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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Larry S. who wrote (15907)12/7/2002 12:35:18 PM
From: Joan Osland Graffius  Respond to of 78719
 
Larry,

I have not invested in grocery stores/food distribution companies in the past and do not have a good understanding of normal debt levels. Supervalue seems to have somewhat of a distribution monopoly here in Minneapolis which makes the company interesting. In this environment the two items I worry about are debt and pension plan problems. The PE of 9 seems reasonable. I do not know what interest they are paying on their long term debt, but if their credit is good they could refinance the debt which could be an opportunity.



To: Larry S. who wrote (15907)12/7/2002 12:46:23 PM
From: Joan Osland Graffius  Respond to of 78719
 
larry,

A couple of weeks ago I had a conversation with one of the grocery store managers here in Minneapolis. This grocery store is locally owned and services the higher end communities in the twin city areas. I was looking for a premium item that they had taken off their shelves and he was telling me the customers have changed their buying habits and they were carrying the lower cost items. This information is consistent with the press release you posted.


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