The UK’s grocers ushered in 2009 with a bang this week – and the outlook for the new year looks very different for opposing retailers. Sainsbury’s has enjoyed a buoyant few months and has promised thousands more jobs at the company. Marks and Spencer, meanwhile, faces job losses and store closures as its woes continue. Elsewhere, the volatility in dairy prices means farmers faced a gloomy start to the year, while another top executive in the US meat sector has left the sector – this time at Tyson Foods. These are the top ten stories on just-food this week.
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UPDATE: UK: Sainsbury’s to create thousands of jobs
Sainsbury’s confirmed today (8 January) that it would look to create around 2,000 jobs in the next year after revealing its recent sales growth had continued during the autumn and Christmas.
UK: M&S to shut 27 stores; 1,200 jobs under threat
Marks and Spencer plans to close 27 stores and cut over 1,200 jobs as it looks to slash costs from the business after seeing sales slump over the last three months.
UK: Tesco announces GBP100m of price cuts
UK retail giant Tesco is investing GBP100m (US$147m) in a combination of permanent price cuts and promotions.
UK: Row bubbling over milk price cuts
Farmers’ union Dairy Farmers of Scotland has attacked some of the UK’s largest dairy processors over their simultaneous decision to cut the price paid to farmers for raw milk.
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By GlobalDataNZ: Global dairy price declines easing – Fonterra
International dairy prices are continuing to fall, although the rate of decline is starting to ease, according to New Zealand’s Fonterra.
US: Tyson CEO steps down
Dick Bond, president and chief executive officer of Tyson Foods, announced today (5 January) that he is leaving the US meat giant, effective immediately.
US: Wal-Mart cuts earnings outlook
Wal-Mart, the world’s largest retailer, cut its earnings forecast today (8 January) after posting Christmas sales that failed to meet expectations.
SWITZ/US: Emmi eyes US growth with Roth Käse buy
Swiss dairy group Emmi has reached a deal to take full ownership of US cheese specialist Roth Käse USA.
US: Whole Foods attracts more private equity investment
Whole Foods Market has attracted more private equity investment after US fund Yucaipa Cos. disclosed that it has bought a stake in the US organics retailer.
US: Retailers “to up pressure on pricing” – Supervalu CEO
Tension between food retailers and manufacturers is set to reach its peak in the next six months as retailers push for price reductions, Supervalu CEO Jeff Noddle has predicted.
