Pick n Pay says it has withdrawn a ‌previously announced restructuring consultation process, and forecasts a 25%-35% narrowing in first-half headline loss per share.

The ​grocer has been pursuing a turnaround ​plan focused on improving its product offering, ⁠closing underperforming stores and cutting costs ​as part of a multi-year overhaul.

Pick n Pay ​said it had reached an agreement with its primary labour partner, the South African Commercial, Catering and ​Allied Workers Union, ending the process ​initiated in May

Last month, the company appointed Woolworths executive Spencer ‌Sonn ⁠as its next CEO, succeeding Sean Summers on February 1, 2027

The retailer on Thursday said it expects a headline loss per ​share of between ​44.83 ⁠and 38.85 cents for the 26 weeks ended August 30, compared ​with a loss of 59.77 cents ​per ⁠share a year ago

The narrower loss was driven by higher trading profit at discount ⁠chain Boxer, and a smaller trading ​loss in its core Pick n Pay segment

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