'It's definitely not best of breed, but it's not garbage either,' the 'Mad Money' host said.
on Wednesday said that Albertsons, the U.S. grocery operator making its third IPO attempt, is worth owning if investors can get the stock at the right price.
He noted that Albertsons improved its balance sheet, where debt was cut from almost $12 billion in 2015 to $8.7 billion; installed a new CEO in Vivek Sankaran, who previously headed PepsiCo's food business in North America; and added delivery services at most of its roughly 22,520 stores. "All these moves are working. After years of stagnating, Albertsons' sales grew by more than 3% last year" including "2% same-store sales growth. Big improvement over where they were," he said.
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