Quote, unquote: just-food's week in words

By Michelle Russell | 17 September 2012

Thorntons published its earnings results this week

Thorntons published its earnings results this week

This week, Thorntons' CEO Jonathan Hart sounded a cautious note on the economic landscape as the firm recorded a fall in full-year profits. Elsewhere, PepsiCo president John Compton announced his departure from the snack giant as he looks make a move back to Tennessee, and Dole admitted it is in talks to sell two units to Itochu Corp.

"It's difficult to believe one can significantly fight against it" - Thorntons CEO Jonathan Hart says the firm is still seeing a "significant" amount of promotions in its commercial division.

"Earlier in 2012 he was being positioned to be one of the front runners to potentially be CEO of PepsiCo whenever Indra would decide to step down" - Morningstar analyst Thomas Mullarkey on PepsiCo president John Compton's decision to step down.

"With consumer incomes remaining under pressure, this appears to have driven both falling volumes and down trading to less expensive meat cuts such as mince and burgers at the expense of joints/steaks etc" - Panmure Gordon analyst Graham Jones estimates average meat prices increased by 8% for Hilton in H1.

"I think I feel like you answered the question for us by saying we've operated quite well when Walmart has been a significant factor in our markets" - Kroger CEO David Dillon answers a question on whether the company would change its strategy should Wal-Mart roll out more smaller outlets.

"As a family business this is a very difficult announcement to make but we must always act as a responsible business and be prepared to take tough decisions" - Warburtons CEO Jonathan Warburton on the closure of its Blackpool facility.

"Dole continues in discussions with several other parties regarding these assets and others" - Dole Food Co admits it is in talks to sell two units, including its packaged food arm, to Japanese conglomerate Itochu Corp.

"The positive impact of these, along with increased efficiency and the benefits of growth, are seen in this profit performance which in turn provides a platform for further increases in investment in the second half" - John Lewis says "strategic investments" in the last few years contributed to Waitrose H1 growth.

"There are several benefits to the new innovation centre, including that we will be able to conduct initial research and test product concepts more quickly and conveniently than in the past" - A Campbell Soup spokesperson says its new Pepperidge Farm facility will make product testing easier.

"I have deep and personal ties to Tennessee, and my family's plan all along has been to return to Tennessee at some point" - PepsiCo president John Compton on his decision to leave the company.

"I am excited about our business prospects in Middle East and Africa in general, and in Morocco in particular" - president of Kraft Foods Middle East & Africa, Lawrence MacDougall on the firm's deal to acquire the remaining 50% stake of Biscuiterie Industrielle du Moghreb.

Sectors: Advertising & labelling, Baby food, Bakery, Canned food, Cereal, Chilled foods, Commodities & ingredients, Condiments, dressings & sauces, Confectionery, Dairy, Dried foods, Emerging markets, Financials, Food safety, Fresh produce, Frozen, Health & wellness, Ice cream, Meat & poultry, Mergers & acquisitions, Natural & organic, NPD & innovation, Private label, Retail, Seafood, Snacks, Sustainability & the environment, World foods

Companies: PepsiCo, Thorntons, Kroger, Warburtons, Waitrose

There are currently no comments on this article

Be the first to comment on this article

Related research

Pepsico inc in Packaged Food (World)

PepsiCo has benefited from its strong presence in sweet and savoury snacks, which continue to make up the majority of its sales in packaged food. It did however reduce its reliance on this category with the acquisition of Russian dairy player Wimm-Bi...

Related articles

On the money: Kroger looks to invest in store expansion, new markets

US retailer Kroger has said it will invest in expansion and look at new market opportunities in 2013 after delivering an "outstanding" year of sales and earnings.

US: Kroger records "outstanding" full year

US retailer Kroger said it delivered an "outstanding" year after booking an increase in full-year profits.

Editor's choice: the highlights on just-food last week

The fall-out from the horsemeat contamination continued last week, with Tesco outlining plans to shake up its supply chain and source meat from the UK. Elsewhere, UK free-from firm Genius Foods bought out venture partner Finsbury Food Group and, in the US, more buyers were found for Hostess Brands' assets. Click on the headlines for more.

Welcome to the home of food information, insight & intelligence

Not a member? Join here

Decrease font sizeDecrease font sizeDecrease font size Increase font sizeIncrease font sizeIncrease font size Comment on this article Email this to a friend Print this page