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.