{"id":445266,"date":"2026-05-26T02:19:17","date_gmt":"2026-05-26T02:19:17","guid":{"rendered":"https:\/\/www.newsbeep.com\/nz\/445266\/"},"modified":"2026-05-26T02:19:17","modified_gmt":"2026-05-26T02:19:17","slug":"pick-n-pay-ceo-sean-we-had-to-burn-billions-to-save-the-company","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/nz\/445266\/","title":{"rendered":"Pick n Pay CEO Sean: \u201cWe had to burn billions to save the company\u201d"},"content":{"rendered":"<p>Sean Summers, CEO of Pick n Pay, outlines a tough but deliberate turnaround for the retailer as it battles market volatility, labour tensions and legacy costs. In a frank interview, he defends short-term share price swings and emphasises long-term value creation through restructuring and investment in stores and Boxer. He insists the goal is a sustainable, competitive future rather than quick fixes, despite pressure from losses, inflation and ongoing negotiations with unions and suppliers across South Africa\u2019s retail sector today.<\/p>\n","protected":false},"excerpt":{"rendered":"Sean Summers, CEO of Pick n Pay, outlines a tough but deliberate turnaround for the retailer as it&hellip;\n","protected":false},"author":2,"featured_media":445267,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[138,47198,219,111,139,69,68680,227197,1466,176246],"class_list":["post-445266","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-corporate-restructuring","tag-economy","tag-new-zealand","tag-newzealand","tag-nz","tag-pick-n-pay","tag-sean-summers","tag-south-africa","tag-stock-market-volatility"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/445266","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=445266"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/445266\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/445267"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=445266"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=445266"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=445266"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}