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Article: Big Food Group interims put independence in doubt.
- Article from:
- Sunday Business (London, England)
- Article date:
- October 6, 2002
CopyrightCOPYRIGHT 2002 Sunday Business Publishing. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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QUESTIONS over the viability of the Big Food Group as an independent company will increase when it reports a fall in like-for-like sales figures in a second-quarter trading statement on Wednesday.
The company is expected to report a slide of about 7% in like-for-like sales in the 13 weeks to 27 September at its Iceland Foods business, and will warn that margins are under pressure from price wars triggered by other supermarkets.
The figures will be a severe blow to chief executive Bill Grimsey, who had vowed to halt the long-term slide in Big Food Group sales by this month.
Big Food shares had recently been boosted by reports that it had been ...