South African grocery chain Pick n Pay reported a 4.3% increase in group turnover, driven by higher supermarket sales and strong growth at its discount chain Boxer, despite challenging consumer conditions. Like-for-like sales, excluding store openings, closures, or acquisitions, rose 3.8% for the 17 weeks ending June 29. Pick n Pay also achieved a 3.6% growth in like-for-like sales, despite planned store closures under its Store Estate Reset Plan. Boxer saw a 12.1% rise in turnover, with like-for-like sales up 3.9%. The group described this as a strong performance given the tough consumer environment and low food price inflation.
Boxer, majority-owned by Pick n Pay, was separately listed on the Johannesburg Stock Exchange in November 2024. It competes with Shoprite’s Usave and SPAR’s SaveMor in smaller towns and rural areas.
Additionally, Pick n Pay appointed Grant Pattison, former CEO of Edcon and Massmart Holdings, as an independent non-executive director designate. He will join the board in 2026 after completing his current commitments. The company remains focused on strategic initiatives, including its Store Estate Reset Plan, to optimise profitability amid difficult economic conditions.