Retail news. Semester 1 of 2014 table of contents

Chatsworth store completes 1000th opening for PnP

29 Apr 2013

The opening of the new Pick n Pay store on the corner of Tranquil and Joyhurst Streets in Chatsworth marks the 1000th store opening for the group and finalisation of a 30-year old dream of founder Raymond Ackerman.

"Opening our 1000th store is an incredible milestone for the group and one we are delighted to share and celebrate with the people of Chatsworth," said Gareth Ackerman, chairman of Pick n Pay. "This is a personal dream come true for the group's founder, who fought so long for this particular store to become a reality. We are delighted the day has come and we can open our doors to a one-of-a-kind store, created especially for this unique community.

"We've spent months researching exactly what the Chatsworth people wanted from the group and what was missing from the existing retail offering in the area. After careful planning to make sure we get our offering exactly right, we're excited to at last be serving the area and to be giving the community the quality and service the brand stands for," said Ackerman.

According to the GM in KwaZulu-Natal, Anil Gopichund, every bit of the 6000sqm store was especially merchandised with the Chatsworth shopper in mind. "From the fresh Asian vegetables and best spices, to the range of cookware, superior seafood, dedicated vegetarian deli and fresh cut flowers, we have worked tirelessly to ensure a great offering and can't wait to get to know everyone.

Spices supreme

"In terms of range, when it comes to fresh produce, the widest offering of the freshest fruit and vegetables used in traditional Indian cuisine is available at the store. These include favourites such as okra, Asian drumsticks (when in season), calabash, karela, gwaar, luffer, gudra, dubla beans, and many more. Also on the menu are an assortment of fresh chillies, ginger and fresh herbs such as Dhania and green and red herbs.

"However, the true test of Indian cuisine is in the spices and we've got the best in town, if not the country, thanks to our partnership with world-renowned Spice Emporium. On offer in our spice bar, customers will find a heady abundance of herbs and spices including ghatia, boondie, fine and rough sev, special garam masala, achar masala, mother-in-law masala, special Durban masala and many others.

Namibian crab, Indian prawns, vegetarian deli

The fish and seafood department is also bound to impress, where the popular Orange Crab, specially flown in from Namibia, is of high quality and well-priced; large Mozambican prawn tails (with veins and legs removed) and Vannamei prawns, specially sourced from India. The in house brand Seafood Mix offers calamari, prawns, mussels, squid and crab sticks, and the KwaZulu-Natal best-seller, whole hake also makes it onto the list along with hake fillets, roe and yellowtail.

The deli has all the usual great value but in line with its commitment to meet the needs of the community, it has an entirely separate vegetarian deli with its own kitchen. The bakery offers delicious naan and a wide range of egg-free cakes, breads and rolls, as well as other specially baked treats such as cake dough, spicy donuts and daily freshly baked breads and rolls.

The store offers fashion, a liquor store just outside the entrance and the opportunity to win a new Hyundai i10 for a customer who signs up for Smart Shopper points before 12 May.

Pay bills, buy phones

The Smart Zone in-store offers services such as prepaid electricity, money transfers, banking and social grants can also be collected here. Cellphones can be purchased and pit through 'RICA' on the spot, and shoppers can pay their bills, traffic fines, TV license and DStv, all with the assistance of friendly and qualified staff.

"To ensure the entire experience is a pleasurable one, we've provided 800 free underground parking bays, including special-needs bays with lifts that come directly to the store," said Gopichund.

"The essence of the Chatsworth community resonates with the values of the company, one built on caring for the communities that it serves. Without the support of the communities in which we operate we would not exist, which is why 80% of our 220 staff have been employed from the local community. We look forward to embarking on this new journey with our Chatsworth customers, which we hope will be a long and fruitful one," he concludes.

OK records $12,4m after-tax profit

June 14, 2013 in Business, General Business [News Day]

ZIMBABWE Stock Exchange (ZSE)-listed retail group OK Zimbabwe Limited’s after-tax profit for the full year to March was up 20,1% to $12,4 million driven by a significant growth in revenue, the company has announced.

Report by Tarisai Mandizha

Attributable earnings per share according to audited results for the year ending March 31 2013 was up 18% to 1,2 cents as directors proposed a final dividend of 0,40 cents per share.

Revenue rose to $479,6 million from $421 million during the period under review buoyed by promotions and an ongoing branch network expansion.

Sales were expected to increase after the next harmonised elections set for July 31. “The growth in revenue and earnings is acceptable, in a very difficult environment of low inflation at 2,8% per annum with gross domestic product growth of less than 5%,” group chief executive Willard Zireva said. Total assets as at March 31 grew to $116 million from $95 million.

Net operating costs increased to $33 million from $27 million partly driven by the ongoing expansion and refurbishment programmes.

The retail group, which runs OK shops, Bon Marché and OK Mart, last month opened a new branch along Wynne Street in Harare amid plans to add three more branches in Chitungwiza, Hwange and Harare. To widen its revenue inflows, the group announced that it had recently obtained a Money Transfer Agency licence and was currently developing other financial services products to expand this line of business.

OK Zimbabwe said overheads also increased by 19,2% to $65,2 million in the previous year mainly due to increases in employee benefits as the company increased its workforce.

“Costs incurred in moving products to the branches increased pursuant to greater use of the distribution centre for warehousing and supply of imported products. The cost of borrowing increased to $800 000 from $500 000 in the prior year as the convertible loan from Investec Africa Frontier (Private) Equity Fund and other bank facilities were accessed during the year,” group chairman David Lake said in a statement accompanying the results.

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