SAN ANTONIO — Sixty percent of food retailers surveyed said they had higher customer counts in 2012, according to a new report from FoodInstitute, although average sales growth was below inflation.
The Food Retailing Financial and Business Review 2013, released here at the FMI Financial Executive Conference, found that same-store sales increases in the industry averaged 1.6% in 2012, excluding fuel. The average was 2.3% including fuel.
However, the report noted that 72.3% of companies reported sales gains below the preliminary rate of food-at-home inflation of 2.6%.
Retailers with more than 50 stores fared much better on average than smaller operators, with average same-store sales gains of 3.9% vs. 0.9% gains for those with 50 stores or fewer. Average weekly sales per store totaled $347,815.
Looking ahead, the report found that 78% of food retailers expect their total sales to improve in 2013, and 63% expect an improvement in net income.
The report, based on data compiled by 210 Analytics from 66 food retailers, also covered a range of other financial topics, including profitability, staffing levels, shrink and capital expenditures.
Among other findings, almost all respondents — 96% — said they expect health care reform to increase their expenses in 2014, and 88% said they expect the Affordable Care Act to increase their expenses in 2013.
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