Quote, unquote: just-food's week in words
Morrisons CEO Dalton Philips announced a raft of new initiatives at the retailer's H1 results
This week there was a lot of interest in UK grocery retailer Morrisons' H1 results and the City debut of its new CEO Dalton Philips. Industry watchers were not disappointed, with Philips unveiling a raft of new initiatives. Ocado continued to disappoint the market, despite posting continued growth on Tuesday. The Casey's/Couche-Tard saga continued, with 7-Eleven tabling a bid for Casey's. Meanwhile Campbells unveiled its new ad campaign as well assofter-than-expected sales" for the year. Here's the best of what was said this week:
"If you can't be the biggest, you have to be the fastest" - Morrisons CEO Dalton Philips on the retailer's planned initiatives.
"By the look of the share price hike today, the market is simply trying to estimate the extra tonnage that is coming today as a direct result of this agreement. But that would be missing the big picture: the announcement confirms the long-term scope and potential of the Barry Callebaut outsourcing business model. By the way, it also makes the conversion of the rest of Kraft's currently self-produced bulk chocolate very much easier" - Industry analyst James Amoroso on the announcement that Barry Callebaut will supply Kraft Foods with its cocoa.
"It may seem strange to say but once you get general adoption of a kind of service, be that groceries being sold online, it will lead to acceleration in that service overall. We're already happily competing with the largest and best operators in the grocery world, and if others come into the market, we're interested to see what happens" - Ocado CFO Andrew Bracey on rumours that Morrisons and Marks & Spencer might enter the online grocery arena.
"I am very bullish about our ability to perform in this coming year. We understand the pricing environment we are in now, we are organised to compete at that level going into the season not trying to adjust in mid-season, we are very well aligned with the customers now, the customers are more prepared to deal with the environment we are operating in" - Campbell president and CEO Doug Conant on the company's outlook into fiscal 2011.
"We are pleased that Casey's is now in in 'Revlon' mode given that the Casey's board of directors has finally made the decision to put the company up for sale" - Couche-Tard on the announcement that there is a second suitor bidding on the convenience operator.
"We reviewed 60 years worth of advertising to better understand what had worked and why" - Campbell Soup US vice vice president and general manager Andrew Brennan on its new marketing campaign.
"Vietnam has a growing population of almost 90m people, its GDP is growing, the middle class is expanding and consumers there seem responsive to innovative products that deliver value and convenience," Warmoth said. "Importantly, the Vietnamese like sauces, which is one of our core capabilities at Heinz" - Chris Warmoth, executive vice president for Heinz's business in Asia-Pacific, on the reasoning behind Heinz's expansion in Vietnam.
"We have strengthened our senior retail management team and we believe that this, together with extensive product innovation and changes to the promotional and marketing programmes, should have a positive impact on trading in the lead up to Christmas" - Thorntons executive chairman John von Spreckelsen on the chocolatier's outlook.
"We look forward to our participation with the Butterball management team and the Maxwell group and bringing additional value to Butterball" - Seaboard president and CEO Steve Bresky after acquiring a 49% stake in the Turkey processor in partnership with Maxwell Farms.
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Sir Ken Morrison, the former chairman of UK supermarket chain Morrisons, may face an investigation from the country's shares watchdog, for allegedly failing to disclose the transfer of millions of pou...
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