Israel's largest supermarket chain Super-Sol has reported on a weaker set of results for the opening quarter (Q1) of 2012, with profit falling to ILS38m from ILS55m in the same period of 2011.
The group attributed the decline to a drop in prices, the result of consumer protests and boycotts in the country and rising expenses, Reuters reported.
Revenue for the opening three months actually increased, by 0.5 per cent to ISL2.8bn.
As it looks towards the future, Super-Sol said that it would look at ways that it could cut costs, which may include reducing the size of its workforce.
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