Pick n Pay CEO reveals "Back-to-Basics" strategy to restore profitability amidst financial challenges.
Pick n Pay CEO Sean Summers unveils a six-point strategy to restore the core Pick n Pay supermarket business to profitability, following a disappointing full-year performance for FY24. The new "Back-to-Basics" strategy focuses on simplicity, quality, affordability, and sustainability to help the retailer reclaim its former success. Key challenges include a substantial trading loss, increased gearing and interest rates, non-cash store asset impairment, and breached lender covenants.
May 27, 2024
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