After slipping behind its competitors, Pick n Pay’s recent good results of a 13.6% rise in first-half profit, with sales gaining 6.2% to R30.1bn, shows that the company, through aggressive cost cutting and supply chain streamlining has recovered and is set to continue to be one of the leading brands in the retail space. With stalwart Raymond Ackerman stepping in to express his concern and determination to restore the company’s reputation, the growth of stores both in South Africa and across its borders remains strong with 44 stores opened across all formats during the reported period – resulting in more stores being launched over a six-month period than at any other time in the past decade. Although the group closed 9 underperforming stores, it expects to open 60 stores in the next six months.

Reference: The Franchise Association of South Africa – www.fasa.co.za.