By Madeleine Ngo
Source: The New York Times
Large grocery retailers took advantage of supply chain disruptions to beat out smaller rivals and protect their profits during the pandemic, according to a report released by the Federal Trade Commission on Thursday.
The report found that some large firms “accelerated and distorted” the effects of supply chain snarls, including by pressuring suppliers to favor them over competitors. Food and beverage retailers also posted strong profits during the height of the pandemic and continue to do so today, casting doubt on assertions that higher grocery prices are simply moving in lock step with retailers’ own rising costs, the authors argued.
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