Johnston said he was surprised at the lack of consolidation in the grocery industry. "Fifty percent of the buying in the industry is done at regional chains and independent grocers, so there will be continued growth through consolidation," he told the Boston Globe, adding, "We will be one of the consolidators."
Consumers started spending again in September, with retail sales jumping a healthy 1.5%, the Commerce Department said. Analysts say the positive news means interest rates will likely be hiked in December.
Sources close to Kraft Foods say the food company has put its Altoids and Life Savers brands up for sale, with Hershey Foods, Cadbury Scweppes and Wm. Wrigley Jr. all seen as potential buyers. The two brands could fetch as much as $1 billion, and their sale reflects Kraft's decision to focus on its cookie, cracker and cheese brands.
With low-carb dieting appearing to be on the decline, journalism professor Michael Pollan examines other dieting trends in American history and how we view them today. He says America's fascination with food is the paradox of "notably unhealthy people obsessed by the idea of eating healthily."