ICCGF - ICA: More Swedish Groceries At Overvaluation
This article is an update on ICA-Gruppen (ICCGF), Sweden's (by some measures) largest grocer. Together with Axfood (AXFOF), the company has come to more or less dominate the market across the entire nation. The companies are quite different in their corporate structure, with ICA essentially being a franchising organization and Axfood being more traditionally structured/capitalized.
Both, however, are highly profitable and worth owning, but only at the right price. Unfortunately for us, that price isn't available/possible at this time. The current company valuation is historically atypical at current heights.
Let's review