JOURNAL ARTICLE

South Africa Has Too Many Retail Stores, Pick n Pay CEO Says.

  • Published In: Bloomberg.com, 2025. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Kew, Janice 3 of 3

Abstract

The article discusses concerns raised by Pick n Pay Stores Ltd. CEO Sean Summers regarding the rapid expansion of retail stores in South Africa, which he believes may jeopardize financial viability. In the previous year, the top five retailers opened over 700 stores, with 230 more established this year, leading to a potential oversaturation of retail space. Despite the economic growth forecast being lowered to an average of 1.6%, Pick n Pay is focusing on the lower-income market and closing unprofitable outlets, while competitors like Pepkor Holdings Ltd. plan to open up to 300 new stores, emphasizing a strategy of following customer trends in smaller shopping centers. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2025/05, pN.PAG
  • Document Type:Article
  • Subject Area:History
  • Publication Date:2025
  • Accession Number:185482103
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