Casino’s anger towards the Diniz Group intensified this week as it became clear that its fellow shareholder in CBD had been in talks to merge the Brazilian retailer with the local operations of Carrefour. Meanwhile, Thorntons announced plans to slash its store estate and Premier Foods plc surprised analysts with an unexpected profit warning. Here’s the best of what was said this week:
“It is not a spontaneous proposal but a long-standing illegal planned financial transaction between Carrefour and Abilio Diniz” – French retailer Casino hits back its co-owner in CBD as it emerged the shareholder was in secret talks to merge the Brazilian retailer with Carrefour’s local operations.
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“Our goal is to refocus the business across all channels and seek to deliver industry competitive returns over the next three to five years. Although we see the prospect of weakness in High Street footfall and consumer sentiment continuing, I am confident that this strategy is right” – Thorntons chief executive Jonathan Hart on the company’s plans to close up to 180 stores.
“What a failed re-pricing initiative would have been the Lord only knows” – Shore Capital analyst Clive Black reacts to Tesco‘s delisting of a number of Premier Foods plc’s products – which the UK food manufacturer claimed was a “successful re-pricing exercise”.
“We have a long-standing commitment to responsible marketing, including the use of our equity characters. Our equity characters are part of our brands’ recognition and we use them appropriately and responsibly” – Kellogg chief sustainability officer Celeste Clark describes the company’s stance on the use of its characters like Tony the Tiger and Snap, Crackle and Pop.
“In the last year alone, her work leading the Netto acquisition and integration programme – which is reinventing our retail future – demonstrates that she’s the natural choice for this role” – Asda CEO Andy Clarke on the appointment of Judith McKenna as COO of the retailer.
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