Happy 50th birthday, Pick n Pay (congrats on growing your bottom line by 18%)!

Pick n Pay reported an 18 percent rise in full-year earnings on Wednesday.

Despite this its shares fell by as much as six percent

This year marks the 50th anniversary for the retailer that started out when Raymond Ackerman bought three tiny stores from Click founder Jack Goldin.

The Money Show’s Bruce Whitfield interviewed Pick n Pay CEO Richard Brasher.

Listen to the interview in the audio below (and/or scroll down for more quotes from it).

Things are changing faster than at any time I can remember.

Richard Brasher, Pick n Pay

I spent most of my time worrying about things I can influence. The downgrade isn’t one of them.

Richard Brasher, Pick n Pay

Good rains resulted in better crops… we can chase some of the prices down.

Richard Brasher, Pick n Pay

I’ve spent the last four years under the bonnet rather than driving the car.

Richard Brasher, Pick n Pay

Raymond still signs the guarantee on every product.

Richard Brasher, Pick n Pay

You used to spend a rand and get a point. Now you spend two rands and get a point.

Richard Brasher, Pick n Pay

We now give coupons on things you really want.

Richard Brasher, Pick n Pay

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Article brought to us by Old Mutual.


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