Blog: General Mills CEO shines spotlight on competition in the UK
Dean Best | 16 December 2010
Trading conditions in the US grocery sector has been a regular feature of recent headlines on these pages - think of the cautious comments from Kellogg, Campbell Soup Co. and ConAgra Foods - and today (16 December) General Mills added to the debate.
The company today posted a drop in underlying half-year earnings as operating profits were squeezed by rising input costs and the continued high level of promotions in the US.
Speaking to analysts this afternoon, General Mills chief Ken Powell said he believed the promotional intensity in the US would "moderate" in the months ahead.
However, he notably highlighted the tough trading conditions the Old El Paso, Green Giant and Cheerios maker was seeing in the UK.
Powell said food makers in the UK were operating in "an intensely promotional environment across many categories".
Again, he said conditions would "moderate" but admitted that, right now, when looking at General Mills' international cereal business in particular, the UK market was "a stand-out" in terms of that promotional intensity.
You can read more of Powell's comments about the US and the UK here.
An update on Amazon's plans for the grocery sector. The usually reticent retailer has this week poured cold water on claims it has plans for 2,000 physical grocery stores....
Ask any FMCG executive to list the trends shaking up the sector and digital and e-commerce will be pretty high on the list. Drill down into that and Amazon will be one of the subjects in the digital s...
Since Theresa May took over as UK Prime Minister in the wake of the country's referendum vote to quit the European Union, she and her ministers have been at pains not to divulge their negotiating posi...
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Wessanen's move for Spain's Biogran - analysis
- Burger King, Jollibee: foodservice focus, Nov 2016
- Have food promotions reached tipping point?
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Tyson sets up US$150m investment fund
- Japan's Nagatanien buys Chaucer Food Group