PEP owner says it's gaining customers of all ages as struggling SA hunts for value

PEP and Ackermans owner Pepkor has reported market share gains in product ranges aimed at babies through to adults as cash-strapped consumers increasingly search for value in a struggling economy.

The retailer, SA's largest by store footprint, said in an update on Tuesday that its revenue rose 7.2% to R26 billion in its quarter to end-December when sales on a like-for-like basis rose just over 4%. During the quarter, the group added 92 new stores, ending the calendar year with 5 977.

Pepkor added it could pass on price increases of 6.5% in its PEP, Ackermans and Speciality segment, which includes such brands as Refinery. It gained market share in the quarter, its first, as well as on a rolling 12-month basis.