Retail: Pick n Pay to outearn inflation
2009-06-22 · Research and Statistics
Pick n Pay expected full-year revenue growth to be higher than the country's inflation rate this year, the food retailer said last week. "We expect sales will rise about 5 percent to 6 percent in 2009," said Gareth Ackerman, the chairman of Pick n Pay Holdings. Consumer prices increased an annual 8.4 percent in April, compared with 8.5 percent the previous month. Retail sales fell for a third month in April, dropping 6.7 percent from a revised 4.9 percent in March, as consumers cut spending.
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