performance report

The key pillars of our strategy, being customer, profit, leadership and growth, remain and there were no changes to these strategic pillars during the year. This follows a formal annual review of our strategy by our operating board, with further review and ratification by our supervisory board in addition to monitoring and measuring its performance, and executive management, against key performance indicators. The formal review is supplementary to the ongoing operating board and supervisory board’s review of strategy and related performance measures. To assist in the measurement of performance against strategy, all strategic imperatives underpinning the strategic pillars are driven by members of our operating board.

Target setting

During every financial year, we undertake a five-year Vision planning process where we, based on current planned initiatives and expansion plans driven by our strategy and current market conditions, prepare a view of our expected earnings for the respective financial years. This plan is used to establish the medium-term targets for each strategic pillar and underlying strategic imperative against which performance will be measured.

Our Vision 2021 plan does not differ materially from our Vision 2020 plan. Our performance for the year, against these targets, is indicated in the content that follows:


We believe that teamwork, coupled with professionalism, in all aspects of retailing, will continue to be the foundation for the future.
  • Professionalism
    We are accountable and drive performance in a creative and innovative way
  • Resilience
    We have the courage of our convictions and the boldness to constructively challenge
  • Integrity
    Our word is our honour, we are honest and ethical
  • Dignity and respect
    We treat everyone the way we want to be treated
  • Empowerment
    We embrace diversity and create equal opportunity for all in a supportive environment
  • Excellent service
    Our customers are our future – we look after them

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