Consumer caution dents growth, shares look cheap.

Shares dropped 8% after reporting results for the September 2026 quarter.

Strong quarter yet shares remain expensive.

Improving sales trends but recovery remains gradual.

Retail slowdown clouds profit growth.

GLP-1 momentum drives earnings for narrow moat share.

Supermarket turnaround drives earnings higher.

Higher costs weigh on profits but stronger sales trends support long term outlook.

Earnings beat lifts forecasts but long term growth questions remain.

Momentum fades as consumer spending softens.