With this week’s headlines came further evidence that food manufacturers are feeling the impact of the global economic crisis, with Dairy Crest, Northern Foods and Tyson all warning of declining profits.
Go deeper with GlobalData
Retailers seem to be faring better in the challenging economy, with Sainsbury’s and Wal-Mart posting strong gains. Nevertheless, Tesco told just-food that it would delay plans to accelerate US growth due to difficult trading conditions.
News that might provide some respite for consumers came when TNS said that food inflation is slowing in the UK, while branded food manufacturers may draw comfort from Mintel’s prediction that consumers will cling to trusted brands in the economic crisis.
Meanwhile, another issue that made for interesting reading this week was the continuing obesity debate in the UK, where the government launched the Change4Life anti-obesity drive and just-food brought you coverage from a debate on the topic hosted by the Food and Drink Federation and Foresight.
Here are the ten most-read stories on just-food this week.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataUK: Profit warning sends Dairy Crest shares tumbling
Shares in Dairy Crest tumbled this morning (10 November) after the company warned annual profits would fall by around 10% as consumers become more “value driven”.
UK: Northern Foods posts drop in H1 profits
UK food group Northern Foods today (11 November) posted a 16% drop in six-month pre-tax profits due to adverse currency movements and investment in its brands.
US: Tyson Q4 earnings up as FY profits tumble
US meat giant Tyson Foods today (10 November) posted a rise in fourth-quarter earnings but saw annual profits tumble due to costs linked to plant closings.
US: Wal-Mart cuts outlook despite gains
Wal-Mart has cut its full-year earnings guidance, despite posting an improved performance in the first nine months of the year, on concerns that currency exchange will have a negative impact on its international business.
UK: Food inflation slows – TNS
Food inflation has started to slow, according to the latest figures from market analysts TNS Worldpanel.
UK: Sainsbury’s profits up despite “challenging” economy
UK retailer Sainsbury’s today (12 November) posted a rise in its half-year profits despite the “challenging” economic conditions.
US: Fresh & Easy reins in expansion plans
Fresh & Easy, the US unit of Tesco, has indicated that it will put plans to accelerate expansion in the US on hold due to the constricting economic conditions in the market.
UK: Consumers cling to “familiar” brands in crisis – Mintel
Consumers are likely to cling to familiar brands following a year of economic turmoil and food scares, according to predictions from research analyst Mintel.
UK: Change4Life anti-obesity drive launched
Change4Life, a food industry-backed scheme drawn up to help in the fight against obesity, has been launched by the UK government.
Quote, Unquote: Foresight – one year on
It has been a year since the publication of the Foresight report on obesity in the UK, a government-backed study that painted a bleak picture of the possible future health of the country – and called for a multi-stakeholder approach to tackle the problem.
