Where did it go wrong with Pick n Pay?
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GUEST - The Finance Ghost – Retail Analyst
When Raymond Ackerman listed his seven Pick n Pay (PnP) supermarkets in 1968 at 4c/share, it was the birth of a food retail champion. For 40 years, PnP continued to charm the market, keeping shareholders smiling all the way to the bank. In its year to February 2009, it reported a headline profit of R989m, earning for its shareholders a phenomenal 132,7% return on equity (RoE)
When Raymond Ackerman listed his seven Pick n Pay (PnP) supermarkets in 1968 at 4c/share, it was the birth of a food retail champion. For 40 years, PnP continued to charm the market, keeping shareholders smiling all the way to the bank. In its year to February 2009, it reported a headline profit of R989m, earning for its shareholders a phenomenal 132,7% return on equity (RoE)