date:Dec 10, 2013
iness models remain challenged, particularly Tesco, which faces intense pressure from both the high and low end of the retail spectrum in the UK, after years of market dominance.
We believe food retailers will start to see the benefits from several years of cost-cutting and restructuring in 2014, offsetting the impact of price promotions and regular discounting. This should keep margins steady, although they will still be slightly below pre-crisis levels. For non-food retailers, where the outlo