South Africa's Pick n Pay reports 4.3% rise in turnover
Like-for-like sales, which exclude the impact of store openings, closures, conversions, or acquisitions, rose 3.8% during the period, the group said in a trading statement for the 17 weeks ended June 29.
Pick n Pay South Africa recorded 3.6% growth in like-for-like sales despite planned store closures under its Store Estate Reset Plan. Meanwhile, Boxer posted a 12.1% increase in turnover, with like-for-like sales rising 3.9%.
"The Group views this as a creditable performance in the context of a highly constrained consumer and continued subdued food price inflation," said Pick n Pay, the second-largest grocery retailer in southern Africa by turnover.
Boxer, majority-owned by Pick n Pay, was listed separately on the Johannesburg Stock Exchange in November 2024 and competes with Shoprite's (SHPJ.J), opens new tab Usave and SPAR's (SPPJ.J), opens new tab SaveMor in smaller towns, townships, and rural areas.
Separately, Pick n Pay announced the appointment of Grant Pattison as an independent non-executive director designate. Pattison, a former CEO of Edcon and Massmart Holdings, will join the board in 2026 after completing his current commitments.
Pick n Pay continues to navigate challenging economic conditions while focusing on strategic initiatives, including its Store Estate Reset Plan aimed at optimising profitability.
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