Blue Square Feels The Pinch Of Rising Costs

Israeli retailer Blue Square has announced its 2007 results, which reveal a drop in operating income despite its turnover and gross profits rising. Operating income was ILS300.7mn (US$85.5mn), representing a fall of 1.5%, while gross profit rose 8.9% to ILS1.9bn (US$543mn) and turnover was up 7.2% to ILS7bn (US$2bn). Blue Square has said that higher costs are to blame for this negative impact on annual earnings. These results come as bad news for the company, not only in and of themselves, but also because its key rival, market leader Super-Sol, had recently announced strong growth in profits and sales. With

To read the full article, please choose one of the following options: