Danone chairman and CEO Franck Riboud (pictured) was among the latest leading food-industry executives to announce his company’s financial performance – and comment on the global economy, commodity costs and the outlook for 2011. In the retail sector, US discounter Family Dollar Stores received an unsolicited takeover bid, just-food took a look at Germany’s grocery retail industry and UK retailer The Co-operative Group launched an ambitious CSR plan.
“The significant input cost inflation and currency impact will weight on 2011 results, however management remains very confident in growing the business by 5-6% organically and in improving the operating profit margin in constant currencies” – Jean-Philippe Bertschy, food and beverage analyst Bank Vontobel on Nestle’s 2010 results.
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“We expect the first half of 2011 to be particularly difficult but results are expected to strengthen in the back half” – Dean Foods CEO Gregg Engles describes the company’s outlook for 2011.
“We anticipate no major change in consumer demand and in this context, also marked by persistently steep increases in raw material prices, we are placing the emphasis on lasting development of our brands, with a commitment to health, eating pleasure and respect for the environment” – Danone chairman and CEO Frank Riboud on the company’s prospects for 2011.
We have an issue here in the US and we are on it. We can and will do better” – Campbell president and CEO Doug Conant promises to improve company’s performance in its US soup division.
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“We’ve got to get a better balance between our volume progress and our value progress” – Premier Foods plc CEO Robert Schofield on why volumes rose by 3.1% while sales fell 0.3%.
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By GlobalData“The way businesses behave matters. Decisions in boardrooms matter” – The Co-operative Group CEO Peter Marks describes the group’s ambitous new corporate responsibility plan.
“It’s one of the most brutal grocery markets in Europe. While it may not be the most competitive market, it’s the one where there is very little growth in the market, because there is such a lot of discounting. It constrains growth overall, which makes it very difficult for people to make a living out of it” – Neil Saunders, an analyst at Datamonitor’s retail arm Verdict, on the German grocery market.
“There is an opportunity to offer more compelling food, a better private-brand offer and upgraded store experience from where they are today” – Neil Stern, senior partner at US retail consultants McMillanDoolittle reveals the opportunity for Nelson Peltz, who is considering acquiring US discount retailer Family Dollar Stores.
“We will take appropriate action where necessary to manage increased commodity costs” – Snyder’s-Lance president and COO Carl Lee says the company has pushed its prices up twice this year and will continue to do so as commodity pressures increase.
