RETAIL
AFRICA: MARCH 2009 - Pick n Pay addresses pricing concerns with suppliers.
On 26 January Business Day reported that Nick Badminton, CEO of supermarket chain Pick n Pay, had summoned 30 of the company's key suppliers to a meeting to discuss high and rising prices.
It quotes from what it calls a strongly worded invitation in which Badminton says 'in many cases, we are being asked by our suppliers for considerable cost price increases', which it describes as 'untenable' and in the case of our customers and the media, indefensible'. He added that there was an 'expectation from consumers, government spokespeople and the...read more