Lifestyle remodels have clearly provided a short-term boost for Safeway shares. But we firmly believe that pricing is a much more relevant structural issue in the grocery industry. Safeway must permanently lower its pricing.
It's much harder for them to all win at the same time. They all kind of grew together and the market has slowed a little bit.
It's a smart move for Supervalu, and a good move for Albertson's.
We think investors should be buying Kroger all day long. Kroger has undeniable top-line momentum that reflects growing share in a mature industry.