Publications
Partners
PEP and Ackermans owner Pepkor said on Thursday after a mishap with a summer range, it had a stronger second half, carving out some market share gains and seeing an uptick in sales on credit.
Group revenue for the year ended September increased by 7.7% to R87.4 billion, it said in a trading update, with retail selling price inflation in PEP, Ackermans and Speciality - which includes shoe brands such as Tekkie Town - of 7.3%.
PEP achieved "very pleasing" results with like-for-like sales growth of 9%, it said, with market share gains in babies, adult and home products. PEP's credit sales mix increased to 4% of total sales, from 0% historically, and at a group level, credit sales picked up to 10% from 8%. Trading in Ackermans showed a marked improvement, it said, with like-for-like sales declining by just over 1% compared to a decline of 8% at its half-year.
