earnings per share, the main profit measure that strips out certain one-off, nontrading items, could fall in a range of 50%-60% to between 34.01c and 42.51c in the 26 weeks to the end of August. Pick n Pay’s first-half performance which began on 2 March…

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Pick n Pay upgrades online shopping platform with scheduled grocery delivery service

SOUTH AFRICA – South African retail chain, Pick n Pay has launched an online scheduled grocery delivery service that enables customers to set up an automatic, weekly or monthly, delivery of items that are purchased regularly. Aimed at removing the hassle of manually placing regular online orders for essentials, this new online shopping feature, called Grocery Genius, offers customers an easy and more convenient way to re-stock products – from the week’s groceries to monthly pantry and household items. This new service is expected to further change the landscape of…

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Zimbabwe’s Pick n Pay operator Meikles Supermarkets reports decline in sales volume

ZIMBABWE – Meikles Limited, operators of TM Pick n Pay retail outlets in Zimbabwe saw sales volumes retreat by 28% and 24% for the third quarter and nine months ended December 2019, respectively, as disposable incomes continue to decline. Since reintroduction, the Zimbabwean dollar has continued to devalue as the country lacks adequate foreign currency and market confidence, resulting in wage erosion. “The stores are reasonably stocked despite challenges in supply chain arising from shortages of foreign currency,” said Meikles Limited company secretary Thabani Mpofu, in a trading update. “Trading…

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South African retail giants sign the first plastics pact in Africa

SOUTH AFRICA – The South African (SA) Plastic Pact, a collaborative platform aimed to tackle plastic waste and pollution has been launched developed by the World Wide Fund for Nature (WWF-SA) in partnership with the South African Plastics Recycling Organisation (SAPRO) and the UK’s WRAP. The SA Plastics Pact will be managed and delivered by GreenCape, with the founding members committed to a series of ambitious targets for 2025 to prevent plastics from becoming waste or pollution. GreenCape is recognised as a trusted centre of expertise for the green economy…

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Pick n Pay joins global food waste initiative calling upon its suppliers to join the movement

SOUTH AFRICA – Pick n Pay has joined the global food waste initiative and asked 20 of its biggest suppliers to join the movement. The project is backed by 10 of the world’s largest food retailers and manufacturers, and will focus on in-store and supply chain food loss and waste. The founding partners include familiar names such as Carrefour, Tesco, Walmart and Ahold. Pick n Pay and the other signatories have committed to supporting their upstream suppliers to reduce their own loss and waste. The first phase of the initiative…

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Kauai extends its healthy food brand into retail partnering with Pick n Pay

SOUTH AFRICA – Kauai, a health food restaurant, has extended its brand into retail with the launch of range of healthy frozen ready-to-eat meals, sides and smoothies in partnership with Pick n Pay. The Pick n Pay powered by Kauai frozen product range was propelled by shocking statistics that revealed that South Africa has been named one of the unhealthiest countries in the world with claims that healthy eating is often seen as expensive or complicated. Dean Kowarski, Chief Executive of Real Foods, the holding company of Kauai said, “There…

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