Pick n Pay sends warning
Pick n Pay has released a trading statement for the 48 weeks ended 1 February 2026, revealing that the group expects its headline loss per share (HEPS) for the 2026 financial year to worsen by over 20%.
This equates to an increased loss per share of more than 12.31 cents. Pick n Pay attributes the expected decline in profitability to less-than-expected turnover during the period.
“The Group advises shareholders that it expects the headline loss per share for FY26 to increase by more than 20% when compared to the headline loss per share of -61.54 reported for FY25,” it said.
It added that the Pick n Pay Group doesn’t currently have reasonable certainty around its expected earnings per share for the 2026 financial year.
“The expected increase in the FY26 loss per share vs. FY25 is due to the below-expectation turnover impacting on the Group’s previous guidance of the FY26 trading loss being ‘broadly in line with FY25’,” it added.
Regarding its performance during the reporting period, Pick n Pay South Africa’s like-for-like sales grew by 2.9%, with Pick n Pay South Africa-owned supermarkets’ like-for-like sales growing 3.5%.
However, it noted that Pick n Pay South Africa’s turnover declined by 1.4% during the period, which was due to the now largely-completed, planned closure or conversion of underperforming supermarkets.
At the same time, Boxer turnover grew 11.9%, and 3.9% on a like-for-like basis. The Group said its turnover for the last 22 weeks of the period increased 1.3%, including a 1.7% like-for-like increase.
“The trading performance for the latter 22 weeks of the period was primarily driven by a soft November, which reflects general market conditions as reported elsewhere,” the Pick n Pay Group said.
Regarding the company’s delivery services, online turnover for the period grew by 31.8%, which was driven by the continued growth of Pick n Pay asap! and Pick n Pay Groceries on the Mr D app.
Pick n Pay expects to release its financial results for the period to be published on or about 25 May 2026.
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