Kraft Foods officially completed its split into two companies last week: high-growth global snacks firm Mondelez International and Kraft Foods Group, a North American grocery powerhouse. Tesco and Sainsbury’s updated the market on their first-half results, highlighting the uphill struggle facing the larger Tesco as it looks to improve its UK performance. Also in UK retail, Morrisons indicated that it is preparing to step up its drive into convenience. Meanwhile, just-food brought live coverage from the GMA/FMI Sustainability Summit in Washington DC.
Profile: Split to bring greater focus for Kraft
US$18.7bn North American grocery giant that will emerge when it is formally spun-off from the firm’s global snacks business today (1 October), is a powerhouse of brands operating in the world’s most profitable grocery market.
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Profile: Mondelez takes place on starting block
As Kraft Foods completes the formal split of its business into two units today (1 October), Mondelez has its eye firmly on its growth strategy.
UK: Morrisons appoints Mowat M local MD to “spearhead” growth
UK supermarket group Morrisons has appointed Gordon Mowat as managing director of its convenience arm, M local, in a bid to drive growth at the unit.
US: Business imperative drives sustainability agenda
Progress on the sustainability agenda presents an opportunity to boost both the top and bottom line, delegates at a Sustainability Summit hosted by the GMA and FMI heard yesterday (4 October).
US: Unilever mulls Skippy sale
Unilever has confirmed it is considering the possible sale of its US peanut butter brand, Skippy.
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By GlobalDataOn the money: Tesco ‘needs time’ in UK turnaround – CEO
UK retailer Tesco has said that it is confident that efforts to improve its domestic performance will reap results, despite posting a drop in first-half UK profits earlier today (3 October).
On the money: Sainsbury’s vouchering “pivotal” to sales success
Sainsbury’s said the group’s level of couponing and vouchering activity has been pivotal to its sales success and dismissed an observation that the current industry level is unsustainable.
COMMENT: Premier reorganisation could bring home bread
Premier Foods announced yesterday (4 October) that it will divide its grocery and bread businesses as it looks to drive growth of its “power brands”. While the company will retain the benefits of any crossover between bread and grocery, a greater focus in each division could help Premier maintain its momentum.
UK: Leahy “leading bid” for United Biscuits snacks unit
Former Tesco boss Sir Terry Leahy is understood to be leading a bid by private equity firm Clayton Dubilier & Rice (CD&R) for the salty snacks business of United Biscuits.
