Kellogg and Kraft Foods Group this week demonstrated the challenge of doing business in the US grocery sector with half-year results that missed Wall Street forecasts. The US also looks set to see more retail consolidation after Dollar Tree’s move for discount rival Family Dollar Stores. Meanwhile, in India, ITC set out an ambition to be the top FMCG player in the country by 2030.
US: Kellogg lowers sales, earnings forecasts
Kellogg has slashed its full year earnings forecast after it reported lower sales and net profit for the second quarter of the year.
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On the money: Pricing, promos pinch Kraft results
Kraft Foods Group’s moves to up prices on certain products – and a step-up in its promotional activity in other areas – combined to put pressure on the US food company’s results in the first half of the year.
On the money: India’s ITC sets out FMCG ambition
Indian conglomerate ITC this week reported losses from its FMCG arm, as well as a slowdown in sales, but the company’s has big ambitions for its consumer goods business.
Analysis: The opportunities for FMCG from Dollar Tree’s move for Family Dollar
Customer consolidation, of course, can present challenges and US grocery manufacturers, so keen to up their presence in dollar stores, may have frowned a little at news two dollar chains, Dollar Tree and Family Dollar Stores, are set to combine. However, the deal could give the savvy manufacturer an opportunity or two.
Sustainability Watch: Ceres’ latest report on food
Gaining Ground, a report produced by sustainability thinktank Ceres and investment analysts Sustainalytics, compares the performance of 613 US companies and looks at comparative performance across different sectors. Ben Cooper asked Andrea Moffat, vice president of the corporate programme at Ceres and author of the report, how the food and beverage sector is faring.
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By GlobalDataUS: General Mills broadens CO2 reduction pledge
General Mills has announced plans to curb greenhouse gas emissions across its supply chain, with a focus on upstream agriculture.
RUSSIA: Moscow blocks Polish fruit, veg imports, mulls EU ban
Russia has slapped a temporary ban on fruit and vegetable imports from Poland, claiming the products breach its standards.
US: Tyson sells Mexico, Brazil ops to JBS
Tyson Foods has struck a deal to sell its operations in Mexico and Brazil to meat processing rival JBS.
UK: Bridges Ventures fund invests in snacks firm Wholebake
A “controlling” stake in UK snacks manufacturer Wholebake has been sold to investment fund Bridges Ventures.
Interview: PepsiCo chief scientific officer Dr Mehmood Khan – part two
In the second part of a two-part interview, Dr Mehmood Khan, chief scientific officer and head of global research and development at PepsiCo, gives Olly Wehring, editor of just-food sister site just-drinks, a tour of the inner workings of the food and beverage group’s R&D approach and defines success and failure for his department
