Pick `n Pay Stores / Pick `n Pay Holdings - Pick `N Pay Strike - Update Sunday
24 July 2005
Pick `n Pay Stores Limited Pick `n Pay Holdings Limited
Share code: PIK Share code: PWK
ISIN code: ZAE000005443 ISIN code: ZAE000005724
PICK `N PAY STRIKE - UPDATE SUNDAY 24 JULY 2005
Pick `n Pay stores nationwide were trading normally today, apart from three
incidents reported in Gauteng, where customers were prevented from entering
stores.
Pick `n Pay CEO Sean Summers said that a significant number had stayed away on
the first days of the strike. The company incurred trading losses of
approximately R24-million on Friday due to customers being prevented from
entering stores and employees erecting barricades outside stores to prevent
entry.
`The CCMA has since released picketing rules for the duration of the strike.
However, we do not believe that these on their own will allow us to operate
normally and without interference.
`This is a protected strike, which means that while workers have the right to
strike, a reciprocal right is for us to continue doing business and operating
our stores. On Friday and Saturday, there were a number of incidents where the
behaviour of striking workers was totally unacceptable.
`Fortunately, This Was Limited To Very Few Stores Nationwide And Otherwise,
Stores Were Operating Normally.
`We Are Taking Up This Issue Directly With The CCMA And Will Do Everything We
are able to do to ensure we can run our business as normally as we can during
the strike.
`We deeply regret the behaviour of some employees during the first days of the
strike and apologise to customers for any inconvenience or unpleasantness they
might have experienced.
`We believe our offer to be more than fair. If you consider not only the offered
increase of R310 per month or 7.9% (whichever the greatest), backdated to 1
March 2005, and roughly double the inflation rate - but also the comprehensive
benefits that our employees enjoy, we believe that our employees are amongst the
best remunerated in the industry.`
Cape Town
Sponsor:Investec Bank Limited
For further information, please contact Tamra Veley on 083 251 3658.
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