I don’t know how they think we’re all going to survive with these prices.

  • ares35@kbin.social
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    9 months ago

    somehow these poor struggling grocers can still buy one another for twenty five billion dollars.

    • Neuromancer@lemm.ee
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      9 months ago

      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.

      • ares35@kbin.social
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        9 months ago

        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.

        • Neuromancer@lemm.ee
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          9 months ago

          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.

      • kent_eh@lemmy.ca
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        9 months ago

        The point being is the cash grab is further up the line

        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.

        • Neuromancer@lemm.ee
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          9 months ago

          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.

          • redfellow@sopuli.xyz
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            9 months ago

            I also buy local and they’re thinking about calling it quits. You work all day and margins are so low, they can’t keep fixing / replacing what breaks without increasing debt.

            • Neuromancer@lemm.ee
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              9 months ago

              That is the issue he is running into. He has tripled the prices but his margin is lower than before.

              I get many people want to blame the stores but this problem is further up the chain and someone is miking the system. I have two customers who are grocery store chains and they have said, the only reason they are profitable is they can’t hire people and they have to use corporate staff to help in their stores. I know the director of security has to stock shelves two days a week.

              I am not one for the government getting in the middle of everything but they need to audit the supply chain and figure out what is really going.