Sounds great...but where do you guys get these numbers? The goodwill has all been written off. And the assets, including real estate, were revalued at market, when SVU bought Albertsons at the peak of the market in 2006, were they not?
Wouldn't this suggest that assets are overstated on the books, and that the only thing to "defend" the values is the necessity that they maintain the cash flows....and that if they don't, there will be write downs.
I own the stock, and I think it is marginally attractive, if quite risky (with the new everyday low strategy). I'm not trying to "knock it down." Just trying to understand it.