Pick n Pay Stores Limited (PIK) Earnings Call Transcripts

Pick n Pay Stores Limited's Latest Earnings Call - May 25, 2026

In the FY '26 results for Pick n Pay Stores Limited, the company reported a turnover of ZAR 120 billion, a 3.4% increase year-over-year, but the Pick n Pay segment saw a decline of 1.6%. The profit before tax improved to ZAR 360 million from a loss of ZAR 237 million last year, primarily driven by a positive swing in net funding interest of ZAR 681 million. Management indicated a cautious optimism about returning to growth in FY '27, with guidance for capital expenditure raised to ZAR 1.4 billion, up from ZAR 1.8 billion, as they focus on strategic initiatives to improve profitability.

Reported metrics

Guidance from management

Management raised capital expenditure guidance to ZAR 1.4 billion for FY '27, indicating a focus on growth initiatives and operational improvements. They expect to return to a growth business as store closures are now largely in the base.

What management said

Three related questions, actually, one from Jacques , private investor, Paul Steers from Nedbank and Michael Jacks from Bank of America. In very simple terms, could you tell us about the Section 189 and what it's designed to achieve? Then what measures are you taking to sustain the improvements made in in-store customer experience through 189? And then please, could you give us an update on the trade union discussion...

Question from Michael B at Priccidium. Mobile SIM card -- sorry, why haven't you given all your smart shoppers a free Pick n Pay mobile SIM card so that they can claim their gigs for groceries. It would make Pick n Pay Mobile the biggest MVNO network in the country and would generate William an additional revenue. What's holding you back?

What analysts pressed on

Analysts expressed concerns over the impact of rising labor costs and the effectiveness of the Section 189 consultation process. There are worries about the sustainability of the current operational improvements and whether the company can effectively manage its expenses moving forward.

Main topics on the call

• Turnaround Progress — Management expressed satisfaction with the steady recovery in top-line sales, stating, "We are pleased with the steady pace of recovery that we're showing in the organization." However, they acknowledged the ongoing chal...
• Boxer Performance — Boxer continued to perform well, with a turnover increase of 12.3% and a trading profit increase of 17%. Management highlighted that Boxer is a strong cash generator, contributing ZAR 0.9 billion to cash reserves during ...
• Store Closures Impact — The conclusion of the store reset program led to a decline in Pick n Pay segment turnover, which fell by 1.6%. Management noted, "The turnover that we actually have achieved on a like-for-like basis is absolutely reflect...
• Cost Management Challenges — Management reported a trading loss increase to ZAR 953 million, up from ZAR 549 million last year, citing rising expenses as a significant concern. They stated, "We are acutely aware of the requirement to get our like-fo...

Read the full Pick n Pay Stores Limited transcript (May 25, 2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 20 Pick n Pay Stores Limited earnings call transcripts on record, spanning May 12, 2020 to May 25, 2026. Based on this history, Pick n Pay Stores Limited reports semi-annually. The most recent call on file is dated May 25, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

PIK

Exchange

JSE

Country

ZA

Sector

Consumer Staples

Industry

Consumer Staples Distribution and Retail

Calls on record

20

First call

May 12, 2020

Most recent

May 25, 2026

Reporting cadence

semi-annually