US-based cereal giant Kellogg has reported a 1.7% decline in net profits for the fourth quarter of 2009, falling short of analyst expectations. Earnings for the period came in at US$176mn, down from US$179mn a year ago. Revenues came in 1% lower at US$2.9bn on the back of a 1.4% fall in volumes. Kellogg has attempted to downplay the slide in volumes, attributing it to a shift... 2010-02-08

Leading Australian retailer Woolworths has announced sales growth of 6% to AUD27.2bn (US$23.6bn) for the first half of fiscal 2010 (27 weeks ending January 3 2010). The company attributed the solid growth figure to the tailwinds of the government's fiscal stimulus measures and to its competitive price focus which helped prop up consumer demand. However, with Woolworths' Christmas... 2010-02-08

French mass grocery retail (MGR) giant Carrefour is struggling to find outright buyers for its three Russian hypermarket units, according to Reuters. Carrefour announced its exit from Russia in October 2009 just four months after launching its first store. It failed to make significant headway after failing to close a deal for upmarket supermarket retailer Sedmoi Kontinent. With... 2010-02-08

South Africa's Illovo Sugar - Africa's leading sugar and cane producer - has announced plans to invest ZAR6bn (US$790.2mn) over the next five years as it looks to strengthen sugar production by nearly 50% to between 2.mn and 2.7mn tonnes per annum. Following the EU's decision to call time on its guaranteed price scheme to African, Caribbean and Pacific (ACP) countries, BMI expects... 2010-02-08

French luxury goods group LVMH has reported a 14% decline in like-for-like sales at its wine and spirits division during 2009. Revenues came in at EUR2.74bn, compared to EUR3.12bn the previous year, with the fall attributed to a slump in demand for Champagne and a smaller fall in demand for Cognac. The drop in revenues led to a 28% decline in profits at the division, which came... 2010-02-08