Supermarkets fear slump in year's second half

Officials at supermarket chains and their suppliers are anticipating a considerable drop in sales in the second half of the year due to the Greek economy's entry into a new cycle of deep recession.

The decline in turnover is expected to be so dramatic that it will practically offset the gains the sector's enterprises have secured this year, especially since late February, which means that 2020 will likely end on a par with 2019.

Supermarket chains, especially those that also have a cash-and-carry network, are suffering significant losses from the suspension of operations in the tourism and food service sectors, which are the main clients of cash-and-carry outlets.

These are the main conclusions of the latest survey by the Research Institute for Retail Consumer Goods (IELKA) that records the views of business officials in the sector. The survey took place...