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By Catherine Douglas Moran
Source: Grocery Dive

  • After spiking during the pandemic, profit margins and same-store sales growth have fallen back to pre-pandemic levels for the grocery industry, FMI — The Food Industry Association said in a report released last week.
  • Only 38% of surveyed food retailers said they expect their same-store sales to grow in 2024 while just 13% predict net profits will increase, according to the trade group’s The Food Retailing Industry Speaks 2024 report.
  • Food retailers are focusing on improving cost controls and cutting unnecessary expenses that do not drive value, FMI found.

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