Ghost Biz - 5 February 2026
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Today in Ghost Biz, Gary Stroebel and The Finance Ghost discuss:
• Pepkor — A flat share price is described as strong relative outperformance after major competitors lost significant value, with modest like-for-like sales growth and a notable 27.9% jump in online sales highlighting continued digital adoption and resilience.
• Shoprite — The retailer’s scale gives it exceptional pricing power with suppliers, allowing it to keep internal price inflation well below food inflation while still guiding headline earnings growth of between 5.2% and 10.2%.
• Sanlam & Ninety One — Sanlam’s sale of its investment management business in exchange for shares is framed as a strategic partnership, giving Sanlam diversification and scale through a specialist active asset manager rather than a full exit.
• Pepkor — A flat share price is described as strong relative outperformance after major competitors lost significant value, with modest like-for-like sales growth and a notable 27.9% jump in online sales highlighting continued digital adoption and resilience.
• Shoprite — The retailer’s scale gives it exceptional pricing power with suppliers, allowing it to keep internal price inflation well below food inflation while still guiding headline earnings growth of between 5.2% and 10.2%.
• Sanlam & Ninety One — Sanlam’s sale of its investment management business in exchange for shares is framed as a strategic partnership, giving Sanlam diversification and scale through a specialist active asset manager rather than a full exit.
