With many of the UK’s major retailers posting their Christmas updates this week, some blamed the snow for their lacklustre results. Meanwhile, the spectre of rising commodity prices continues to raise its ugly head. Here’s the best of what was said this week.
“I don’t spend any time thinking about it” – Sainsbury’s chief Justin King on Kantar Worldpanel data that puts Sainsbury’s ahead of Asda in market share.
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“We have not lost momentum at all, in fact we are in a very good place” – Morrisons CEO Dalton Philips speaking as the retailer recorded weaker Christmas trading.
“The exceptionally cold weather created logistical issues for our food stores – particularly given the sheer scale and geographic spread of our estate” – The Co-operative Group’s chief executive Peter Marks reports a drop in fourth-quarter sales.
“The good thing about the M&S business is that we’ve got so much of what we call non-comparable products because we bring through so much innovation than anyone else” – Marks and Spencer boss Marc Bolland on the retailer’s recipe for success in 2011.
“What we’re trying to do is to minimise that delta we have between our regular price – which I think we referred to as insult pricing in some cases – get that regular price back in line with where consumers expect it to be and yet still be a promotional merchant” – Supervalu Inc CEO Craig Herkert on how the retailer is looking to improve its price perception.
“Bakers like Warburtons shouldn’t be cut a break” – Sainsbury’s King on manufacturers attempting to push through price increases due to higher commodity costs.
“We continue to believe that developing a commercial soup market in China represents a tremendous business opportunity for our company” – Campbell president and CEO Doug Conant on the soup company’s Chinese joint venture with Swire Pacific.
“For 2011, we believe talking must stop and execution must ensue. Whilst peripheral strategies around disposals, listings and real estate are supportive, the execution of the re-invention of the European hypermarkets is the single biggest catalyst and one that promotes the largest debate” – JP Morgan Cazenove analyst Matthew Truman on Carrefour’s 2010 trading results.
“Don’t sell us down the river” – NFU president Peter Kendall calls for manufacturers not to buy eggs that don’t comply with the EU Welfare of Laying Hens Directive come next year.
“One doesn’t want to jump to conclusions at this stage but that equally applies to jumping to conclusions that everything is going to be all right” – The UK’s Food and Drink Federation’s director of sustainability, Andrew Kuyk, on whether current commodity price trends are on par with those in 2008, when the last major spike occurred.
