The point being is the cash grab is further up the line. If it was the grocery stores, we’d see margins increasing. Food has doubled to tripled in many cases and their margins went down.
I buy beef from my local farmer. His cost of went up and his prices have adjusted. He’s 3x more expensive but about about to quit because he can’t turn a profit.
Margins are down.
https://www.reuters.com/business/retail-consumer/albertsons-beats-profit-revenue-expectations-strong-demand-groceries-2023-07-25/
. So it isn’t the stores gouging you. Somewhere in the chain. Someone is though
somehow these poor struggling grocers can still buy one another for twenty five billion dollars.
That’s all debt. That isn’t from profits.
Their margins are low and declining.
The point being is the cash grab is further up the line. If it was the grocery stores, we’d see margins increasing. Food has doubled to tripled in many cases and their margins went down.
overall sales are up, prices are waaay tf up.
gross margins are down slightly, but they’re taking that 27.7% (vs 28.1%) from a larger pie.
profits are up.
Grocery has some of the lowest margins of any industry. It’s not your local store milking you and I doubt it’s the local farmer.
It’s certainly not the farmers getting paid more.
If anything, the agrifood business that they sell to are pushing the farm gate price down, while at the same time input costs continue to rise.
I buy beef from my local farmer. His cost of went up and his prices have adjusted. He’s 3x more expensive but about about to quit because he can’t turn a profit.
Tell that to the billionaires who’s net value doubled in 12 months.
What grocery billionaire are you referencing?