- 25th October 2018
- Posted by: damian.shore
- Category: Lesotho, SagaRetail News, Swaziland, Consumer, Ghana, Retail & Shopping Malls, Botswana, Nigeria, Zambia, Zimbabwe, Namibia
Pick N Pay CEO Richard Brasher sees smaller stores as key to the South African supermarket chain’s international growth strategy.
“There’s a big opportunity in the rest of Africa for things that are smaller, with tighter ranges and more efficient … and if we look further afield, whether its East or West Africa [the retailer has signalled its intention to open stores in Ghana and Nigeria], that is the format opportunity if we were are going to accelerate our expansion,” he said. “It’s a long journey. No one doubts the potential – the question is when,” he added.
Pick N Pay had 1,685 stores at the end of its 2018 financial year, with 144 of these located in six markets outside of its native South Africa (Botswana, Lesotho, Namibia, Swaziland, Zambia and Zimbabwe). The chain’s international same-store sales rose by 0.6% in constant-currency terms during the six months to June 2018.
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