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THE SMART NEWS SOURCE | Feb 10 2012 07:17 | LAST UPDATED Feb 10 2012 07:17 |
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Shares in Africa's second biggest retailer Pick n Pay opened nearly 3% in the red on Friday as striking workers protested allegations of racism in the grocery chain in South Africa. The strike by more than 20 000 workers could threaten sales in the run-up to the festive season, worsening an already subdued retail environment hit by tight consumer spending in the aftermath of a recession in Africa's biggest economy. The workers are aligned to the South African Commercial Catering and Allied Workers' Union (SACCAWU) allege that Pick n Pay fast tracks promotions for white "casual" staff over experienced black employees. The retailer has denied the charges. By 7.20am GMT Pick n Pay shares were down 2,69% at R40,52 compared to a 0,32% rise in the JSE general retailers index. - Reuters  CONTINUES BELOW TOPICS IN THIS ARTICLE
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