Founder Sir Malcolm Walker has handed the reins over to his son Richard, and the new managing director has ambitious plans for the chain, starting with new stores and new products.
Efforts to drive down costs, find a new restaurant-style chip in Belgium, the launch of Food Warehouse, investigating a sea bass farm in Turkey and a new range of frozen fresh pasta and sauces.
The battle for the booming vegan market heats up. There's a trip to Italy for some ice cream tasting in the name of research. And some environmentally-friendly packaging is tested for fruit and veg.
With festive ads and a plush dessert made of five gold rings, Iceland is getting in on the Christmas act in a big way.