JOHANNESBURG - Pick n Pay is bracing for a significantly wider loss in the 2026 financial year.
The retailer says it expects a headline loss of R489.6-million, up from R407-million in 2025, an increase of just over 20 percent.
While the loss is deepening year-on-year, it still reflects an improvement from the R977-million loss reported in 2024.
The retailer says it is still unable to forecast its earnings per share for 2026.
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Pick n Pay says the expected deterioration in headline loss per share is being driven by below turnover, which has forced a revision of earlier guidance.
For the 48-week period, turnover grew 3.2 percent, with like-for-like sales up 3.4 percent.
However, the group also reported a 1.4 percent decline in turnover due to the planned closure,
or conversion of underperforming company-owned supermarkets.