Pick n Pay Group is set to report another half-year loss, although it is an improvement compared with the same period last year. The trading statement for the 26 weeks ended 31 August 2025 was released on Thursday afternoon.
The retailer informed shareholders that it anticipates a headline loss of between R399 million and R479 million, representing a 40% to 50% reduction compared to the R803 million loss reported for the same period last year.
“The expected reduction of the headline loss is driven by a somewhat improved Pick n Pay segment trading result, a strong Boxer trading result, and a large positive swing in net funding interest,” the retailer said in the statement.
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Pick n Pay sales
According to the statement, group turnover increased by 4.9%, with like-for-like sales up 4.7% compared to the same period last year. “The Group views this as a credible performance in the context of a highly constrained consumer and continued subdued food price inflation,” said the retailer.
The retailer added that implementing the planned store closures and conversions results in overall turnover growth lagging behind like-for-like sales momentum.
“Pick n Pay SA’s internal selling price inflation for the period was 2.1%, in line with the 2.1% reported for FY25, and well below CPI Food of 4.6%.”
Other Pick n Pay segments
Clothing turnover growth in standalone stores was 12.0% (7.5% like-for-like sales).
“Clothing momentum moderated in the last two months of the period as the earlier softness in the base normalised.”
Online sales growth was 34.4%, driven by the continued growth of Pick n Pay asap! and Pick n Pay groceries on the Mr D app.
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Boxer delivers
The retailer still owes a significant portion of Boxer, which was listed on the Johannesburg Stock Exchange (JSE) last year.
Boxer remains the star of the group, as it delivered another strong performance. If it were not for Boxer, the group’s losses would be higher than they are now.
“Boxer turnover for the period grew 13.9%, with 5.3% like-for-like sales growth,” said Pick n Pay. “The group is pleased with Boxer’s sustained strong performance.”
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