JOHANNESBURG - Retailer Pick 'n Pay has reported another loss.
And its share price plunged today after it warned that it will take longer to break even and move into profit mode.
Pick 'n Pay released results for the year that ended on 1 March.
Its loss improved to below R200 million in the 2026 financial year from more than R650 million in 2025.
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Pick 'n Pay is undergoing a turnaround strategy and says that positive progress is being made.
But it has pushed out the profit break-even target for the Pick 'n Pay segment to 2029.
The company says high labour costs remain a major challenge, with the CEO, Sean Summers, defending an ongoing Section 189 consultation process.
Initially, the share price plunged by around seven percent, but Pick 'n Pay was on track to close 4% lower.