Morrisons chief executive Dalton Philips this week insisted the UK retailer had been able to adapt to the tough trading conditions in the country. In the US, PepsiCo CFO Hugh Johnston said high inflation and low growth was forcing all FMCG companies to reassess their strategies.
“There’s a growing professionalism in people’s approach to shopping. People used to spend around a budget. Now they shop to a budget. This more professional approach to shopping plays to our strengths” – Morrisons chief executive Dalton Philips believes the retailer is well-placed to thrive despite the slowdown in the UK.
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“The stagflationary environment and a stressed consumer has created difficulties for the entire consumer packaged goods space” – PepsiCo CFO Hugh Johnston says high inflation and low economic growth is forcing FCMG companies to reassess their strategies.
“We stabilised the business in 2011. We’re seeing some great top-line results, some outstanding share performances” – Kellogg president and CEO John Bryant reveals a renewed emphasis on innovation has revitalised sales.
“We have strong sales and a strong and trusted brand with excellent potential. I remain confident we have the right plan to keep sustainable growth in the future” – Thorntons chief executive Jonathan Hart believes the UK chocolate maker can revitalise its retail business.
“It’s very important to put public health before the economics, and if there’s doubt and questions that a company does not have product that is safe, it’s important to err on the side of safety” – with Fresh Del Monte Produce launching lawsuits against US health officials over a salmonella outbreak, Professor Mike Doyle, director of the Center for Food Safety at the University of Georgia, says companies need to remember that public health is paramount.
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By GlobalData“Obviously the UK market remains the bedrock of our business. However, it is also important that we explore opportunities, such as this one with Fonterra, that have the potential to deliver enhanced returns for our dairy farmers” – First Milk chief executive Kate Allum outlines why the UK dairy co-op is to produce whey proteins with Fonterra.
“If left unchallenged, the court’s interpretation of some fundamental principles of merger analysis could have serious implications for the ACCC’s ability to block anti-competitive mergers – and so protect consumers – in the future” – Rod Sims, chairman of The Australian Consumer and Competition Commission, explains why the watchdog is continuing its fight against Metcash’s acquisition of local retail rival Franklins.
“Our French sales are now at a similar level to Germany and the UK and we are ideally placed to benefit from the opportunities for further consolidation of the European ice cream sector” – R&R Ice Cream this week announced the acquisition of French firm Pilpa and chief executive James Lambert says the UK ice cream maker can capitalise on further M&A deals in the sector.
“It’s no secret, Greece is doing very well for Delhaize thanks to Alfa Beta and we’re looking at full-on expansion” – a spokesman for Delhaize says the Belgium-based retailer wants to further build its network of stores in Greece.
“I also want to add that as we have said since 2009, the proper place to try a hot dog in August is always at a cook-out, not in the court room” – a Kraft Foods spokesman comments after the company settles its “wiener wars” lawsuit with Sara Lee.
