Investment Thesis
Loblaw (LBLCF) [TSX:L] delivered an unimpressive quarter with flat food retail same-store sales growth. The company has several growth initiatives such as its micro-fulfillment centre, PC Express Checkout, etc. These initiatives should create shareholder value in the long term. Given the fact that its shares are only slightly undervalued and that food inflation remains modest, we think investors may want to wait for a better buying opportunity.
Data by YCharts
Recent Developments: Q3 2019 Highlights
Loblaw delivered an okay quarter with 2.3% revenue growth in Q3 2019. Its EBITDA increased significantly by C$432