Pick N Pay Stores Ltd (STU:PIK)
€ 1.52 0.01 (0.66%) Market Cap: 1.16 Bil Enterprise Value: 2.26 Bil PE Ratio: 0 PB Ratio: 6.74 GF Score: 68/100

Full Year 2023 Pick N Pay Stores Ltd Earnings Call Transcript

May 04, 2023 / 07:00AM GMT
Release Date Price: €1.64 (-1.54%)
Gareth Mark Ackerman
Pick n Pay Stores Limited - Non-Executive Chairman

Good morning, everybody, and welcome to our year-end results. It has been an extraordinary challenging time. Blackouts have placed the economy under enormous pressure. South Africa is simply not growing at the required rates to ensure improvements in employment and living standards for all South Africans. We need to grow the size of the cake before we try to cut it differently. The energy crisis is particularly challenging for food retailers because we rely on electricity to keep food chilled and safe. Burning diesel generators adds massively to our costs. Pick n Pay has had a resilient performance in this challenging environment. I am grateful to Pieter and his team. They can be proud of what they have achieved. We have made excellent progress on our Eco Savings Strategic plan. We are pleased with the results that have converted stores, and the store conversions are achieving great results for us.

Our clothing division omnichannel value-added services and Boxer are once again our standout performance. We are at a

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