The food retail chain said yesterday’s announcement of its decline in sales growth could be put down to squeezing by the larger retailers, according to newspaper reports.
It also believes that pressure would be further increased by Sainsbury management changes and Morrison’s takeover of Safeway.
First quarter like-for-like sales for the group fell 0.5% in the 13 weeks to July 2, with Iceland sales dropping to 1.7%.
Iceland has recently been expanding beyond its frozen food focus and has attempted to tap into the convenience store market.
Sales at the refit stores have been increasing but the it may have a lengthy refurbishment programme ahead for its other stores to catch up.