Johannesburg – 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.
The retailer 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% year-on-year.
Headline earnings per share for the year fell to 229.31 cents from 291.90 cents.
