Delivering his final financial results presentation after 8 years at the helm, outgoing Pick n Pay chief executive Richard Brasher said that the group was planning in a measured way to explore the opportunities in Africa. Despite the lost sales, Pick n Pay recorded a 10 percent sales growth in core food and groceries in South Africa. The group said it had 1 994 stores after opening 112 new stores across all Pick n Pay and Boxer formats. “Looking at the results; the surprise came from clothing, especially when considering that Pick n Pay is a relatively new player in the sector and yet, managed to outperform the market,” Chokossa said. Pick n Pay shares rose 0.78 percent on the JSE yesterday to close at R54.40.

Source: The North Africa Journal April 22, 2021 05:03 UTC