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.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Why personalisation will take-off in US food
- General Mills sales woes continue - analysis
- US food next wave on display at Winter Fancy Food
- Comment: Meal kits in US - don't believe the hype
- Column: Kraft Heinz, Unilever and sustainability
- Unilever 'lining up spreads sale'
- UK own-label firm Park Cakes sold in MBO
- Immigration crackdown "risk" for US dairy industry
- BRF plant suspended amid bribery allegations
- Fonterra cuts earnings forecast