- Reuters reports that Kraft CEO Roger Deromedi has told the Reuters Food Summit in Chicago that “transgenic crops will gradually evolve to play an important role in nutrition and the environment.” However, while Deromedi said that the use of bioengineered food will expand, he also conceded that it will only do so to the extent that consumers find such moves acceptable.
- At the same summit, Deromedi observed that most grocers are so focused on perimeter fresh foods departments that they ignore center store. "Importantly, the onus is on us to work with traditional retailers to make the center of the store more exciting," Deromedi said.
- Less than two years after acquiring the Lands’ End catalog company for $1.9 billion, Sears reportedly is putting the division back on the market – and is willing to take as little as $1.2 billion for it.
The move comes as Sears and Kmart are about to complete their $11 billion merger.
- KC's View:
Could this be yet more evidence that the new, combined Sears-Kmart structure is more interested in real estate than retailing?