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WATCH: What weighed on Pick n Pay’s annual results

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Pick n Pay CFO Lerena Olivier talks to Business Day TV about the retailer’s annual results

Pick n Pay had essential status during hard lockdown, but restricted trade on cigarettes and alcohol at various times during the year cost the retailer R4bn in lost sales.

This, along with R200m spent on retrenchment costs, led to a 21.4% decline in the retailer’s annual headline earnings per share.

 

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