{"id":630863,"date":"2022-10-04T08:13:24","date_gmt":"2022-10-04T06:13:24","guid":{"rendered":"https:\/\/businesstech.co.za\/news\/?p=630863"},"modified":"2022-10-04T08:13:24","modified_gmt":"2022-10-04T06:13:24","slug":"pick-n-pay-soars-on-sales-boost-as-it-looks-to-upgraded-supermarkets-for-future-growth","status":"publish","type":"post","link":"https:\/\/businesstech.co.za\/news\/business\/630863\/pick-n-pay-soars-on-sales-boost-as-it-looks-to-upgraded-supermarkets-for-future-growth\/","title":{"rendered":"Pick n Pay soars on sales boost as it looks to upgraded supermarkets for future growth"},"content":{"rendered":"<p>Shares in retailer Pick n Pay surged nearly 7% in trade on Monday after the group said it expects to report strong earnings growth.<\/p>\n<p>The group said in a trading update for the 26 weeks ended 28 August 2022 that it anticipates headline earnings per share to be 20 to 30% higher.<\/p>\n<p>Pick n Pay reported sales growth of 11.5% for the period, with like-for-like sales growth of 7.4%. The base period (H1 FY22) was severely disrupted by the July 2021 civil unrest and the loss of 55 days of liquor trading due to Covid-19 trading restrictions.<\/p>\n<p>Excluding these impacts, the group estimates normalised sales growth for the period of 8.2%, it said.<\/p>\n<p>Internal selling price inflation for the period was 7.2%, reflecting a sharp uptick over July and August, compared to the 5.0% reported for the first 18 weeks of the financial period, it said.<\/p>\n<p>This is further evidenced by the increase in Food CPI, which rose from 8.6% in June to 11.3% in August, according to Statistics SA.<\/p>\n<p>&#8220;We reiterate our ongoing commitment to low-price investment and collaboration with suppliers to limit price increases,&#8221; the retail group said.<\/p>\n<p>Sales growth was primarily driven by a strong performance from Boxer &#8211; the group&#8217;s discount supermarket chain.<\/p>\n<p>The group said that year-on-year sales growth from the Pick n Pay supermarkets upgraded to the new CVPs (customer value propositions) has been &#8220;particularly encouraging&#8221;, but the upgraded stores do not yet constitute a substantial enough proportion of the estate to meaningfully impact the overall performance of the Pick n Pay brand, it said.<\/p>\n<p>&nbsp;<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-630871\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay.png\" alt=\"\" width=\"747\" height=\"278\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay.png 747w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay-300x112.png 300w\" sizes=\"auto, (max-width: 747px) 100vw, 747px\" \/><\/a><\/p>\n<p><strong>Strategic update<\/strong><\/p>\n<p>Pick n Pay said the full year 2023 is an investment year for the group, as the various elements of its Ekuseni strategic plan, announced in May 2022, are set in motion. &#8220;Substantial progress was made in H1 on all elements of the plan, including the launch of the QualiSave banner, which has been very well received by customers.&#8221;<\/p>\n<p><a href=\"https:\/\/businesstech.co.za\/news\/business\/610722\/big-changes-at-pick-n-pay-and-its-already-seeing-results\/\" target=\"_blank\" rel=\"noopener\">In May<\/a>, Pick n Pay <span id=\"page211R_mcid5\" class=\"markedContent\"><span dir=\"ltr\" role=\"presentation\">announced plans to diverge into three main groups, catering to three segments of the market &#8211; discount, convenience, and premium.<br \/>\n<\/span><\/span><\/p>\n<p>The group said that the new Pick n Pay food and grocery offer delivered by Mr D has been successfully launched in a limited number of stores and will now be rolled out rapidly across the country.<\/p>\n<p>&#8220;The group is also making progress in its plan to create a single, modernised head office, and to drive productivity and efficiency gains in its cost base,&#8221; it said.<\/p>\n<p>Pick n Pay&#8217;s results are due to be published on 18 October 2022.<\/p>\n<p><strong>New look stores<\/strong><\/p>\n<p>In September, Pick n Pay opened a boutique-styled store in Station House \u2013 a modern development in the heart of Sea Point.<\/p>\n<p>Customers visiting the Pick n Pay store can expect a modern interior and refreshed product offering as the retailer revamps some of its stores to target discerning customers.<\/p>\n<p>The Station House Pick n Pay is a smaller store with just over 2,800 products. \u201cWhile a smaller Pick n Pay, the carefully considered range will cater to all customer needs be it a Station House resident or hotel guest, a resident in the community and surrounds, or a visitor to the area,\u201d said Jarett Van Vuuren from Pick n Pay.<\/p>\n<p>The range includes fresh fruit and vegetables produce, a good range of quality meat, and delicacies such as charcuterie and speciality cheeses. There will also be freshly baked pies and a wide range of pre-baked bakery goods. Customers can also buy non-perishable grocery items or select from a range of household items or toiletries.<\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1-2MB-scaled.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-630887\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1-2MB-scaled-e1664862762875.jpg\" alt=\"\" width=\"1000\" height=\"666\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1-2MB-scaled-e1664862762875.jpg 1000w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1-2MB-scaled-e1664862762875-300x200.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1-2MB-scaled-e1664862762875-768x511.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1MB-e1664862785291.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-630891\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1MB-e1664862785291.jpg\" alt=\"\" width=\"1000\" height=\"667\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1MB-e1664862785291.jpg 1000w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1MB-e1664862785291-300x200.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/Pick-n-Pay-Station-House-1MB-e1664862785291-768x512.jpg 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><\/p>\n<p><a  data-lightbox=\"post-image\" href=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-630885\" src=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay.jpg\" alt=\"\" width=\"1106\" height=\"369\" srcset=\"https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay.jpg 1106w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay-300x100.jpg 300w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay-1024x342.jpg 1024w, https:\/\/businesstech.co.za\/news\/wp-content\/uploads\/2022\/10\/PicknPay-768x256.jpg 768w\" sizes=\"auto, (max-width: 1106px) 100vw, 1106px\" \/><\/a><\/p>\n<hr \/>\n<p><strong>Read: <a href=\"https:\/\/businesstech.co.za\/news\/trending\/616677\/a-look-at-pick-n-pays-major-new-supermarket-brand-qualisave\/\" target=\"_blank\" rel=\"noopener\">A look at Pick n Pay\u2019s major new supermarket brand: QualiSave<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Shares in retailer Pick n Pay surged nearly 7% in trade on Monday after the group said it expects to report strong earnings growth.<\/p>\n","protected":false},"author":10,"featured_media":484695,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9872],"tags":[26,4067],"class_list":["post-630863","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-headline","tag-pick-n-pay"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/630863","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=630863"}],"version-history":[{"count":3,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/630863\/revisions"}],"predecessor-version":[{"id":630907,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/630863\/revisions\/630907"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/484695"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=630863"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=630863"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=630863"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}