UK: More bad news for Big Food Group as Iceland’s sales fall
UK retailer Big Food Group is expected to report a fall of around 7% in like-for-like sales at its Iceland Foods subsidiary in the 13 weeks to 27 September. This is the latest in a string of bad news for Big Food Group. Back in July the company issued its fourth profit warning after Iceland's "everyday low price" strategy caused an 8% drop in like-for-like sales. Since the pricing scheme was introduced in May Iceland's profit margins have decreased by 2%. The company also warned that it would report a first-half operating loss of £8m (US$12.5m), compared to the £8m operating profit it recorded the previous year.
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 17 years of archives.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Interview: Sir Kensington's on sale to Unilever
- Interview: "Disruptive" snack brand Hippeas
- Analysis: Post discusses rationale for Weetabix
- Column: Why snacking is the new meal
- Nestle Q1 update: four things to learn
- Unilever buys US condiments maker Sir Kensington's
- Tyson shops Sara Lee bakery, Kettle and Van's
- Icelandic to sell Saucy Fish Co. owner Seachill
- Tyson to buy burger-to-entree firm AdvancePierre
- Hershey steps up work on calories