Supermarket Stocks: Bracing for Impact? ARDNA, SVU, RDK, TFM, WMK, IMKTA
Last Friday, I wrote about how supermarket stock The Fresh Market (NASDAQ: TFM ) had plunged on Thursday after beating Wall Street estimates while competitors Weis Markets (NYSE: WMK ) and Ingles Markets (NASDAQ: IMKTA ) were holding steady and hence, its worth taking a closer look at three more supermarket stocks: Arden Group (NASDAQ: ARDNA ) , SUPERVALU Inc. (NYSE: SVU ) and Ruddick Corporation (NYSE: RDK ) . Specifically, The Fresh Market plunged $4.64 or 11.71% despite reporting reporting higher revenues and higher margins while supermarket stocks such as ARDNA, SVU and RDK would be facing the same cost pressures along with a weakening economy that TFM faces. Hence, supermarket chain stocks such as ARDNA, SVU and RDK are well worth taking a closer look at as these stocks could also face a heavy correction in the coming months:
Arden Group (NASDAQ: ARDNA ) operates 18 supermarkets in Southern California under the Arden-Mayfair and Gelson’s Markets brands plus owns certain real estate properties through its Mayfair Realty, Inc. real estate subsidiary. The Arden Group recently reported that same store sales decreased by 0.6% for 1Q2011 when compared to 1Q2010. The Arden Group also noted that operating income has been negatively impacted since March 2010 by an increase in the health and welfare contribution rate for company’s union employees who make up a majority of the workforce. Specifically, ARDNA’s contribution has increased to the maximum allowable rate set by the collective bargaining agreement and this has resulted in an additional expense of approximately $74,000 per week while the contribution rate further increased by about $11,000 per week in February 2011. The Arden Group recently closed down $1.74 (1.99%) to $85.88 and has a 52 week trading range of $74.15 to $98.39 a share. Investors should also note that ARDNA pays a dividend of $1.00 for a 1.20% dividend yield. SUPERVALU Inc.Arden Trading Corporation - News
Nick Bubb at Arden said: Poor old SuperGroup has been massively de-rated, to allow for the risk that the brand has lost its edge, so that it is now trading on under 15 times the current year, even though it should still be growing earnings per share at
The Arden Group recently closed down $1.74 (1.99%) to $85.88 and has a 52 week trading range of $74.15 to $98.39 a share. Investors should also note that ARDNA pays a dividend of $1.00 for a 1.20% dividend yield. SUPERVALU Inc. (NYSE: SVU) operates
“The bears got very excited on Friday about the news that online customers of Superdry got a voucher for 20pc off everything in-store at the weekend, despite the long-standing policy of not discounting,” said Nick Bubb, an analyst at Arden.
Arden Partner's Nick Bubb believes the DIY chain will have seen its like-for-like sales rise between 1 and 2 per cent, although the analyst does point out that it represents only a small part of the company. He says Argos, however, has "big structural
Anglo-Indian broker Arden Partners rose 16.9 per cent to 69p after it said full-year earnings would be significantly ahead of market expectations, assuming current trading remains strong and the corporate finance pipeline is delivered.
Investegate |Arden Partners plc Announcements | Arden Partners plc ...
In the first six months of the current financial year, the Company has seen a strong performance both in its core UK business and Indian franchise. The corporate finance pipeline is good but as always delivery is dependent on market conditions. Should the Company continue trading at current levels, and assuming the pipeline can be delivered, it is likely that the pre-tax profit for the year ending 31 October 2011 will be significantly ahead of current market expectations. The balance sheet remains strong with good cash balances.
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