JSNSF - Sainsbury: It's Hard To Get Too Excited
- Sainsbury is one of the largest grocery chains in the UK.
- Retail sales enjoyed a nice boost last year due to COVID, though transient headwinds on the cost front meant that didn't translate into profit growth.
- Profit should more than rebound in the current fiscal year, although the trading environment is still very tough thanks to hard discounters like Aldi and Lidl.
- The stock was up around 60% in the past 12 months, and investors can afford to wait for a more attractive valuation.
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Sainsbury: It's Hard To Get Too Excited