Investors who watched their supermarket stocks languish for the past few years finally got some payoff in the first half of 2004. Although analysts said the competitive pressures that have plagued the industry and subdued stock valuations in recent years have not abated, Wall Street began looking a little more favorably on the industry for a change during the first half. "It's a bounce from a low point," said Andrew Wolf, analyst, BB&T Capital Markets, Richmond, Va. "Supermarkets have ...

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