South Africa's Retail Revival Hits a Bump in the Road The latest financials from Pick n Pay Stores Ltd. , one of South Africa's largest retailers, have sent shockwaves through the market.
The company's decision to delay its break even target by a year is being seen as a warning sign for the industry.
Pick n Pay has been overhauling its stores and improving operational efficiency since May, when it unveiled plans to slash costs by 3 billion rand ($181 million) over several years.