News

Sales at U.S. retailers declined less than expected in March in a sign that shoppers may be regaining confidence to open their wallets after more than a year of recession.

At least five new Maxima supermarkets to be opened in Latvia in 2009. The new retail stores will be local in Riga, in Riga District’s Pinki, Talsi (western Latvia) and Saldus (southwestern Latvia).

Pernod Ricard is putting debt-cutting at the top of its agenda as it refinances last year’s acquisition of Absolut vodka maker Vin & Sprit in still tough credit markets, and as its trading deteriorates.

While the world’s top food groups battle a slowdown this year, Nestle SA has the credentials to exploit the recession. In spite of the crisis, Nestle seem to have closed a succesful three-month term this year, and impressed investors by beating forecasts to see 2008 underlying sales grow 8.3 percent and, despite prospects of a tough 2009, it forecast annual sales growth of at least approaching 5 percent.

Tetra Pak, a world leader in food processing and packaging solutions, has announced net sales of Euro 8.8 billion in 2008 – up 5 percent from 2007 in comparable terms. Packaging Solutions reached €7.8 billion in sales in 2008 – an increase of 4.5 percent over 2007.

Louis Delhaize’s discount chain in Romania reported total sales of EUR120 million in 2008, accounting for 45% year-on-year growth, Piata magazine reported.