{"id":603203,"date":"2026-05-25T15:55:09","date_gmt":"2026-05-25T15:55:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/603203\/"},"modified":"2026-05-25T15:55:09","modified_gmt":"2026-05-25T15:55:09","slug":"pick-n-pay-ceo-sean-we-had-to-burn-billions-to-save-the-company","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/603203\/","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":603204,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[84,52440,1294,92434,205738,4247,168240,56,54,55],"class_list":["post-603203","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-corporate-restructuring","tag-economy","tag-pick-n-pay","tag-sean-summers","tag-south-africa","tag-stock-market-volatility","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/603203","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=603203"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/603203\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/603204"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=603203"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=603203"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=603203"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}