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Thursday, 9 January 2014

Supermarkets feeling the pinch after years of "plenty"

 Morrisons, Tesco, Marks & Spencer Sales Hit By Tough Christmas

Who next?

Following on from the "Years of plenty" when these supermarkets, particularly Tesco, were proudly announcing "record profits" running to £ Billions, I for one have little sympathy for the decline in their fortunes. It seems to me that the general downward trend in the high street and supermarkets fortunes has more to do with their previous profiteering and greed, forcing up prices at the expense of their customers and their suppliers. Now is the time for these companies to recognise that their prices are too high and have been for some time which is the predominant reason why people are now cutting back on their shopping expenditure. The supermarkets can join the rest of us and experience a dose of "austerity".