Industry Sales Match Inflation; Profits Spike: FMI

Supermarket companies grew their sales by about 4.6% in 2007, same-store sales grew 4.2%, and net income hit a record high, according to the annual Food Marketing Institute Speaks survey presented at the FMI Show yesterday.

LAS VEGAS — Supermarket companies grew their sales by about 4.6% in 2007, same-store sales grew 4.2%, and net income hit a record high, according to the annual Food Marketing Institute Speaks survey presented here at the FMI Show yesterday. The 4.2% same-store sales figure matches the growth in food-price inflation for the year. Profits were the highest the survey has ever recorded, however — at 1.91%, according to data from FMI’s Annual Financial Review. The review also found that 86% of res

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