Pick n Pay Stores (PIK) Trading update summary

Turnover and sales performance

• Group turnover for 48 weeks to 1 February 2026 grew 3.2%, with like-for-like growth at 3.4%.

• Pick n Pay SA like-for-like sales rose 2.9%, while company-owned supermarkets achieved 3.5% growth.

• Boxer turnover increased 11.9%, with like-for-like growth at 3.9%.

• Online turnover surged 31.8%, driven by Pick n Pay asap! and Mr D app grocery sales.

• Clothing turnover in standalone stores grew 4.9%, but like-for-like was only 0.4% amid a challenging market.

Recent trading trends and market conditions

• Group turnover for the last 22 weeks rose 1.3%, with like-for-like up 1.7%.

• November 2025 saw a decline in like-for-like sales, but growth returned in December and improved further in January 2026.

• Clothing sales momentum recovered to mid-single-digit growth in January.

• Internal selling price inflation was 2.7%, below the 4.5% CPI Food rate.

Profitability and guidance

• Headline loss per share (HEPS) for FY26 is expected to increase by more than 20% from FY25's -61.54 cents.

• The increase in loss is attributed to below-expectation turnover impacting previous guidance.

• No reasonable certainty yet on the expected earnings per share for FY26; further updates will follow.

• Operational improvements have been made, but trading profit recovery is not expected to be linear.

• Financial results for the period will be published around 25 May 2026.