In New York on Friday (19 February) Deloitte released the results of a benchmarking study designed to quantify store operations and general and administrative (SGA) cost-improvement opportunities in retail. The study goes well beyond an analysis of back-office functions to cover retail-specific functions such as store operations, merchandising, supply chain and marketing across 120 different performance metrics. “In a retail market characterized by diminished consumer spending, cost-management... ...Read more »

Now in its 9th year, the Victorian Manufacturing Hall of Fame showcases the excellence that continually elevates Victoria to the next level of manufacturing. The awards include excellence in manufacturing, the industry nominated young manufacturer of the year, and lifetime achievement by individuals who have made outstanding contributions to sustained manufacturing excellence. Since the hall of fame’s inception in 2001, 96 companies, 19 honour roll recipients, two lifetime members and six outstanding... ...Read more »

Nestle-owned candy maker Wonka is to launch its first range of premium confectionery for the US market. The Wonka Exceptionals line are “inspired” by the famous story and include; Wonka Chocolates, the Wonka Scrumdiddlyumptious Chocolate Bar and Wonka Fruit Jellies and Fruit Marvels, the firm said today (19 February). The Wonka Chocolates collection includes three varieties, each available in full-sized tablet bars and bags of individually wrapped minis. They will debut nationwide from... ...Read more »

Nestle on Friday (19 February) became the latest of the largest food manufacturers to set out its stall for further expansion in the world’s emerging markets. The company, the world’s largest food maker, emphasised its plans for Latin America, Asia and Africa after publishing a set of full-year results that the group claimed showed it had outperformed the market in 2009. CEO Paul Bulcke said emerging markets in those regions accounted for 35% of Nestle’s annual turnover. The business,... ...Read more »

The Federal Government should follow South Australia’s lead and develop a long-term plan to boost the food and grocery industry’s international competitiveness and growth, the Australian Food and Grocery Council (AFGC) urged today.The call follows the release of the South Australian Food Strategy 2010-2015 by the SA Government and the State’s food industry which covers the entire food sector from producers and processors to retailers. AFGC Chief Executive Kate Carnell said the Federal... ...Read more »

Warrnambool Cheese and Butter Factory (WCB) today announced the appointment of David Lord as its new Chief Executive Officer and Managing Director. After 14 years with Parmalat Australia, with the last seven years as Managing Director and CEO, David will join WCB as CEO in June this year as part of a planned transition from the interim CEO, John McLean. Frank Davis, Chairman of WCB said that he and the Board were delighted to have attracted an executive of the calibre and experience of David.  “David... ...Read more »

Australian dairy company Warrnambool Cheese and Butter Factory (WCB) on Friday (19th February) rejected a second bid from rival firm Murray Goulburn. The WCB Board unanimously rejected the revised bid of $4.35 cash per share, which was higher than Murray Gouburn’s earlier bid, which was said to be ‘at or below’ $4 per share. WCB’s stock closed at $4 on the Australian Stock Exchange on Friday, however the WCB Board maintained that Murray Goulburn’s latest offer did “not... ...Read more »

The latest NAB Quarterly Agribusiness Survey shows post-farmgate conditions and confidence declined in the December quarter, as weak domestic and export demand led to deteriorating trading conditions and profitability. Demand was reported as the major concern for agribusiness respondents with 35 per cent expecting it to be the main constraint to profitability over the next 12 months. NAB’s General Manager of Agribusiness, Khan Horne, said that agribusinesses were feeling the pinch due to the... ...Read more »

Claims by Choice that Australian foods containing Genetically Modified (GM) ingredients do not have to be labelled as GM are false and misleading, according to the Australian Food and Grocery Council (AFGC). Choice claimed today that Australian supermarket shelves were “full” of foods with ingredients from GM crops, such as soy, corn, canola and cotton that were not labelled “genetically modified”.  Choice says that lax food labelling laws make it almost impossible for those... ...Read more »

The Australian Competition and Consumer Commission today issued a Statement of Issues on the proposed acquisition of Goodman Fielder Limited’s commercial edible fats and oils business by Cargill Australia Ltd. The Statement of Issues seeks further information on certain competition issues which have arisen from the ACCC’s market inquiries to date. Goodman Fielder is the largest supplier of refined edible oils and fats in Australia, while Cargill is the third largest supplier.  According... ...Read more »