Supermarket stocks may lose some shine in Covid endemic phase
But some see food stores as low risk, safe investment havens, offering strong income returns in longer term
Add BT as a preferred sourceClaudia Tan HS
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Singapore
SUPERMARKETS had been among the biggest Covid-19 pandemic beneficiaries as shoppers rushed to stock up on groceries and cooked at home more often than before. But as Covid-related restrictions are lifted, the exuberance over supermarket stocks could recede.
Last year, shares of Singapore-listed Sheng Siong Group and Dairy Farm International Holdings gained 50.5 per cent and 12.7 per cent respectively, from the Mar 23, 2020 market low. But this year, Sheng Siong has fallen 3.2 per cent while Dairy Farm is down 18.9 per cent.
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