Pick n Pay shares drop after warning retrenchment costs will eat into earnings
02 October 2017 - 16:42
Retailer Pick n Pay’s share price fell more than 1% on Monday afternoon, after it warned shareholders that retrenchment costs would drag down its interim headline earnings per share (HEPS) by a slightly bigger margin than previously estimated. The grocery chain said in a trading statement that HEPS for the 26 weeks to August 27 would be at least 19c, or 20%, lower than the 82.43c reported in the matching period, a difference of 2c from its July estimate.
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