Lifestyle remodels have clearly provided a short-term boost for Safeway shares. But we firmly believe that pricing is a much more relevant structural issue in the grocery industry. Safeway must permanently lower its pricing.
We think investors should be buying Kroger all day long. Kroger has undeniable top-line momentum that reflects growing share in a mature industry.
It's a smart move for Supervalu, and a good move for Albertson's.
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