Zim losses weigh on Pick n Pay

Meikles wants to exit the hospitality space to concentrate on the retail business which it operates with South Africa partner Pick n Pay. Under the TM Pick n Pay brand, Meikles controls 51 per-cent while Pick n Pay holds the remaining 49 percent.

SOUTH AFRICAN retailer Pick n Pay says continued losses at its Zimbabwean associate, TM Supermarkets, remained a drag on group earnings during the year ended March 1, 2026, despite the reduction in the prior year’s deficit. In its full-year financial results statement, Pick n Pay said its 49 percent investment in TM Supermarkets has remained…

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