Sales at one of the country’s biggest retail concern by market share, Pick n Pay Zimbabwe fell by 21 percent in the year to March.
This has been mainly attributed to COVID-19 restrictions, which saw a reduction in trading hours and limits in the movement of people.
However, the company says it now registering some recovery.
“The decline in volumes reduced in the second half of the financial year and volumes are currently increasing on a month-on-month basis,” says the company.
Apparently, in Zimbabwe, Pick n Pay trades under the TM Pick n Pay group.
Meanwhile, the Group’s financial results demonstrate resilience against the unprecedented effects of the COVID-19 pandemic.
Whilst the COVID-19 pandemic affected all Group segments, it impacted severely on the Hospitality segment’s operating revenue and profitability, as was common in that industry.