Pick n Pay warning

[BusinessTech]

Pick n Pay warning

Pick n Pay is in deep trouble. It is closing stores and is technically insolvent, and a top analyst warns that the pain may continue.

 

[KleinBoontjie]

I might be wrong, but I think their kak started in 2022 when they started to change their stores to "Premium" shops in a bid to compete with Woolies etc. Now they realize the cheaper stores, like Boxers, is making the money.

Analysts then multiply Boxer’s profit by a price-to-earning (P/E) ratio of fifteen to twenty, which gives a big number.

Is this people just making up the math here? This is just going over my head.

 

[Hemi300c]

PnP stores are IMO:-
Mostly dirty
Staff are ignorant and rude
Fish/Chicken areas stink
Stores need a urgent upgrade to become "new"


Pricing and product availability isn't bad though

 

[KleinBoontjie]

Edit: So 2022 they introduced the Qualisave stores and now they're reverting.

https://businesstech.co.za/news/bus...t-for-its-premium-revamp-across-south-africa/

 

[now05ster]

Edit: So 2022 they introduced the Qualisave stores and now they're reverting.

https://businesstech.co.za/news/bus...t-for-its-premium-revamp-across-south-africa/

Yeah, seems like it.

Anyway, waiting for Checkers to be added to the Vitality Healthy food catalogue then I can ditch them proper.

 

[SlowInternet]

Our local Pnp in Heidelberg got an upgrade but it's a mess now. About every week they move stuff around so products are in different aisles everytime. Their prices have increased by a lot since end of last year.

I would rather shop at Checkers now than Pnp.

 

[My_King]

The ackerman family truly know how to run a business.

 

[rvZA]

To see if a company is doing well and you can keep yourself invested in them, you always have to use them. Earlier this year, when ordering online from them on 3 occasions and not getting all the goods I ordered delivered on all 3 occasions, and had to request refunds, I already saw a company in trouble and sold off all my PnP shares. I am glad I did.

 

[Pegging]

So down from three to just one open till on month end saturday mornings?

 

[The Darkness]

PnP stores are IMO:-
Mostly dirty
Staff are ignorant and rude
Fish/Chicken areas stink
Stores need a urgent upgrade to become "new"


Pricing and product availability isn't bad though

Checkers is cheaper. Retail at this level is a race to the bottom. PicknPay can smell like a pigsty, if the prices compete people will go there.

 

[KleinBoontjie]

Our local Pnp in Heidelberg got an upgrade but it's a mess now. About every week they move stuff around so products are in different aisles everytime. Their prices have increased by a lot since end of last year.

I would rather shop at Checkers now than Pnp.

And they like moving aisles.

 

[Pegging]

And they like moving aisles.

That is a good thing.

 

[RedViking]

I might be wrong, but I think their kak started in 2022 when they started to change their stores to "Premium" shops in a bid to compete with Woolies etc. Now they realize the cheaper stores, like Boxers, is making the money.


Is this people just making up the math here? This is just going over my head.

The problem is they wanted a "premium" looking shop but still run it like a tuckshop.

 

[RedViking]

And they like moving aisles.

They like having their tills in the aisles. Their layout makes zero sense. Their logistics is a mess as they dont use storage anymore and always have stock shortages.