Client Newswrap: Wal-Mart’s ‘new normal’ and Drambuie cocktails

Retailers

Wal-Mart boss Mike Duke has claimed that his business has “more opportunities now than at any time in its history”. Duke, who is chief executive of the supermarket giant, told shareholders at the Asda owner’s annual meeting in Arkansas that the economic crisis had created a “new normal” in which consumers wanted to save money. “Never has there been a time when the strengths of our company were more aligned with what the world needs than right now,” he said.

Boots has hired a former HBOS banker Andy Hornby as its new chief executive. The retailer tried to poach Hornby for the role in 2003, but only now following the collapse of the UK economy has it proved successful. Hornby was chief executive of HBOS last Autumn when it merged with Lloyds TSB.

Brand owners

Nestlé and Cadbury are taking action to secure the supply of cocoa following major disruption to supply chains and price volatility, according to reports. The price of cocoa from the Ivory Coast is reported to have peaked at more than £2,100 per tonne in March.

Drambuie is to unveil a new ad campaign and bottle design in a bid to appeal to younger consumers. In particular, the group wants to persuade younger drinkers that its whiskey can be mixed with ginger or soda and lime to make longer drinks.

Procter & Gamble has announced that it will no longer sell cosmetics brand Max Factor in the US. The long-established range was created 100 years ago by Polish Jewish make-up artists for the Russian ballet, Maximilian Faktorowicz. Max Factor will continue to be sold in other countries including the UK.
   
Apple is rumoured to be launching its new iPhone at a much reduced price, according to reports. It is believed the company will launch the new iPhone up to $100 less than the existing phone’s $199 price tag. Production on the new phones is due to start in July.

Budget airline Ryanair is floating the idea of asking customers to load their own baggage onto planes. By asking customers to load their own bags, Ryanair could do away with baggage handlers altogether. The news followed the announcement that the airline had posted its first loss since it floated 12 years ago.

Reports claim that a Burger King franchise owner in Memphis has entered into a dispute with the fast-food giant over roadside signs declaring “Global warming is baloney”. Burger King has ordered the franchise to takes the signs down, but as yet they have not been removed. The dispute continues.

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