The sheer volume of quarterly results this week was enough to leave you cross-eyed but some other stories cut through, including the acquisitions of Poundland and Barts Spices in the UK – and Warren Buffett’s latest criticism of Kraft Foods’ takeover of Cadbury. Here are the most popular stories on just-food this week.
UPDATE: UK: Poundland can thrive in recovery, says new owner
UK discount retailer Poundland can prosper even as the country’s economy moves into a phase of fully-fledged recovery, the company’s new owner said today (4 May).
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US: Buffett again slams Kraft’s “dumb” Cadbury takeover
US billionaire investor Warren Buffett has again hit out at the way Kraft Foods bought UK confectioner Cadbury.
On the money: Morrisons ahead “by a nose”, says finance chief
Morrisons, the UK’s number four grocer, is outperforming its rivals “by a nose” and will stick with its expansion plans despite slowing sales, its finance chief said today (6 May).
US: Sara Lee books Q3 loss – but lifts EPS target
US food group Sara Lee today (6 May) reported a loss for its fiscal third quarter but lifted its forecast for underlying earnings for the full year.
UPDATE: UK: Langholm aims to “do a Dorset Cereals” with Barts Spices
Private-equity firm Langholm Capital is aiming to build new acquisition Barts Spices in a similar way to Dorset Cereals, a food company previously in its portfolio.
UK: M&S finance chief Dyson quits to join Punch Taverns
Marks and Spencer’s finance and operations director Ian Dyson has today (5 May) announced his resignation to join Punch Taverns as chief executive.
US: Hain cuts earnings forecast despite Q3 profit
US-based natural and organic food maker Hain Celestial swung to a profit in the third quarter but cut its full-year earnings forecast.
IRELAND: Ingredients helps Kerry offset consumer challenge
Kerry Group’s food ingredients arm has boosted the Irish company as it continues to face challenges in its recession-hit, domestic consumer-food business.
RUSSIA: Wal-Mart “rethinks strategy” in Russia
US retail giant Wal-Mart is reportedly considering expanding organically in Russia by building its own stores rather than relying on the acquisition of a local player.
BELGIUM: “Outstanding” home performance boosts Delhaize
Belgian retailer Delhaize has booked an increase in first-quarter profits, boosted by a “strong” increase in its domestic sales.
