The week was dominated by the annual results from Tesco, the UK’s largest – and the world’s third-biggest – retailer. Much of the focus was on comments from new CEO Philip Clarke, who was frank about the challenges the retailer faces at home and abroad. On our analysis pages, we looked at Tesco, the EU health claims process, the problems retailers face with out-of-stocks and Nestle’s latest investment in China. Meanwhile, the news of the death of Pietro Ferrero, the joint CEO of confectioner Ferrero, saddended many in the industry.
Clarke kicks off at Tesco
As Tesco announced its annual results this week, new CEO Philip Clarke suggested a new era of openness for the retailer, admitting that its UK operations “can do better” while emphasising that losses in its US division must improve.
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ITALY: Ferrero joint CEO dies in South Africa
Pietro Ferrero, the joint chief executive at Italian confectionery giant Ferrero, has died in South Africa, the company has confirmed.
BRICs and beyond: Nestle ups Chinese presence with Yinlu buy
Swiss food giant Nestle has expanded its Chinese footprint with the acquisition of a 60% stake in local food maker Yinlu Foods. The deal will widen Nestle’s product offering in the market, grow distribution and significantly expand the group’s Chinese sales. However, the acquisition’s greatest upside is perhaps the local know-how that Nestle will gain by working with an experienced and trusted Chinese partner. Katy Humphries reports.
CHINA: Bright Dairy to build “Asia’s largest dairy”
Bright Dairy, one of China’s major dairy manufacturers, is to invest about CNY1.4bn (US$214.5m) to build a new plant in Shanghai.
S AFRICA: Kraft investments to “drive growth” in South Africa
Kraft Foods is ramping up investment in South Africa as it looks to expand in the market.
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By GlobalDataFRANCE: Intermarché shakes up own-label portfolio
Intermarché has started to rationalise its own-label ranges in a bid to improve consumer awareness of the portfolio.
Focus: Health claims failing EU test
A majority of health claims have to date failed to make the grade under EU regulations governing the communication of the health benefits offered by foods. This has prompted many in the industry to suggest that the requirements are too stringent, while others have raised concerns that the inability to market products that have health benefits will deter manufacturers from investing in health and wellness NPD. Katy Humphries reports.
Talking tech: Improving out-of-stocks
With retailers facing an increasingly cautious consumer, and doing all they to squeeze their supply chains, there remains a huge opportunity for incremental growth through improving out-of-stocks. Petah Marian reports.
RUSSIA: Kellogg creates new emerging markets unit
Kellogg has created a new division handling its operations in Russia and certain other emerging markets.
UK: Vion mulls closure of Sheffield sausage site
Dutch food group Vion has laid out plans to restructure its sausage processing in the UK, which could lead to the closure of a site in Sheffield.
