Breadwinners and losers in supermarket war
Heinz and Goodman Fielder blaming losses on the price war between supermarket rivals Woolworths and Coles, Ian Verrender reports:-
FOR the second time in as many months, global food manufacturer HJ Heinz has publicly slammed the dominant market power of Coles and Woolworths for fostering an ''inhospitable environment'' for suppliers.
Addressing a briefing of US analysts to discuss the company's first-quarter earnings, the chief financial officer and executive vice-president, Arthur Winkleblack, singled out the Australian supermarket sector as difficult, laying the blame for an erosion of its margins at the feet of the two biggest players.
''This is, as many of our peers have talked about, a very difficult environment,'' Mr Winkleblack said.Read more: http://www.smh.com.au/business/heinz-blasts-supermarket-power-20110829-1jie4.html#ixzz1WUzc716U