Unease and uncertainty has been provoked among international food retailers in India by new restrictive guidelines issued that limit the already-restricted foreign investment in the country’s organised retail sector.India’s retail sector has held back foreign direct investment (FDI) but many in the sector was expecting a gradual liberalisation of rules on the ability of local players to strike deals with overseas partners. Instead, the Congress-led government has taken an unexpected step... ...Read more »

Wal-Mart chairman Lee Scott announced at Fortune’s Brainstorm Green conference on Monday that the company is dedicated to greening its business practices, and emphasised the congruity between sustainability and profit. “We have approached sustainability from a business standpoint, not from the standpoint of altruism.  We believe that if we as a company focus on waste, we can make Wal-Mart a better company while at the same time being a better citizen,” he said in the panel interview. Mr... ...Read more »

Lars Olofsson, Chief Executive Officer and Board Member of Carrefour, has appointed Vicente Trius as Executive Director, Europe and member of the Group’s Executive Board, in charge of Belgium, Spain, Italy, Poland, Greece, Cyprus and Romania. Vicente Trius, a 52‐year‐old Spanish national, has spent most of his professional life at Wal‐Mart, where he was successively Vice‐President for International Operations, CEO, Brazil and CEO Asia. Until this year, he was Wal‐Mart’s Executive... ...Read more »

Wal-Mart has launched the index it uses to measure the “sustainability” of its suppliers in Canada.The retail giant’s local arm announced the move yesterday (10 February) among a series of initiatives it believes will make its business – and those of its suppliers – more sustainable. Wal-Mart’s index was first unveiled in the US last year and David Cheesewright, president and CEO of the retailer’s Canadian business, insisted the scheme would give its supply... ...Read more »

News of Wal-Mart’s latest sustainability push may have been lost amidst news of swine flu and economic recovery here in Australia, but their decision is likely have a major impact on the food and grocery sector around the world. Eco-labels For the last couple of years there has been talk of so-called ‘eco-labels’, which would highlight the environmental impact of each product on the grocery shelf. The notion has had its detractors, who point to issues of measurement, testing and... ...Read more »

Walmart, the world’s largest retailer, has reported plans to develop a worldwide sustainable product index that will see an eco-rating placed on all grocery products sold at their stores. The groundbreaking initiative, announced overnight during a meeting with 1,500 of its suppliers, associates and sustainability leaders, will establish a single source of data for evaluating the sustainability of products. “Customers want products that are more efficient, that last longer and perform... ...Read more »

Brand Finance, a leading independent brand valuation consultancy, has revealed their list of the 500 leading global brands, with Australia’s two largest supermarkets the only Australian brands in the food industry to make the list. All sectors were hit in 2008 by commodity price rises, the credit crunch, rising unemployment and tumbling share prices, the consultants noted, with an overall drop in brand value across the Global 500 for the year of 24%. The world’s most valuable brand was... ...Read more »

Wal-Mart Stores, the world’s largest retailer, has announced the settlement of 63 wage and hour class action lawsuits that have been pending against the company for several years.Each of the settlements is subject to approval by the trial court, and the total amount to be paid will depend on the amount of claims that are submitted by class members. Under the agreements, the total will be at least $352 million, but no more than $640 million. Also, as part of the settlements, Wal-Mart has agreed... ...Read more »

The world’s largest retailers are set to get much bigger over the coming five years as developing markets like Brazil and China spur growth. IGD’s latest report, Global Retailing: Preparing for Change, also predicts that the world’s third largest retailer, Tesco, will grow at a faster pace than French retailer Carrefour to see it claim second spot by 2012, with forecasts suggesting a compound annual growth rate (CAGR) of 11% and 7% for Tesco and Carrefour respectively between 2007... ...Read more »

Wal-Mart has announced the election of Mike Duke to succeed Lee Scott as President and CEO, effective February 1, 2009. The succession comes as the world’s largest retailer manages to post strong sales figures despite the troubles in the US. Discount retailers, and discount grocers in particular, have been among the few winners from global economic downturn, with the likes of Aldi making inroads in the UK and Australia as consumers look at ways to save money. “This management change occurs... ...Read more »