Retailers are dampening food price growth
Retailers are dampening food price growth, says Samo, an alliance of Tesco, Lidl, Kaufland, Billa, Metro and Terno RE. It says purchase prices from suppliers went up by 17.5% last year, but retailers increased their prices by only 16.2%. Retailers’ profits suffered as a result, but so far only Terno RE has published results (its EBITDA fell from €3.5m to €2.5m). Slovaks are reacting to rising food prices by shifting to cheaper private labels; their share rose 1.2 points last year.
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