Today I thought I would briefly cover what may be a contrarian value opportunity or may be I'm off my trolley and it is a value trap? Any way I'll present a few bull and bear bullet points and let you decide for yourself.
Any way as ever you pay your money and take your choice. As I have had no Food retail exposure to speak of since selling out of JS and Tesco before all the recent turmoil I have decided to take a small stake in this one as it seems to offer value and has managed the decline quite well. I'm sure I may live to regret that as it is going against my own Scoring system although I note it does Score 93 on the Stockopedia Stock Ranks.
The final prompt for me to get involved again was that this should be a relatively defensive sector if we are heading for a recession, although they have just gone more heavily into general retail with the Argos acquisition. Plus I like the look of the long term chart and possible support in the low 200's (see chart at the end).
So there you go, as ever time will tell and you pay your money and take your choice or not as the case may be.