Key Points
- Pick n Pay plans to open 100 new stores by 2026, including corporate and franchise locations, starting in mid-2025.
- The retailer's recovery strategy includes listing Boxer Superstores, a R4 billion 229 million rights offer, and exiting Nigeria.
- CEO Sean Summers aims to cut losses by half, modernize underperforming stores, and restore market share amid recent financial setbacks.
Pick n Pay, one of South Africas leading retailers is set to open 100 new outlets by 2026 as part of a major expansion initiative.
The retailer, partly owned by the South African billionaire Ackerman family, is positioning itself for a recovery following previous financial setbacks.
CEO Sean Summers outlined the companys revitalization efforts, which include a public listing of the Boxer brand and the closure of underperforming stores.
This plan aims to not only boost Pick n Pays footprint across South Africa but also restore its financial health and market share, which have shrunk in recent years.
Expansion to begin in mid-2025Pick n Pays growth strategy kicks off in mid-2025 with the opening of 100 new stores, including both corporate and franchise locations.
