Top stories on just-food this week

Seven months into one of the retail world's toughest jobs, Carrefour CEO Lars Olofsson this week detailed his plans to drive growth at the French retail giant. Across the English Channel, another food retailer in difficulty, Marks and Spencer, saw its quarterly sales fall - but the result was an improvement on the previous three months. M&S, meanwhile, would have been one of the world's retailers interested to hear that India's finance ministry has recommended a loosening of rules governing foreign investment in the food retail sector.

These are the top ten stories on just-food this week.

FRANCE: Carrefour transformation targets savings, turnaround
Carrefour has indicated that it expects to cut EUR4.5bn (US$6.4bn) in costs out of its business over the next three years, as part of a company-wide restructuring plan at the French retail giant.

However, as Katy Humphries contended this week, the road to recovery for Carrefour remains a long one.

UK: Food fightback helps M&S Q1
The timing of Easter, a nostalgic ad campaign and an improved performance from its food business have helped first-quarter sales at Marks and Spencer, the UK retailer.

INDIA: Relax FDI on food retail, says govt report
India should end the ban on foreign companies being able to own and open food retail stores in the country, a key government report has said.

US: E. coli found in Nestle cookie dough
E. coli has been found in a sample of Nestlé Toll House refrigerated cookie dough, the US Food and Drug Administration has announced.

UPDATE: US: Gen Mills execs defend innovation plans
Top executives at General Mills today (1 July) stood by their commitment to innovation in the year ahead despite the number of new products to be launched by the US food giant set to fall.

CHINA: Lianhua expands with Hualian buy
Hong Kong-based Lianhua Supermarket Holdings has announced the acquisition of Hualian Supermarket Co. from Bailian Group Real Estate Co.

AUS: Dairy firms WCB, Murray slash milk prices
Two Australian dairy groups, Warrnambool Cheese and Butter Factory (WCB) and Murray Goulburn, have slashed the milk prices they pay to farmers for the 2009/10 season.

S AFRICA: Grocery sector is competitive - Spar CEO
Food retailing in South Africa remains competitive with the leading players "scrapping" for market share, the CEO of Spar's operations in the country insisted today (1 July).

JAPAN: Seven & I revenue and profit plummets
Seven & I Holdings today (2 July) posted double-digit declines in first-quarter revenue and profit as the downturn dented consumer spending at the Japanese retailer's supermarket business.

EUROPE: Cadbury Europe boss to leave group
The head of Cadbury's operations in Europe is to leave the confectionery giant at the end of the month, the company has confirmed to just-food.