A new strategy – which has led to thousands of job cuts – at PepsiCo and the prospect of a new CEO and CFO at beleaguered Diamond Foods caught your attention last week but, beyond those headlines, just-food analysed organic food in China in its Brics and beyond column, we issued the latest data from our Promo Tracker and heard why columnist and SymphonyIRI vice president Rod Street believes suppliers and retailers need to develop a multi-channel strategy now.
PepsiCo moves to refresh global businessAfter months of investor unrest, PepsiCo has announced a wave of measures it hopes will drive growth across the company. The US giant will up spending on advertising and look to save US$1.5bn in costs, which will lead to 8,700 jobs being cut.
US: Diamond CEO, CFO exit after accounting probeUS snack maker Diamond Foods has replaced its CEO and CFO after an internal investigation found the company had incorrectly accounted for payments to walnut growers.
For the reaction of Procter & Gamble, which had agreed to sell its snacks brand Pringles to Diamond Foods, click here.
US: Wal-Mart logo to highlight healthier foodWal-Mart Stores plans to put a logo on some of its private-label foods that it claims will help US consumers identify healthier food.
On the money: Analysts hail Tyson Q1 despite profit slumpTyson Foods managed to garner the support of analysts on the release of its first-quarter results, beating estimates despite continued high feed costs.
US: Profits from Post cereal unit down 30%, says RalcorpProfits from US cereal maker Post fell 30% in last three months of 2011, Ralcorp Holdings, the private-label group that has spun off the business, has revealed.
Kerry Group has told just-food that it is “astonished” at claims it is taking a “hardline anti-union stance” over potential job cuts at a UK facility.
BRICs and beyond: Organic food’s identity problem in ChinaA sign that a branded food market is maturing is the growth of niches and demand for certified-organic products in China is starting to rise. However, as Mark Godfrey reports from Beijing and the south-eastern city of Xiamen, in China’s fledgling organic sector, there are no common labelling requirements, leading to consumer confusion over what is truly organic, which could hinder development in the long term
Promo Tracker: Waitrose offers deepest promotionsWaitrose’s promotions offered consumers the highest saving on average, according to the latest data from the just-food Promo Tracker.
Street talk: Suppliers, retailers need to think multi-channelThe impact of multi-channel retailing has been evident in many non-food sectors for years and, while it is in early days in the grocery industry, online sales of food are forecast for rapid growth. In his latest Street talk column, SymphonyIRI vice president Rod Street outlines why consumers are turning to online – and why suppliers and retailers must be ready.
BRAZIL: Acquisitive Frutarom buys flavours firm MylnerFrutarom is set to make its third acquisition of 2012 after signing a deal to buy Brazilian flavours firm Mylner.