Retail giant Pick n Pay’s Boxer stores recorded an impressive 27.2% growth in turnover, rising to R15-billion in the six months to August, showed the group’s six months results presentation on Tuesday.
It was the first time the company segmented the sales growth achieved by Boxer and by Pick n Pay, respectively in South Africa.
In a statement, the group said it was pleased with Boxer’s performance in the period under review. “This underlines Boxer’s position as a consumer champion among lower-income customers in search of unbeatable value and service,” it said.
“The group is on track to double Boxer sales over the four years of its Ekuseni plan. Pick n Pay South Africa [Pick n Pay and QualiSave banners] grew sales 5.4% to R34.5-billion. This was a respectable performance in a tough market.”
Group turnover was up 11.5% year on year. It said its online sales grew 82%, primarily through Pick n Pay asap!.
“Future growth is set to accelerate further following the launch this month of the new Pick n Pay grocery offer on the Mr D app, with full national coverage to be achieved by end of the year,” it said.
Pick n Pay Clothing saw a 14.8% sales growth after opening 28 new stand-alone stores while group liquor sales grew 36.2%. The liquor arm opened 17 new liquor stores in the period, taking the total to 646 stores.
The group said its operations on other parts of the continent brought in R2.4-billion in sales, an increase of 17.9%,
Pick n Pay CEO Pieter Boone said he is pleased with the progress achieved across Pick n Pay and Boxer over the past six months. “The launch of our Ekuseni strategic plan in May was a landmark moment for the group, I am proud of what our teams have achieved in the five months since that launch,” said Boone.
“We have unveiled a totally new retail banner in Pick n Pay QualiSave, dedicated to customers who want Pick n Pay quality at exceptional prices. We are rejuvenating our Pick n Pay stores at [a fast] pace, and the sales growth and customer feedback in these stores is very encouraging.”
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