The market in 2023 might be trading sideway. My AXS stock pick will be $Coles Group(COL.AU)$. Coles shares are up more than 30% over the past five years. The company is one of the country’s largest operators of both supermarkets and liquor retailing and it now has more than 2,500 outlets open across Australia.
Despite its 5% share price slip year-to-date, after-tax profits rose by 4% during the FY22 year to AU$1 billion. Further profitability could be found as consumers cut back on hospitality spending, a fact not lost on Coles, which expects consumers to turn to its value offering to protect themselves from the ravages of inflation. Its healthy balance sheet and strong defensive qualities mean its shares could rise to further in the medium term, while simultaneously increasing its dividend pay-out. @Tiger_AU