News Column

BRIEF: Shufersal mulls streamlining plan due to sales slowdown

June 10, 2014

By Nadav Neuman, Globes, Tel Aviv, Israel



June 10--Supermarket chain Shufersal Ltd. (TASE:SAE) is mulling a comprehensive streamlining plan that will include introducing a new pricing policy for products, closing down small branches and other cost cutting measures. The company said that it is considering the plan due to a slowdown in sales.

In the first quarter of 2014 Shufersal's net profit plunged 42% to NIS 32 million.

If the Shufersal plan is approved it will involve a new pricing policy that includes lowering some prices while cancelling discounts to certain population sectors and loyalty club members.

The plan also includes loweing staffing levels through an early retirement program but management insists that nobody will be forced to leave.

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(c)2014 the Globes (Tel Aviv, Israel)

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Source: Globes (Tel Aviv)