Given the competitive pressures the grocery sector is facing and the difficulties most, often debt-laden, supermarket groups have in boosting sales and profits, it is tempting to simply avoid these stocks altogether.
However, there is a buying opportunity in WM Morrison, the Bradford-based grocer, whose shares have fallen 16 per cent in the past three months, from 253p a share on August 23 to 215¾p.
Now is the time to get in on a grocer whose management has not put a foot wrong as it has gone about turning round Morrisons over the past two years. There is a still a long way to go but the efforts made so far are clearly starting to pay off.
Morrisons recorded its eighth consecutive quarter of