Pick n Pay cuts losses in half

Pick n Pay reported that its loss per share will improve by as much as 50% in its upcoming results for the first half of the 2027 financial year.

While the retailer remains in the red, it said its core Pick n Pay segment will report a narrower trading loss.

As in previous results, Boxer also made a positive contribution to Pick n Pay’s earnings.

On Thursday, 22 October, at market close, Pick n Pay released a trading statement outlining its performance for the 26 weeks ended 30 August 2026.

This comes a few days before the retailer is set to release its first-half 2027 financial year results on Monday, 26 October.

Pick n Pay expects its loss per share to improve by between 40% and 50%, with its headline loss per share narrowing by between 25% and 35%.

“The expected reduction in headline loss per share is the result of an improvement at the group trading profit level,” Pick n Pay said.

It explained that Boxer delivered trading profit growth, while the core Pick n Pay segment delivered a “moderately reduced” trading loss. 

“The group notes that the large percentage reduction in the expected headline loss per share is partially a function of the relatively small absolute H1 FY26 headline loss (R439 million),” it added.

This means that a moderate reduction in the absolute headline loss leads to a relatively large percentage change.

Returning its core Pick n Pay segment to profitability is one of the key aims of the retailer’s ongoing turnaround strategy under CEO Sean Summers.

At its latest results presentation, Summers informed the market that Pick n Pay has had to push the break-even target for its core supermarket segment out by another year.

Pick n Pay previously expected this segment to break even in the 2027 financial year, which was later pushed to 2028. Now, break-even is expected in 2029.

Pick n Pay will release its results for the first half of the 2027 financial year on Monday, 26 October.