PEP owner paints grim picture of SA environment, flags increase in robberies

Despite these challenges, the PEP and Ackermans owner still managed to grow revenue 7.7% to R87.4 billion for the year to end September 2023  and gain market share in key categories such as baby, adult and home categories. This was achieved even as it increased selling prices by 7.3% in PEP, Ackermans and Speciality – which includes brands such as footwear chain Tekkie Town.  The company said it sold two out of three babies’ and one out of two children’s apparel items in SA even as competition was increasing with significant promotional activity as a feature of the retail environment.