Zim losses weigh on Pick n Pay

The group, which operates the TM Pick n Pay supermarket chain, said the regulatory change had immensely supported customer spending at its stores, although demand remained con­strained by subdued disposable incomes.

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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