Frozen food chain Iceland reports 'challenging year'
- Published
Iceland chief executive Malcolm Walker said it had been a challenging year for the UK food retailing industry
Flintshire-based food chain Iceland has reported a "challenging year", with earnings falling to 拢150.2m down from 拢202.2m the previous year.
Figures released on Wednesday show like-for-like sales up to 27 March were down 4.4%, partly due to the effect of stocking new stores.
Iceland opened 28 new stores in the UK and Ireland during the year.
Chief executive Malcolm Walker said: "This has been an exceptionally challenging year for the group."
He added: "In the face of food price deflation, intense competition and significant change in consumers' shopping habits, Iceland has continued its long tradition of successful reinvention.
"We have done this by developing a new store format, launching new product ranges, upgrading packaging, rethinking marketing and initiating a major productivity programme."
Iceland employs 24,000 staff in 859 stores across the UK.
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