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Despite sporadic alcohol sales bans, and the civil unrest in July, Pick n Pay saw a 40% increase in headline profit per share, and doubled its interim dividend.
The grocery retailer said its recovery from the repeated alcohol sales bans since 2020 will be undermined by further bans. Pick n Pay lost R800-million in sales after the government moved the country into a Level 4 lockdown in June 2021, which banned the sale of liquor.
Pick n Pay chairman Gareth Ackerman has questioned government policy and transparency over the decisions it makes in a year that the retailer lost an estimated R4-billion in sales due to restrictions on the sales of alcohol, tobacco and other products. Speaking on the release of the supermarket group’s annual results, Ackerman also criticised the slow roll-out of the Covid-19 vaccine as the risk of a third wave of the pandemic and new virus variants rises. Ackerman said the group had offered to do whatever it could to assist in the efficient distribution of the Covid-19 vaccine when it be...
Will new Pick n Pay CEO Boone prove his worth? SA retailers might be gung-ho about local goods — not so much CEOs. But Pick n Pay reckons it got the right guy BL PREMIUM 21 January 2021 - 05:00 Katharine Child Retailers may be under pressure from the government to buy local, but Pick n Pay has again gone offshore to find its head honcho, Netherlands-born Pieter Boone. Boone takes over from British national Richard Brasher, who had planned to leave after seven years in 2020, before the coronavirus pandemic hit... BL Premium This article is reserved for our subscribers. A sub...
Pick n Pay CEO Richard Brasher's term has been extended until 2022. Pick n Pay's British CEO Richard Brasher is retiring with effect from 21 April, announced chairman Gareth Ackerman on Thursday. Brasher's contract, which was originally supposed to end this year but was extended until a replacement was found or till 2022 to help guide Pick n Pay through the Covid-19 pandemic. Brasher has been at the helm of the retailer for eight years. READ | Ackerman said the company is naturally very sad to be announcing Brasher's departure. "He has led a remarkable turnaround in ...