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Pick and Pay

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22,290 просмотров • 1 месяц назад •via X (Twitter)

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“No retailer is too big to fail.” Pick n Pay SA CEO Sean Summers, who has the task to turnaround the troubled retail group, warns that even major retailers can fail. He points to once dominant retailers like Stuttafords and Edgars in South Africa as proof that size offers no protection. Another example? OK Zimbabwe. “OK was a 10-tonne gorilla” when Pick n Pay entered Zimbabwe in 2010, Summers says. Now, OK is “going to be gone”. Pick n Pay owns 49% of TM Pick n Pay. Since 2024, it has stopped including the Zimbabwe business in its group results. Had TM Pick n Pay been included in the year to March 2026, Pick n Pay’s share of the losses would have been the equivalent of about US$2.3 million, a narrower loss from the US$3.1 million loss the previous year. 📍 TM Pick n Pay has 73 stores in Zimbabwe, where formal retail is under pressure from informal trade, high regulation and currency distortions. 📍 Separately, in SA, Pick n Pay closed 56 shops over the past year as part of its restructuring.
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