Pick n Pay Supermarket Warns Rising Prices Will Hit South Africans
- Increase in fuel, manufacturing costs may be passed to shopper
- Risk posed to post-pandemic recovery hopes, CEO Boone says
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Pick n Pay Stores Ltd. Chief Executive Officer Pieter Boone has had a stormy 10 months in charge of South Africa’s third-largest supermarket chain by sales -- and he says the task is unlikely to get easier.
The fading of the latest omicron-driven Covid-19 wave and increasingly loose pandemic restrictions have encouraged consumers to spend and travel with greater ease, but the impact of rising fuel, manufacturing and logistics costs is looming, Boone said.