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New CEO of South Africa's third biggest grocery retailer Pick n Pay announced on Monday that over 100 loss-making core supermarket stores will either be closed or converted, in a group-wide... -May 27, 2024 at 11:12 am EDT - MarketScreener
The retailer, which also posted an interim loss last year, is on track to achieve profitability with its new plan, says CEO Sean Summers.
The decision of the Ackerman family to relinquish control of Pick n Pay is generous. Legally, there was nothing obliging the family to make this concession.
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