17:06 PM
A year after many investors fled to the safety of grocers, some of those investments - including Great Atlantic & Pacific Tea Co. (GAP -0.3%) and Supervalu (SVU -1.6%) - are smelling a little ripe. Maybe the food play is played out.
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09:47 AMSuperValu (SVU): FQ2 EPS of $0.35 beats by $0.02. Revenue of $9.46B (-7.5%) vs. $9.65B. Shares +0.3%. (PR)
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09:49 AM
"The Food Retail group's value trap designation has been well earned," Pali Research writes this morning, dropping shares of Great Atlantic & Pacific Tea (GAP -7.7%) and SuperValu (SVU -3.6%) to Sell. Investing in grocery stocks based on inflation expectations "represents 'greater fool' investing at its best," firm says.
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Tuesday, July 28, 2009
08:14 AMSUPERVALU (SVU): Q2 EPS of $0.55 beats by $0.02. Revenue of $12.7B (-5%) vs. $12.8B. (PR)
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