WASHINGTON -- Supermarket industry profits dropped slightly in the 1998-99 fiscal year -- falling to 1.03% from the prior year's record high of 1.22% -- according to Food Marketing Institute's Annual Financial Review. lt of advances in technology, cost reductions and improvements in operating efficiency. The performance was especially significant, it said, "because of the substantial investments in property and equipment during this period, (with) such expenditures contributing to mixed ...

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