Profits Squeezed in ’09: FMI Speaks

ARLINGTON, Va. — Food retailers suffered a decline in profitability in 2009 as many saw their same-store sales come under pressure, according to the annual Speaks industry survey research released Tuesday by Food Marketing Institute here.

Median net income for food retailers in the survey totaled just 1.22% of sales in 2009, vs. 1.43% in 2008, FMI said in the report, as same-store sales were down 0.82%. Total sales were up only 0.12%.

More than half, 56.9% of retailers,

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