Pick n Pay’s group sales for 45 weeks to January 5 increased 3.6%, and 3.3% like for like, it said on Tuesday. Sales were up 3.5% and 3.8% on a like-for-like basis in the latter 19 weeks of the period.
Pick n Pay’s like-for-like sales grew 1.6% with Pick n Pay SA like-for-like sales increasing 1.9%.
Pick n Pay SA like-for-like sales momentum in the latter 19 weeks of the period improved to 3%, the group said in a statement.
Implementation of the Store Estate Reset plan resulted in total sales lagging like-for-like sales momentum, which was a natural consequence of the planned store closures and conversions, it added.
Pick n Pay SA closed 32 supermarkets during the period (24 company-owned stores and eight franchise stores), including the conversion of 5 company-owned supermarkets to franchise.
Boxer's sales grew 11.4% and by 6.7% on a like-for-like basis.
Clothing sales growth in stand-alone stores (reported within the Pick n Pay segment) was 10% and 1.7% like-for-like, with sales momentum improving in the latter 19 weeks to 10.3% (3.6% like-for-like).
Online sales growth for the period was 42.5%, driven by continued growth of Pick n Pay asap! and Pick n Pay Groceries on the Mr D app.
Pick n Pay SA internal selling price inflation for the period was 2.4% compared with 3.4% for the first half.
“The key turnaround indicator the group is targeting within the Pick n Pay SA segment is like-for-like sales growth in PnP SA Supermarkets (excluding stand-alone clothing stores),” it said.
The group is seeing steady consecutive improvement in this metric, from -0.4% in the second half of financial year 2024 to +1.3% in the first half of financial year 2025 and +2.8% for the 19 weeks ended January 5.
As a result of improved retail disciplines, Pick n Pay Company-owned Supermarkets (which account for the majority of reported Pick n Pay segment sales) improved like-for-like sales from -0.5% in the second half of financial year 2024 to 3.1% in the first half of financial year 2025 and 4.1% for the 19 weeks ended January 5.
“The group is encouraged by the much improved like-for-like volume trend over the past 12 months, as like-for-like sales growth has steadily risen against falling inflation.
“The group is pleased with Boxer’s continued strong performance and is driving to sustain and build on Pick n Pay Supermarkets’ improved like-for-like sales momentum by further enhancing retail disciplines and working with franchisees to drive franchise sales,” it said.
The group, valued at R21.4bn, has undertaken a huge turnaround strategy, including a rights offer, bringing back former CEO Sean Summers and a separate listing for Boxer on the JSE.
Pick n Pay’s share price rose the most since November on Tuesday, up 3.82% to R29.05.
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