AUSTRALIA'S FRANKLINS MARKET SHARE DIPS

SYDNEY (FNS) -- Australia's third largest supermarket, Franklins, has lost more of its food market share, but managing director Ian Cornell has expressed confidence the chain will be able to halt further declines.Cornell revealed that Franklin's share of dry packaged groceries fell from 13.4% to 12.7% during the last quarter, and down from 15% in 1996-97. Those declines follow in the wake of new store

SYDNEY (FNS) -- Australia's third largest supermarket, Franklins, has lost more of its food market share, but managing director Ian Cornell has expressed confidence the chain will be able to halt further declines.

Cornell revealed that Franklin's share of dry packaged groceries fell from 13.4% to 12.7% during the last quarter, and down from 15% in 1996-97. Those declines follow in the wake of new store openings by the other two leading supermarket chains, Coles and Woolworths.

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