Yet more 2010 financial results this week but, with the likes of Nestle, Danone and Dean Foods reporting, the market was keen to hear how some of the largest manufacturers on both sides of the Atlantic were dealing with the fragile economic recovery and with soaring commodity costs. In the retail sector, just-food took a look at Germany’s grocery sector and we analysed why Nelson Peltz’s Trian fund has tabled a US$7bn takeover bid for US retailer Family Dollar Stores. Click on the headlines to find out more.
On the money: Danone undaunted by commodities cloud
Danone has insisted that it expects to improve margins during 2011, despite the spectre of rising commodity costs.
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Nestle’s 2010 results and 2011 outlook – what the analysts say
Nestle claimed it “outperformed” the market in 2010 and that it has started this year with “continued momentum”. Here is what leading analysts said about the results from the world’s largest food maker and the outlook for the business.
Comment: Dean Foods sees “stabilisation” but question marks remain
Shares in Dean Foods rallied yesterday (16 February) after the US dairy group posted expectation-beating earnings and insisted that its prospects would pick up in the back half of 2011. However, Katy Humphries suggests, a number of challenges could hamper the group’s performance over the next 12 months.
UK: 2 Sisters Food Group plans GBP30m factory
UK food manufacturer 2 Sisters Food Group plans to invest GBP30m (US$48m) in opening a factory in Thetford, Norfolk.
Comment: Premier progresses but still has work to do
After a challenging 12 to 18 months, Premier Foods plc’s management would have been heartened to have seen the UK food group’s shares jump after the publication of its 2010 results but, writes Dean Best, some significant tests remain.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalDataTalking shop: Are German supermarkets seeing a renaissance?
The German grocery sector is characterised by low-prices and discounter dominance but are supermarkets enjoying a rebound? And will a local competition probe into the sector find that retailers are exerting unfair pressure on suppliers?
In the spotlight: Peltz looks to pounce for Family Dollar Stores
Nelson Peltz, the US activist investor, is no stranger to the food industry and has grabbed the headlines in recent years with his investments in Heinz, Cadbury and Kraft Foods. Now, he has tabled a full takeover bid for US discount retailer Family Dollar Stores.
On the money: Campbell “can and will do better” – CEO Conant
Campbell Soup Co. today (18 February) booked a fall in first-half sales and earnings, which were hit by high levels of promotional spending and pricing investments.
FRANCE/CHINA: Synutra and Sodiaal join forces on infant milk
Chinese powdered baby milk specialist Synutra is set to invest between EUR65m (US$89m) and EUR80m in building a production plant in the French region of Brittany.
UK: Kerry Group to close Flint ready-meals factory
Irish food company Kerry Group is to close a frozen ready-meals site in the Welsh town of Flint, with the possible loss of over 300 jobs.
