We still see the shift to food at home consumption for longer, but investors need to be more discriminate on the companies. 2020 is a record year for the grocers, but we have come to the conclusion that the market does not care, so we are looking out to 2021. 2021 has different headwinds and tailwinds that we went through in detail in our presentation.
We lowered Sprouts Farmers Market (SFM) from a Best Idea Long to Long Bias and added Kroger (KR) as a Best Idea Short. Grocery Outlet (GO) and Albertsons (ACI) remain Best Idea Longs.
Consumer Staples Subscribers CLICK HERE for event replays (includes video/audio and materials link).
A summary of our changes is as follows:
