Asma Usmani
Asma Usmani
both chains companies concerning consumer date drugstore fear grocery impact industry interest money moving percent rates seeing staple though year
Even though Albertson's down and the index is down from the 52-week high. Year to date, both the grocery industry and the drugstore industry are actually up. Year to date the grocery industry is up 9 percent and the drugstore industry is up about 12 percent and we've been seeing a lot of fear in the marketplace concerning interest rates and impact this will have on consumer spending. Consequently, there's been a lot of money that's been moving over to some of the staple companies like grocery chains and drugstore retailers.
above business card credit earnings felt impact listened mitigate negative performing retail
When we listened to the third-quarter earnings (report), their credit card business was performing above expectations and they felt that that was going to mitigate the negative impact they were experiencing from their retail operation.
buying company earnings encourage excessive given great growing investors longer next nine saw stock ten term today trading
We think the sell-off that we saw in Albertson's was excessive just given the sell-off, the stock today is trading at nine times and ten times -- ten times this year's earnings or nine times next year's earnings and this company longer term is growing their earnings 12-to-13 percent. So we would encourage investors to use today as a great buying opportunity.