Discount retailer Boxer is performing well, with the company on track for a strong 2026 financial year.
After unbundling from its parent company, Pick n Pay, which retains a majority stake, and listing separately in 2024, Boxer has continued to go from strength to strength.
On Thursday, 5 February 2026, Boxer released a trading update for the 48 weeks ended 1 February 2026.
In this 48-week period, Boxer grew its turnover by 11.9%, and a more muted 3.9% on a like-for-like basis.
In the second half of this 48-week period, which spans 22 weeks ended 1 February 2026, the retailer recorded 9.8% turnover growth, or 2.4% growth on a like-for-like basis.
Boxer said this turnover growth reflects the combined impact of strong growth in September and October 2025, a soft November, and steady improvement in December and January 2026.
It explained that the November performance was the result of a constrained trading environment over the extended Black Friday period, together with a high November 2024 base.
However, as measured by NielsenIQ, Boxer still consistently gained market share throughout the 48-week period.
The retailer also reported that its internal selling price inflation for the period, as measured on a volume-held-constant basis, was -1.0%, compared to -0.7% for the first half of its 2026 financial year.
In addition, Boxer said it is on track to meet its 2026 store rollout guidance. The retailer has undergone an aggressive expansion over the past few years, now operating over 500 stores across the country.
The retailer has set a target of opening 60 new stores on a full-year basis in the 2026 financial year.
Boxer explained that its management team is working to meet its liquor store rollout objectives, in particular, but warned that this remains contingent on securing a number of outstanding liquor licences.
Overall, Boxer expects its sales growth for the 2026 financial year to be somewhat ahead of the reported sales growth for this 48-week period, given the softer February 2025 base.
“On management’s current assessment, Boxer remains on track to meet its FY26 trading profit growth objective,” the retailer added.
Boxer’s 2026 financial year will end on 1 March 2026, with the retailer expected to release its full-year results on 11 May 2026.
Source: https://dailyinvestor.com/retail/118710/pick-n-pays-crown-jewel-is-booming/