Unsurprisingly, Tesco, the UK’s largest retailer has remained vocal in its opposition to plans for stronger checks on retail expansion, while Wal-Mart-owned Asda, its nearest rival in the country, has backed the proposals. Marks and Spencer, a UK retailer that suffered during the recession, struck an upbeat tone on its food business this week, while Finsbury Food Group, a key private-label bakery supplier, saw its shares slide after its profits slumped.
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“The Government should think very carefully before proceeding with this recommendation and intervening aggressively in what is acknowledged to be a highly competitive industry and deterring investment in these difficult economic times” – Lucy Neville-Rolfe, executive director (corporate and legal affairs) commenting on the Competition Commission.s report recommending a competition test in the planning system.
“As we’ve said before, anyone opposing this measure is in effect opposing more competition” – Asda commenting on the Competition Commission.s report recommending a competition test in the planning system.
“Yes there has been a purple patch and we accept that and we see that as a challenge but at the end of the day the challenge is not as great as you make out” – Executive chairman of Marks & Spencer Sir Stuart Rose talking to analysts at the company’s second quarter results conference.
“We do not envisage any less promotional activity in the less six months in certain arenas. I think we’ll be kidding ourselves if we think it’s a big bed of roses” – Finsbury CEo Martin Lightbody insists the UK economyh remains “fragile”.
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By GlobalData“Innovation is one of the cornerstones of our strategy that we put together to get Thorntons back on its feet three years ago” – Mike Davies, chief executive of Thorntons talks to just-food.
“We need basically to tell the world in a transparent manner what we’re doing, and that we’re part of a solution and not part of the problem” – Richard Doyle, president of the International Dairy Federation.
“They are under a lot of pressure from investors,” Verdict Research’s Simon Chin told just-food. “If they did exit, in my opinion, it would be a bad call” – Chin talking about Carrefour’s pressure to exit emerging markets.
“We are caught between the impact of the slump in global prices for powdered milk and butter and high domestic farm-gate prices” – An Entremont spokesman talking about a possible merger with Sodiaal.
“The fantasy though is that because the leases have been sorted out, there will be now a flood of new entrants to the industry” – Ken Henrick, chief executive of NARGA explains why he thinks the end of restrictive leases in Australia’s retail sector will not lead to increased competition.
“We have made our position on Kraft’s proposal very clear and we welcome the panel’s decision in the interests of obtaining clarity and certainty for our shareholders and employees at the earliest opportunity” – Cadbury responding to the Takeover Panel’s announcement to Kraft that it must make a formal offer for Cadbury be forced to put any takeover ambitions on hold for six months.
