{"id":48855,"date":"2026-10-23T11:39:53","date_gmt":"2026-10-23T09:39:53","guid":{"rendered":"https:\/\/www.channelafrica.co.za\/channelafrica\/?post_type=news&#038;p=48855"},"modified":"2026-10-23T11:39:53","modified_gmt":"2026-10-23T09:39:53","slug":"sas-pick-n-pay-withdraws-restructuring-process-after-union-deal-sees-narrower-interim-loss","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/sas-pick-n-pay-withdraws-restructuring-process-after-union-deal-sees-narrower-interim-loss\/","title":{"rendered":"SA&#8217;s Pick n Pay withdraws restructuring process after union deal, sees narrower interim loss"},"content":{"rendered":"<div><span style=\"font-family: var(--global--font-secondary); font-size: var(--global--font-size-base);\">South African (SA) retailer Pick n Pay said it has withdrawn a previously announced restructuring consultation process after \u200breaching a deal with its labour union, \u200band forecast a 25%-35% narrowing in first-half \u2060headline loss per share.<\/span><\/div>\n<div id=\"x_ms-outlook-mobile-signature\">\n<div>\nThe grocer has been pursuing \u200ba turnaround plan focused on improving its product \u200boffering, closing underperforming stores and cutting costs as part of a multi-year overhaul.<\/div>\n<div><\/div>\n<div>Pick n Pay said it had reached \u200ban agreement with its primary labour partner, the \u200bSA Commercial, Catering and Allied Workers Union, ending the \u200cprocess \u2060initiated in May<\/div>\n<div><\/div>\n<div>In September, the company appointed Woolworths Executive Spencer Sonn as its next Chief Executive Officer succeeding Sean Summers <span dir=\"ltr\">on February 1, 2027<\/span><\/div>\n<div>The retailer on Thursday \u200bsaid it \u200bexpects a \u2060headline loss per share of between 44.83 and 38.85 cents for the 26 \u200bweeks ended August 30, compared with \u200ba \u2060loss of 59.77 cents per share a year ago<\/div>\n<div><\/div>\n<div>The narrower loss was driven by higher trading profit \u2060at \u200bdiscount chain Boxer and a \u200bsmaller trading loss in its core Pick n Pay segment<\/div>\n<div><\/div>\n<div>&#8211;Reuters&#8211;<\/div>\n<\/div>\n","protected":false},"featured_media":16471,"template":"","meta":{"_acf_changed":false,"_members_access_role":[],"_members_access_error":"","_links_to":"","_links_to_target":""},"news-type":[26],"class_list":["post-48855","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-general_news","entry"],"acf":{"short_description":"In September, the company appointed Woolworths Executive Spencer Sonn as its next Chief Executive Officer.","published_date":"","news_description":"In September, the company appointed Woolworths Executive Spencer Sonn as its next Chief Executive Officer.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":2,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48855\/revisions"}],"predecessor-version":[{"id":48857,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/48855\/revisions\/48857"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/16471"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=48855"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=48855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}