date:Jul 10, 2012
Following calls from broker ING last week for Tesco to cut its prices to stop customers switching to Asda, Dave McCarthy of Investec told FoodManufacture.co.uk that the UK food retail sector was now instructural decline.
He predicted that the profitability which it has enjoyed during recent years will not last for the foreseeable future.
The market was seeing falling volume sales and the supermarkets could no longer command the same sway over food manufacturers, he said. The change reflected