Coles (WOW & MTS)

Why are the supermarket share prices not that far off 1 year lows?

Even when times are tough, people still need to eat and buy a lot of the other products these retailers sell eg toilet paper, tooth brushes etc etc

I hold COL and MTS and am just surprised that the share prices are not doing better - that includes WOW too

I could understand HVN being hit as a lot of spending in his stores is discretionary

Obviously ALL major stocks are down from their highs in January this year, but don't get why supermarket stocks are struggling

I know supermarkets are not as sexy as Lithium etc, and don't get too much attention, but would be interested to hear other people's thoughts

Cheers

GF