Greek Retailers Doing Well In The Face Of Increasing Competition

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In a turnaround following a difficult start to 2005, Delhaize-owned Greek retailer Alfa Beta Vassilopoulos posted a consolidated after tax profit of EUR1.5mn (US$1.8mn) for the first quarter of 2005, following an after tax loss of EUR400,000 (US$497,184) in the first quarter of 2005. Turnover for Q1 rose to EUR235.8mn (US$283.4mn) from EUR215.2mn (US$267.4mn) year-on-year. In order to remain competitive in the difficult Western European mass grocery retail (MGR) markets, the Delhaize group has entered price wars with its competitors and introduced more of its own private label brands, a strategy which seems to have worked. The company plans to