Blue Square Bounces Back

Leading Israeli mass grocery retail (MGR) operator Blue Square has seen its first quarter profits rise on the back of higher sales and a revaluation of its real estate holdings. The country's number-two food retailer recently announced that revenues rose by 7.5% to ILS1,821mn (US$517mn), while gross profit was up by 13.5% to ILS504mn (US$142mn). These results are particularly welcome news following its 2007 results, which revealed a drop in operating income despite its turnover and gross profits rising. Blue Square has said that it will continue to experiment with different store formats and concepts as a means of achieving

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