Investor Relations
Welcome to the Pick n Pay Group
Investor Relations
Welcome to the Pick n Pay Group
The Group is a retail business in the fast-moving consumer goods industry – operating 2 238 stores across multiple formats in six countries across southern Africa. We provide our customers with a tailored range of high-quality food, grocery, clothing, liquor and general merchandise products at competitive prices. With our rich 58‑year history, we benefit from strong brand loyalty and broad socio‑economic appeal within the regions we serve.
We serve
With our hearts, we create a great a place to be
With our minds, we create an excellent place to shop
Economic
R118.6 billion Turnover
R12.5 billion Recapitalisation Plan successfully executed
R10.3 billion Shareholders equity
Enviromental
First retailer in Africa to make sustainable seafood commitments
Founding member of the Consumer Goods Council Voluntary Food Waste Agreement
First South African retailer to sign up to 1 o 10x20x30 Food Waste Initiative
Social
90 000 people across our company-owned and franchise operations
400 000 jobs sustained through the reach of our value chain
Alleviating hunger through Feed the Nation
Supporting 3 380 schools through our Pick n Pay School Club
Governance
Member of the international Consumer Goods Forum and the Consumer Goods Council of South Africa
Secondary listing on A2X to promote development of the investor market in South Africa
Important Board and control changes to strengthen Board independence and advance the rights of all shareholders
Pick n Pay is one of South Africa’s most iconic and inclusive brands. As a much-loved shopping destination, Pick n Pay has moved hand-in-hand with the changing needs and aspirations of its customers for 58 years.
The Group is well-positioned to serve the needs of customers across all socio-economic backgrounds. With greater operating flexibility, efficiency and cost‑effectiveness, the Group operates successfully in a broad range of locations.
| Footprint at 31 August 2025 | |||||
| Pick n Pay | Boxer | TM | |||
| Owned | Franchise | Owned | Associate | Total | |
| Country: | |||||
| South Africa | 942 | 606 | 537 | – | 2 085 |
| eSwatin | – | 21 | 10 | 31 | |
| Zambia | 23 | – | – | – | 23 |
| Botswana | 19 | – | – | – | 19 |
| Lesotho | – | 4 | – | – | 4 |
| Zimbabwe | – | – | – | 76 | 76 |
| 984 | 631 | 547 | 76 | 2 238 | |
| Formats: | |||||
| Supermarkets1 | 311 | 412 | 327 | 62 | 1 112 |
| Clothing | 406 | 18 | – | – | 424 |
| Liquor | 267 | 201 | 189 | 14 | 671 |
| Build | – | – | 31 | – | 31 |
| 984 | 631 | 547 | 76 | 2 238 | |
1 Supermarkets includes Hypermarkets.
Pick n Pay is a multi-format, multi-channel retailer with a broad network of owned and franchised stores across southern Africa. Our supermarket estate serves a wide range of communities with tailored product ranges that balance quality, value, freshness and convenience. As part of our strategic reset, we are modernising and right-sizing stores to enhance the customer experience, improve operational execution and restore the strength of our core supermarket offer.
We continue to expand our digital reach as customers adopt more flexible ways to shop. Pick n Pay Online, Pick n Pay asap! and Pick n Pay Groceries on Mr D together offer scheduled delivery, rapid on-demand fulfilment and integrated loyalty benefits, giving customers greater choice and accessibility. These channels are growing strongly and form an important part of our future-ready, customer-led retail model.
Boxer is South Africa's leading soft discount retailer, serving value-conscious customers across urban, peri-urban and rural communities in South Africa and Eswatini. With more than 500 stores across its Superstores, Liquors and Build formats, Boxer offers a focused range of essential groceries, fresh produce, quality meat and everyday household items at consistently low prices. The business operates independently within the Pick n Pay Group, which retains a 65.6% shareholding, and continues to follow a disciplined, volume-led model that prioritises operational efficiency, affordability and community relevance.
Boxer's strong brand equity, lean cost structure and expanding distribution capability position it well for sustained growth as it accelerates its expansion into under-served areas. A growing loyalty base, clear value proposition and well-established store formats continue to drive customer loyalty and strong sales densities, supporting Boxer's mission to make shopping easy, accessible and affordable for the communities it serves.
Customers are at the heart of our business. Consumer sovereignty informs everything we do, from how we source and buy our products and the product range we offer, to how we design and run our stores to give customers great value and service. Putting the customer first means we always work hard to understand their diverse and changing needs and how we can serve them better.
Pick n Pay is one South African's most iconic and inclusive brands. As a much-loved shopping destination, Pick n Pay has moved hand-in-hand with the changing needs and aspirations of its customers for 58 years. The Pick n Pay brand continues to get closer to customers – with product ranges, promotions and customer engagement specifically tailored to meet the needs of the customers served.
Boxer has a rich 48-year history and has developed into Africa's fastest growing discount supermarket chain, with strong market share gains over a number of years. Boxer is winning customers by providing unbeatable value on the products that are most important to customers in the lower-to-middle-income communities of South Africa, and by having a modern store estate, a tight and targeted product range, and a strong fresh meat and produce offer.
South–Africa is a diverse and rapidly evolving market, with customers whose needs and expectations continue to shift. The retail environment remains highly competitive, shaped by economic pressure, changing shopping behaviours and increasing demand for value, convenience and digital engagement. While electricity supply has stabilised, broader infrastructure challenges and cost pressures persist. Despite these headwinds, the formal food and grocery market continues to grow, supported by demand in the value segment. This presents meaningful opportunity for the Group, particularly in lower- to middle-income communities where its formats are well positioned to meet customer needs.
The Group has a broad store estate – with 2 238 stores catering to all demographics and customer segments. The combination of our brands and formats is formidable, providing proximity to many customers and growing communities.
In addition to our company-owned stores, our community of Pick n Pay franchisees is a true strength for the Group – highly skilled, committed, and community-centred.
The Group continues to build strong growth engines alongside its core Pick n Pay supermarket business. Boxer remains a standout performer with sustained volume‑led growth, while Pick n Pay Clothing continues to expand rapidly in the value apparel market. The Group's online and on‑demand channels are also gaining traction as customers adopt more convenient, digitally enabled ways to shop.
A robust technology backbone supports these growth areas. The Group's integrated SAP platform enables automated, centralised processing and accurate, forecast-driven replenishment. Advanced point-of-sale systems facilitate a wide range of value-added services and underpin the Smart Shopper loyalty programme, enabling personalised, app-driven rewards and seamless customer engagement.