Netherlands-based retailer Sligro Food Group has seen first-quarter sales growth at its food retail business trail the market amid intensifying price competition.
In the first quarter of 2014, Sligro said food retail sales fell 4.4%, while consumer sales at its Emte supermarkets dropped 2.7% in the period.
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While Sligro flagged issues such as new VAT rules on tobacco products, the company conceded sales growth at its supermarkets was around 1.5% below market growth.
Sligro said the result was impacted by tough year-on-year comparables as the group lapped “high growth figures” for the first quarter of last year. “The intensified price competition experienced in the fourth quarter of 2013 continued in the first quarter of this year,” Sligro added.
The company said total group sales increased 0.6% in the period, climbing to EUR592m (US$820m). Organic sales were flat. Sligro estimated the late Easter reduced sales in the period by around 1.5%.
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By GlobalData
