Retailers, consumers and prices
Check out what we’re hearing from top executives attending our Food and Agriculture Summit in Chicago this week.
Kantar Retail Americas Chief Executive Ken Harris, a top industry consultant, said he sees a healthy appetite for strategic acquisitions in the food and grocery space this year as improving credit markets and a recovering U.S. economy tempt buyers.
“It’s not about making a big acquisition, but you’ll see some smart acquisitions starting to happen over the next six to 12 months,” said Harris, who advises food manufacturers and retailers on their business models and acquisition strategies.
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Check out sluggish results in the U.S. food sector.
Fast food giant McDonald’s and Kroger, the largest U.S. grocery chain, saw shares decline 2.5 percent and 10 percent, respectively, after reporting weak results.
McDonald’s said same-store sales at its U.S. restaurants slipped 0.6 percent in November, marking the second straight monthly decline. Following Yum Brands’ recent weaker-than-expected sales, it was the latest sign that the fast-food sector that had performed well through most of the recession was weakening.