Along with a lackluster performance, the grocer cancelled its dividends and withdrew its outlook for the year. These are indications enough for a weak and a drowning company. The company has not been able to adapt itself with the changing needs of customers leading to a loss in sales. Its mismanagement of costs has also been a matter of concern.
Additionally, it has been falling weak against competitors. I believe there are no hopes for the company even though it has been shrinking its size in order to become efficient. A prudent investor will always stay away from such a retailer.