For many of Britain’s supermarkets, it’s been a far from joyous New Year.
With sales faltering and a string of store closures the axe has fallen again this week, with Tesco announcing as many 9,000 job cuts on Monday.
High fixed costs and aggressive competition from budget chains like Lidl and online rivals is creating a perfect storm for grocery chains. As supermarket executives seek to embrace the Internet as the path to future prosperity many are puzzling over some tough questions.
