just-food readers spent their time number crunching this week. Our coverage of the latest results from some of the industry’s top manufacturers, including Kraft Foods, Dairy Crest and Unilever, proved popular. Once again, the latest on the peanut salmonella scare in the US grabbed the headlines. Meanwhile, UK research that claimed demand for organic food is on the wane amid the downturn seemingly flew in the face of assertions made across the Channel, where there is confidence in French organic sales.
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Here are the top ten stories on just-food this week.
US: Kraft cuts sales, earnings forecasts
Kraft Foods today (4 February) cut its sales and profit forecasts for 2009 as it posted a 9% fall in underlying net earnings for the fourth quarter of 2008.
US: Sara Lee next to cut 2009 targets
Sara Lee, the US food group, today (4 February) lowered its sales and earnings forecasts for 2009, just as larger rival Kraft Foods trimmed its own targets.
UK: Dairy Crest sees sales growth slow
Dairy Crest said today (3 February) the company’s expectations for its fiscal year were unchanged since its November profit warning after seeing sales growth slow during its third quarter.
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By GlobalDataUPDATE: UK: Unilever CEO hints at acquisitions
Unilever CEO Paul Polman has hinted that the consumer goods giant is likely to make more acquisitions in the next year as it looks to beef up its portfolio. Speaking at the publication of Unilever’s 2008 results, Polman said the Anglo-Dutch group could make more “bolt-on acquisitions” within the next 12 months.
US: Kellogg FY sales, profits up; trims ’09 guidance
Kellogg today (5 February) posted a rise in 2008 sales and earnings but trimmed its revenue target for 2009.
US: More Kellogg recalls; Obama speaks out on salmonella
Cereal giant Kellogg has recalled more products amid the ongoing peanut salmonella outbreak in the US.
UK: Recession hits organic food sales
Less UK consumers are buying organic products amid the recession hitting the country’s economy, food and grocery analysts IGD has claimed.
FRANCE: Organic sales “to ride out downturn”
The French organic sector is likely to ride out the economic downturn relatively unscathed, a spokesperson for the country’s organic body told just-food today (6 February).
The Retail Summit 2009 – live from Prague
This week, just-food is in Prague, the Czech capital, as some of the leading lights in the region’s food manufacturing and food retail industries discuss the prospects for the sectors in central and Eastern Europe.
UK: Weak sterling “stalls” food inflation falls – TNS
Food inflation in the UK has “stalled” after showing signs of coming down as the weakness of sterling has pushed up the prices of produce and imported foodstuffs, according to figures published today (3 February) by TNS.
