We have grown accustomed to the general doom and gloom of results releases of late. But last week, we saw some buck the trend: Ahold began to benefit from its restructuring; heavily-indebted Premier Foods showed profit gains alongside a deal to raise capital and improve its balance sheet; and French retailer Casino said that it would reduce debt as profits continued to grow.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
Elsewhere, UK confectioner Cadbury showed us that the recession has not forced its eye off corporate social responsibility issues, announcing that its flagship Dairy Milk Brand would adopt the Fairtrade logo in the UK this year. Meanwhile, Sophi Tranchell, MD of Fairtrade chocolate maker Divine, spoke to us in this month’s just-food interview.
However, the shadow of economic downturn appears always near. Over the last week, we heard warnings that a bastion of the UK high street, Marks and Spencer, could be forced to abandon its Simply Food format, while US warehouse store Costco saw first-half earnings tumble.
Here are some of the stories that caught your eye over the past week.
NETHERLANDS: Ahold shares up after profits rise
Dutch retail giant Ahold posted a 12.2% increase in full-year operating profit today (2 March) and boosted its annual dividend.
UK: Premier boss hails “progress” as profits rise
Premier Foods plc today (5 March) posted a 13.5% rise in annual profits as turnover grew during a year in which the UK food group undertook an overhaul of its business.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataFRANCE: Casino profit up, to cut debt
French retail group Casino today (5 March) posted a 7.3% increase in net profit for 2008 but said it would sell off EUR1bn (US$1.3bn) of assets to cut debt.
UK: Cadbury Dairy Milk to get Fairtrade mark
Cadbury has laid out plans to achieve Fairtrade certification for Cadbury Dairy Milk by the end of the summer.
The just-food interview – Sophi Tranchell, Divine Chocolate
There has been huge growth in ethically-traded goods in recent years but some brands stand out from the crowd. Divine Chocolate would be among them. As the UK’s Fairtrade Fortnight draws to a close, Ben Cooper spoke with Sophi Tranchell, managing director of Divine Chocolate, about what differentiates Divine from many Fairtrade products, the brand’s international aspirations and whether Fairtrade can withstand the onslaught of recession.
UK: Birds Eye expands Simply frozen fish stable
Birds Eye Iglo has launched a fresh assault on the UK frozen food category with the introduction of two new ranges and the revamp of its Simply stable.
BELGIUM: Unilever, Delhaize settle pricing row
Unilever has settled its pricing dispute with Belgian retailer Delhaize, which had seen 250 of the consumer goods giant’s products delisted at the beginning of February.
UK: Tesco wins “competition test” appeal
The UK’s Competition Appeal Tribunal (CAT) today (4 March) found in favour of Tesco after the retailer submitted an appeal against a proposal to establish a competition test in the UK planning system
UK: M&S needs to offload Simply Food – analyst
Marks and Spencer needs “fundamental” change to its business, including the complete disposal of its Simply Food stores, if it is to grow sales and profit in the medium term, according to analysts at Credit Suisse.
US: Strong dollar costs Costco dear
US wholesale retailer Costco has booked a fall in half-year profits as weak economic conditions and the strengthening of the US dollar weighed on earnings.
