City Markets' shrinkage three times sector norm

Sun, Aug 29th 2010, 11:00 PM

By NEIL HARTNELL

Tribune Business Editor

TROUBLED supermarket chain City Markets is continuing to incur "substantial" costs as a result of inventory 'shrink' levels that are running three times' ahead of international industry norms, the company's chief executive has warned.

Adding that some jobs among the company's 700-strong workforce may be affected as the company bids to return to profitability by controlling and managing its operating costs, Derek Winford described inventory shrinkage - the loss of product to theft, spoiling and other factors before it hits the shelves - as a "daunting problem" facing City Markets.

"We know that 'shrink' ...

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