CHRIS GILMOUR: Pick n Pay’s purple patch may be ending as Shoprite rises
It is disappointing to learn Richard Brasher's contract as Pick n Pay CEO has been extended only until 2022
Pick n Pay and Shoprite Holdings recently released trading updates to the end of June 2020. In Pick n Pay’s case, it was a four-month update, whereas with Shoprite it was for the 2020 financial year. While the market undoubtedly liked the Shoprite update, it wasn’t so keen on Pick n Pay’s.
But on balance, it appears as if Pick n Pay’s purple patch, characterised by CEO Richard Brasher’s seven years at the helm, may be about to end, while Shoprite’s hiccup of the past couple years appears to have been resolved. ..