Pick n Pay plans to cut prices to the value of R500-million on 1,300 items. Image: KEVIN SUTHERLAND
Pick n Pay plans to cut prices to the value of R500-million on 1,300 items. Image: KEVIN SUTHERLAND

Steven Schultz from Momentum chose Pick n Pay as his stock pick of the day.

“I’m going for Pick n Pay, it has derated quite sharply since 2018 and nearly halved in price over the past two years. It also cut dividends to preserve cash, which I suppose isn’t to unique in this environment, but we expect earnings to bottom out this year before rebounding fairly slowly.”

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