As Christmas nears and the temperatures drop here in the UK, competition in the food industry is heating up. This week saw two of the country’s leading retailers, Tesco and Morrisons, issue an update on trading and the signs are that Morrisons is stealing a march on its larger rival. Meanwhile, the problems in the US meat sector came home to roost again with Smithfield Foods posting a plunge in profits and Pilgrim’s Pride filling for Chapter 11. Elsewhere, France’s squabbling farmers and dairies struck a deal on price – but the tension between them looks set to rumble on.
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These are the top ten stories on just-food this week.
UPDATE: UK: Tesco “took eye off the ball” in UK
Tesco’s recent international expansion may have led the UK’s largest retailer to take its “eye off the ball” domestically, an industry analyst said today (2 December) in the wake of the group’s third-quarter update.
UK: Morrisons Q3 sales jump; strikes Co-op deal
Morrisons, the UK’s fourth-largest grocer, today (4 December) signalled that it is benefiting from the economic downturn after posting an 8.1% rise in third-quarter like-for like sales.
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Christmas is one of the most cut-throat times of the year for suppliers and retailers and, given the state of the economy, this year’s festive period is likely to prove more competitive than ever.
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By GlobalDataUS: Pilgrim’s Pride files for Chapter 11
US chicken producer Pilgrim’s Pride has voluntarily filed for Chapter 11 bankruptcy protection to address “short-term operational and liquidity challenges”.
US: Smithfield sees profits plummet
US pork producer Smithfield Foods has seen first-half operating profit plunge, despite a gain in sales, as high input costs hit its turkey and hog production units.
Tension over French milk prices to rumble on
The French dairy sector has seen protests and blockades across the country in recent weeks as farmers demonstrated against moves from dairy processors to cut milk prices.
RUSSIA: Rewe acquires Njam Njam supermarkets
German retailer Rewe has expanded its footprint in Russia to 59 stores through the acquisition of 13 Njam Njam supermarkets.
FRANCE: Carrefour “evolves” c-store offer
Carrefour is trialling two new convenience store concepts, Carrefour Contact and Carrefour City, with a view to rolling the banners out across its entire network of French convenience stores.
UK: Nestle relaunches low-calorie biscuits
Nestlé is relaunching its range of chocolate biscuit bars in the UK and reformulating the products to contain only 99 calories.
BELGIUM: Barry Callebaut delivers “tooth friendly” chocolate
Two Belgian chocolatiers have launched “tooth friendly” chocolate products utilising a new chocolate variety developed by Swiss cocoa and chocolate supplier Barry Callebaut.
