Specialty Grocery – Where the momentum lies
In light of our Tuesday article on the slower pace for retail sales in June and the tough earnings report by Conagra on Thursday, we wanted to delve into how “advantaged” grocers were doing. (Conagra reported a segment profit decline of -10% for its May-end quarter and profits for the next twelve-month period are expected to decline another 20%-ish.) As the chart below demonstrates, these specialty grocers slowed in mid-June as well.
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