Business Services Industry
British Food Group Boss Warns of 'Tough Food Market' If Morrison Buys Safeway.
Knight Ridder/Tribune Business News, January, 2003
Daily Mail, London Knight Ridder/Tribune Business News
Jan. 11--The fiercely competitive food retail market will become even tougher if Morrison buys Safeway, warns Big Food Group boss Bill Grimsey.
He says: "Prices will come under pressure with the increased competition. We will have to respond to that."
This will be good news for customers, but could make life harder for BFG, which is trying to revitalise its Iceland supermarket chain.
A raft of promotional offers over Christmas, flagged by the "Bags More For Your Money" advert, helped stem the decline.
Like-for-like sales at Iceland fell 3.6 percent in the quarter to December, compared with 7.7 percent in the previous three months. Sales at its Booker cash-and-carry...
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