June 2009 quarter is when things really started to decline. I've never heard anyone explain what it was that resulted in the acceleration of sales declines. I know it started soon after Herkert came on board in June 2009 quarter.
We know the economy didn't suddenly decline at the start of 2009 so it wasn't a cyclical issue.
Something real changed and I don't think it was a one-time pricing adjustment as the declines have been going on for about 18 months now. It looks like an on-going change in their competitive position but their disclosures are so poor that I have no idea what it is.
Should have taken a short position after the trend hit 15 months but I didn't. Oh well. If they report same store sales declines again this quarter I will not make the same mistake.
Bought a turkey in Walmart last week for .68 lb. I went in to Albertsons this morning and theirs were still there marked $2.49lb. What is wrong with this picture? For those who don't know. Albertsons is owned by Super Value.
R U 4 Real? IF you really need a road map to show you the path to sales decline-here it is- a) industry changing faster than ever before b) new niche players-beating the traditional grocers who try to be all things to all shoppers (offering less value than ever) c) SVU by far the weakest traditional grocer-KR and Safeway doing better d) poor ops-if you are running further behind the other major grocers-kinda hard to blame it all on the economy (look in the mirror time?) e) Decisions being made on how to run stores from 1000's of miles away-what locals areas have in common with those far away-not much. f) pay is no longer tied to performance- ol Joe Albertsons didnt pay 100's of millions in bonuses because he was a nice guy (which by the way he was) -he did it to make billions.