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Customers at Pick n Pay in Carlton centre in Johannesburg. Photo: Leon Nicholas.
Shares of Pick n Pay fall 1.2 percent to 45.30 rand after South Africa's No.2 grover says it chief executive will step down this month, as it fights to regian market share from domestic rivals and fend off US giant Wal-Mart.
“They are in a turnaround phase and it seems they don't have succession plan in place and that is making the market a little bit uncomfortable,” says Abri du Plessis, chief investment officer at Gryphon Asset Management. - Reuters
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Citizen1, wrote
Pick n Pay is on a downward spiral. The shops just dont seem to be clean anymore etc. Time to take stock...
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