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| Name | UNDICTATED: Summers’s challenge exposed by Pick n Pay’s ’truly awful” results, shares drop 14% |
| Video Uploader | Video From BizNewsTv |
| Upload Date | This Video Uploaded At 18-10-2023 16:52:38 |
| Video Discription | Today Pick n Pay released the last set of pre-Sean Summers financial results, numbers so bad that an already depressed share price promptly dropped another 14%. The group’s 70-year-old CEO, reinstalled two weeks back some 15 years after he retired, suggested the best thing about the numbers is that founder, the late Raymond Ackerman, wasn’t around to see them. But he has a plan, and although it will take time (Summers says 18-24 months before anything profound is evident), far-sighted investors will be encouraged. In this episode of UNDICTATED, SA’s master retailer shares what brought the group so low - and his plan to turn things around. He spoke to BizNews editor Alec Hogg. Video production by Asime Nyide Your early morning brew of the BizNews Insider keeps you up to speed with the content that matters. The newsletter will land in your inbox at 5:30am weekdays. Register here - https://bit.ly/3lfVRYP. --- Timestamps 00:09 - Introductions 01:10 - Sean Summers on if he has changed his business practices since coming back into retail 02:13 - What brought him back to Pick ‘n Pay 08:08 - On what has he changed and learned to bring back to the business 11:41 - How he will address the wave of retrenchment 14:18 - How many outlets has he got 16:25 - How long will it take him and the team to turn Pick ‘n Pay around 18:37 - Feedback from the investment community 20:16 - Expectation of competitors doing anything different 25:34 - Conclusions Join this channel to get access to perks: https://www.youtube.com/channel/UCEKFTZQpCTs3YVf3yetO3Ng/join #southafrica #business #economy #picknpay NGjD4q3p7ug |
| Category | News & Politics |
| Tags | Rational Perspective | Business | Money |
