EDITORIAL: True shape of Pick n Pay turnaround
Recovery is still looking fragile and financed rather than earned
27 May 2025 - 05:00
Pick n Pay turnaround appears, at first glance, to be gaining traction. The company narrowed its annual pretax loss to R237m (https://www.businesslive.co.za/bd/companies/retail-and-consumer/2025-05-26-pick-n-pay-narrows-losses-shows-signs-of-recovery/) in the year to the end of March, a sharp improvement from the R1.4bn loss in the previous year.
The company cites a 64% reduction in core supermarket losses and points to green shoots such as 5.6% turnaround growth. Yet it is hard to ignore how Pick n Pay is heavily leaning on one bright spot — Boxer — while the core business remains on wobbly footing. ..
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