I wasn't disappointed with the update I just felt it contained a lot of commentary as to what happened & smelt of well it wasn't our fault bla bla but as you can see 2nd half was much better. .but 1st half was shocking & yes it was your fault. You lost market share because of it. Same store growth wasn't there...growth is coming from new stores & another 80 or so to come next year. Eventually you saturate the market then operational costs eat into bottom line. Capitalist growth for growth sake...In most metropolitan areas you can in 5mins choose between 3-4 outlets..
Their push into Africa I can't get behind far too risky & how many home grown execs want to be seconded into Nigeria/Zambia(who've just confiscated a copper mine from Anglo's largest shareholder) or Angola...? Tiger Brands couldn't get their guys/gals to go sort out their Nigerian Dangote disaster.
The Christo Weise share saga still outstanding.
I agree New John with the corner superette idea.
I'm not against Shoprite I believe they're a fantastic company Maybe I just miss Whitey Basson's hand on the tiller, I doubt the new IT system bomb out would have been as big on his watch...?
CW saga yes..... I cannot fathom how that one failed so miserably. Makes you wonder if SHP even thought they had a chance?
Expansion into Africa, my way of thinking is, if anyone can pull it off, its only Shoprite out of the big four. That's obviously not reason enough for it to succeed however the board knows how to deal in Africa as opposed to Carrefour or any other potential suitors.
I honestly feel the general trading public just doesn't realize what a monumental task the SAP changeover was and what effect it had on bottom line. ENTIRE stores were empty for days at a time. The entirety of the logistics and dispatch operations were chaos for the better part of 6 months. The constant pointing towards the IT debacle is not there to cover up a more sinister underlying issue, it WAS the issue.
As for Mr Basson vs Mr Engelbrecht, well time will indeed tell. However whilst Whitey had the retail know how, I feel Engelbrecht has the ability to take the group into the future.
Nowadays every company is a tech company first and industry second.
But yeah, I'm a SHP fanboy (can you tell) and I honestly struggle to find too much reason, other than macro related issues, for this company to whither away.
Edited by new john, 01 August 2019 - 02:27 PM.