Apparently it wasn't initiated by Pick 'n Pay as part of some peculiar communications strategy but was its reaction to an approach from an e.tv reporter.
Pick 'n Pay told me that the story as it was presented didn't reflect what they had tried to get across and that, "the coverage of food pricing and possible increases in the coming months was not part of a deliberate strategy on the part of Pick ‘n Pay”.
The Group went on to say that: "We were asked questions at a results presentation and the television station concerned elected to lead with this, although Pick ‘n Pay was keen to stress that we had not 'warned' of food price increases, but had simply stated that food inflation was forecast at about 8% although the company's internal inflation was only about 5.7%.
"We also said that we would continue to keep prices of basic foodstuffs as low as possible and where possible, would absorb some of the supplier price increases by warehousing. The company also made the point, which was not covered, that their margin was only 3%.
Well, was it badly handled PR or over-hyping and misquoting by e.tv?
Hopefully the two of them will sort it out and let us know just who got it all wrong.
