|DON'T BUY||$15.580||UNKNOWN||CANADIAN & FIXED INCOME||No|
He doesn’t like falling knives. This one has been a train wreck. They bought Safeway Canada stores about 2-3 years ago, and bungled it spectacularly. They overpaid and over promised. This was at a time when the grocer consumer was becoming more and more price sensitive. Grocery stores have very high operating leverage. As much is their sales are falling, their earnings are falling off a cliff. A big massive beast and is not going to turn around on a dime.
Senior VP & Portfolio Manager, Goodreid Investment Council