JOHANNESBURG (Reuters) – South African retailer Pick n Pay aims to cut costs by up to 3 billion rand ($186.74 million) in the next three years and grow its market share by 3%, its CEO Pieter Boone said on Tuesday.
One of the biggest organised retail chains in the country is aiming to increase its market share on the back of an aggressive expansion of its discount grocery chain Boxer, Boone said, adding group would aim to achieve annual growth of 10% up to financial year 2026.
He was addressing investors post the group’s annual results announced earlier in the day.
(Reporting by Nqobile Dludla; Writing by Promit Mukherjee; Editing by Olivia Kumwenda-Mtambo)
