Smart & Final Stores (SFS) Misses Q1 EPS by 1c

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Piper Jaffray Remains Bullish on Smart & Final Stores (SFS) Despite Cannibalization and Deflation

May 4, 2016 9:08 AM EDT

Piper Jaffray maintained an Overweight rating on Smart & Final Stores (NYSE: SFS), and cut the price target to $18.00 (from $19.00), following the company's 1Q earnings report. Same store sales were impacted by 90bp of deflation and cannibalization of ~120bp. Overall comps were up 2% driven by a 2.4ppt increase in transactions and a 40bp decline in... More