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…
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.