Letter: Supermarket profits

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The Independent Culture
Sir: Bill Robinson's article (Business Review, 14 April) is principally concerned with justifying the excessive profits of the supermarket chains on the grounds that food retailers need excessive profits to innovate. The margins of continental European food retailers are substantially less than those of their UK counterparts. Give me their prices and lack of innovation. The best incentive for innovation is competition, not excessive profits.

BOB ESCOLME

Arundel, West Sussex

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