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Pick n Pay profits hit by alcohol ban

Pick n Pay

Retailer Pick ‘n Pay’s profits were hit hard by the ban on the sale of alcohol. The group lost over 200 liquor trading days over the financial year. It resulted in an estimated R4-billion in lost sales and R200-million in additional costs arising from the Group’s operational response.

alcohol

Pick ‘n Pay says the earnings reflect the full impact of measures taken to contain the spread of the virus but, the group’s clothing sales increased 1.3 percent year-on-year. Headline earnings per share for the year fell to 229.31 cents from 291.90 cents.

In other news – Somizi’s late mother Mary Twala’s film opens in cinemas next month

Somizi’s late mother, Mary Twala’s final film will be opening in all cinemas across Mzansi very soon.

Somizi and Mary Twala

The star announced the passing of his 79-year-old mother in 2020 who died at Netcare’s Parklane Hospital in Johannesburg. Learn more

Source: eNCA