Online deliveries keep the retailers's head above water in a disastrous year for Pick n Pay, according to its latest results.
Deliveries are growing rapidly with On demand sales climbing 102.3 percent over the 52 weeks ending 25th February.
While turnover across the group was up 5.4 percent, trading profit declined a jaw-dropping 87.4 percent to R385 million a loss of R1.5 billion compared to 2023. The retailer cites flat sales at its stores, trading expense growth exceeding sales growth, and gross profit margin contraction. It’s not all doom and gloom though, there is one impressive development in these results – online sales.
However, how long Shoprite will quake depends wholly on how Pick n Pay turns the ship around. In the first 12 weeks of the 2025 financial year, results are encouraging but, that’s barely scratching the surface.
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