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Wed 6 Aug 2025
Close: 2 678c 
Day's move: -124c (-4.43%)
Volume: 963 704
Trades: 1 247
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Pick n Pay - results of annual general meeting
Shareholders were advised that, at the 57th Annual General Meeting (AGM) of Pick n Pay Stores Ltd. held today, 5 August 2025, all the ordinary, advisory and special resolutions proposed at the AGM were approved by the requisite majority of votes.
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Pick n Pay - trading update and board changes
The trading performance of the Company and its subsidiaries ("the Group") for the 17-week period to 29 June 2025 ("the Period") reflected further steady like-for-like sales improvement from Pick n Pay Supermarkets and another strong performance from Boxer Retail Ltd. Group ("Boxer").
Group turnover for the Period increased 4.3%, with like-for-like sales up 3.8%, against the same period last year. The Group views this as a creditable performance in the context of a highly constrained consumer and continued subdued food price inflation.
- Pick n Pay South Africa (SA) like-for-like sales for the Period grew 3.6%. Implementation of the Store Estate Reset Plan resulted in turnover growth lagging like-for-like sales momentum as a consequence of the planned store closures and conversions.
- Boxer turnover for the Period grew 12.1%, with 3.9% like-for-like sales growth. Further detail on the Boxer performance can be found in the trading update released on the Stock Exchange News Service of the JSE by Boxer on 29 July 2025.
Clothing turnover growth in standalone stores (reported within the Pick n Pay segment) for the Period was 17.3% (12.5% like-for-like sales). Clothing benefitted from both strong execution in the Period and a soft base in the comparative period (which was the result of port delays and a late start to winter last year). We expect clothing turnover momentum to soften somewhat as the base normalises in the second half of FY26.
Online sales growth for the Period was 33.0%, driven by continued growth of Pick n Pay asap! and Pick n Pay groceries on the Mr D app.
Pick n Pay SA's internal selling price inflation for the Period was 1.8%, slightly down on the 2.1% reported for FY25, and well below CPI Food of 4.2%.
Changes to the board
The Board announced that Grant Pattison will join the Board in the first half of 2026 as an independent non-executive director and as a member of the Group Audit, Risk and Compliance Committee, once he has completed his notice period on a previous engagement.
Professor Haroon Bhorat, an independent non-executive director of the Company since May 2020 and currently serving as Chair of the Social, Ethics and Transformation Committee (a role he assumed in May 2025), has been appointed as a member of the Nominations and Corporate Governance Committee, with effect from 5 August 2025.
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Pick n Pay - B-BBEE annual compliance report
The Company's Broad-Based Black Economic Empowerment Act: annual compliance report has been published and is available at: picknpayinvestor.co.za/governance.php.
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| Closing price data source: JSE Ltd. All other statistics calculated by ProfileData. |
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