This week, two of the world’s biggest retailers Wal-Mart and Carrefour were in the spotlight. Wal-Mart is facing questions over its business in China and Carrefour, after a series of profit warnings, is under pressure from one of its investors. Meanwhile, the world’s dairy sector gathered in Italy to discuss the challenges facing the sector, including its impact on the environment.
“Wal-Mart is going to have to have a major strategy re-think going forward” – Shaun Rein, MD of consultants China Market Research Group, believes the world’s largest retailer, beset by a pricing scandal, executive departures and intensifying competition, has serious problems in China.
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“Over the past year Carrefour has repeatedly lost market share compared to its main competitors in France and abroad, it has made five profit warnings and its share price has fallen by nearly 50%” – Eric Knight, chief executive of investment fund Knight Vinke explains why the Carrefour shareholder has demanded change at the French retail giant.
“We need to find ways of balancing reducing environmental impact with an increase in production. Every stakeholder in the dairy chain has a stake in feeding the world population” – Richard Doyle, president of the International Dairy Federation, outlines the challenge facing the world’s dairy sector.
“PepsiCo’s covert ad campaigns take advantage of teens’ vulnerabilities and encourage them to buy and consume a product that is harmful to their health” – Angela Campbell, a legal adviser for the Campaign for Digital Democracy, accuses PepsiCo of “deceptive” marketing.
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“The market tends to stabilise a bit before it grows again. I see no reason why we should not be gradually coming back to 10-15% growth of our portfolio in this region. It will take a few months and quarters before we go back to that,” – Danone chairman and CEO Franck Riboud remains optimistic about the company’s prospects in Russia despite analyst concerns about its poor performance in the country.
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