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Because of bad reputation among investors, Woolworths shares, albeit posting healthy profits, trade at a discount to peers.

In the recent years, a disastrous capital hike, an expensive foray into various businesses and uncertainty about the reason for a share buyback have left investors bewildered.

The main problem for this is the past.

Many investors have been disappointed and frightened away for such unstable signals.

The shares are traded at about nine times this year’s estimated earnings, compared to Coles’ 19 and are the second cheapest in the sector.

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