Ackerman Praises Summers

’Extraordinary leadership’ cited as PnP turnaround accelerates.

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Outgoing chair of Pick n Pay, and son of its late founder Raymond Ackerman, Gareth, has paid tribute to what he described as "the extraordinary leadership of Sean Summers and his team" as key in the retailer regaining its momentum.

"Sean brings a deep understanding of Pick n Pay and an unwavering commitment to its renewed success. His clarity, speed, and belief in what's possible are key to getting us back on track," said Ackerman at his final AGM as chair.

Earlier, the group reported that like-for-like sales growth at its corporate supermarkets (and hypermarkets) accelerated in the March to June period (17 weeks).

This, it said, is the "key turnaround indicator" as it removes the negative effects of store closures and conversions, as well as the trading performance of the franchise store segment, which has lagged its company-owned supermarkets.

Overall, Pick n Pay SA like-for-like sales for the period (17 weeks) grew 3.6%. It said the "implementation of the store estate reset plan", under which 114 stores will be affected, "resulted in turnover growth lagging like-for-like sales momentum as a consequence of the planned store closures and conversions".