I agree regarding SPAR. The equity story around the grocery side has remained difficult to understand. It has been justified to us mainly through synergies and customer behavior, the resulting business benefits of which are hard to evaluate. SPAR has also been somewhat overshadowed by DollarStore in the news. Perhaps we’ll get fresh insight from the new strategy.
In my opinion, the conclusion to sell BigDollar is a bit premature. Action is performing great, but that alone doesn’t justify Tokmanni exiting markets that Action might potentially expand into down the road. Strategically, geographic expansion is a well-founded pillar of the Group’s strategy. It enables better price competitiveness and extends the horizon of the investment case. I believe that alongside considering a sale, staying in to compete should also be evaluated as an alternative. BigDollar already operates under somewhat different frameworks, which could facilitate repositioning if it comes to head-to-head competition with Action. For instance, it has larger stores and higher-priced items.