Market Wrap - Stock Pick — Shoprite
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Grant Gilburt from Nedbank Private Wealth talks to Business Day TV about his stock pick.
"Stock pick amidst it all is Shoprite, we've seen it setting off quite a lot post the results, but I think in those results we saw a lot of once offs. There was a big strike at the distribution center that had a big impact on the stock. We've also seen the cost of implementing a sub program being far above what they were expecting. So, I think this is a good opportunity to buy the best-in-class food retailer that we have on the market. I don't think the African businesses will contribute much in the short term so, I think for now we really need to see the economy picking up and I think Shoprite will do very very well then."
"Stock pick amidst it all is Shoprite, we've seen it setting off quite a lot post the results, but I think in those results we saw a lot of once offs. There was a big strike at the distribution center that had a big impact on the stock. We've also seen the cost of implementing a sub program being far above what they were expecting. So, I think this is a good opportunity to buy the best-in-class food retailer that we have on the market. I don't think the African businesses will contribute much in the short term so, I think for now we really need to see the economy picking up and I think Shoprite will do very very well then."
