Food retailers have to adapt or risk collapse, report finds
Ernst & Young (EY) published a report this week on profit warnings issued by UK-listed companies in the third quarter of 2014. The headline fact in the report was undoubtedly that this quarter saw the most profit warnings issued in the period since 2008. Food retailing played something of a starring role in the report, with 15 per cent of FTSE Food & Drug retailers issuing warnings.
EY commented in their highlights that, “the pace of structural change in the UK economy is epitomised by food retailing, currently in the midst of a generational shift in spending patterns.”
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