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S&P report: Supermarket sector suffers
A new report released Tuesday by Standard & Poor's said market share gains by nontraditional food retailers, rising costs, especially for employee benefits, and soft consumer spending have reduced stability for the U.S. supermarket industry in the past few years and these trends are expected to continue.
"Some of these trends will result in a permanent change in the competitive landscape, while others will normalize as economic pressures on the consumer ease," said S&P credit analyst Mary Lou Burde in the report titled, "New Players, Rising Costs And Soft Spending Continue To Hurt U.S. Supermarket Sector."
The challenges facing the supermarket sector impact all operators, but S&P said it believes the investment-grade credits have strong advantages over speculative-grade competitors.
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