Pick n Pay profits hit by booze ban

The Group lost over 200 liquor trading days over the financial year. It resulted in an estimated R4 billion in lost sales. #DStv403#eNCA

JOHANNESBURG - Retailer Pick 'n Pay's profits were hit hard by the ban on the sale of alcohol.

READ: Pick n Pay shares drop following group CEO resignation

The group lost over 200 liquor trading days over the financial year.

It resulted in an estimated R4-billion in lost sales and R200-million in additional costs arising from the Group’s operational response.

Pick 'n Pay says the earnings reflect the full impact of measures taken to contain the spread of the virus but, the group's clothing sales increased 1.3 percent year-on-year.

Headline earnings per share for the year fell to 229.31 cents from 291.90 cents.

Source
eNCA

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