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PIK
PIK
PIK - Pick `N Pay Stores - Nielsens backs up Pick N Pay market share figures
PICK `N PAY STORES LIMITED
(Incorporated in the Republic of South Africa)
(Registration number 1968/008034/06)
Share code: PIK
ISIN code: ZAE000005443
("Pick n Pay")
NIELSENS BACKS UP PICK N PAY MARKET SHARE FIGURES
Shoprite`s remarks "just plain wrong"
Pick n Pay today responded firmly to comments made by Shoprite with respect
to the market shares of both companies.
Pick n Pay responded to Shoprite`s comments that their market share
statistics were `hogwash` by saying that Shoprite`s comments were `just plain
wrong`. Nielsens have subsequently backed up the figures Pick n Pay presented
at its half year end results last week, which show that Pick n Pay had
increased its market share over the 12 month period (August 08 to August 09)
by 0.4%. The numbers quoted by Nielsen then substantiate the fact that Pick n
Pay is indeed South Africa`s largest supermarket chain, and by a considerable
margin.
The numbers quoted by Pick n Pay at the analyst`s presentation were as
follows, which includes Boxer and excludes Score (a discontinued operation)
for PnP and includes OK Foods (Sentra conversions) and Usave for
Shoprite/Checkers - annual ending August 09:
* PnP Group 12mm Aug 08 33.5% and 12mm Aug 09 33.9%
* 12mm Aug 09 Shoprite 29%
If we had included Score into the PnP Group total the market share would have
been 34.6% for the same twelve month period.
The comparable market share figures for September 09 are:
* PnP Group including Boxer 33.3% and including Score 33.5%
* Shoprite 30.8%
Ultimately, however, Pick n Pay does maintain that profitable market share is
more important than market share in isolation.
Nick Badminton, CEO of Pick n Pay said: "We do not wish to engage in a debate
on market share in the media with Shoprite but will rely on Nielsens, from
where we both derive our statistics, to provide empirical information. These
figures speak for themselves."
ENDS
For further information, please contact Tamra Veley on 083 251 3658.
Investec Bank
Sponsor
28 October 2009
Date: 28/10/2009 08:00:04 Produced by the JSE SENS Department.
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