FRENCH OPERATORS SHINE AS U.K. CHAINS STRUGGLE

Food retailers in the United Kingdom are feeling the effects of competitive pressure and low inflation.This is most notable in the declining gross-profit margins the two largest U.K. chains reported in their recent year-end 1993 financial results.J. Sainsbury, the largest retailer in the United Kingdom, saw its gross-profit margin decline by about 40 basis points in the year ended March 12, according

Food retailers in the United Kingdom are feeling the effects of competitive pressure and low inflation.

This is most notable in the declining gross-profit margins the two largest U.K. chains reported in their recent year-end 1993 financial results.

J. Sainsbury, the largest retailer in the United Kingdom, saw its gross-profit margin decline by about 40 basis points in the year ended March 12, according to Tony MacNeary, a securities analyst at County NatWest, London, who follo

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