Research & Analysis

LONDON - Sales of organic food in the UK are continuing to increase faster than in any other European country, according to a report cited by BBC news.

FLORIDA, N.Y. - Big V Supermarkets Inc. said today that, as part of its effort to work with its creditors toward a successful resolution of its chapter 11 case, the company has entered into a term sheet with Wakefern Food Corp., which, subject to the completion of definitive documentation and approval by the bankruptcy court, is intended to form the basis of a plan of reorganization for Big V.

MALVERN, Pa. - Acme Markets, the Eastern Division of Albertson's, has been named a winner of the Chesapeake Businesses for the Bay 2001 Excellence Award.

NEW YORK - Philip Morris Cos. announced Thursday that it will seek shareholder approval in April to change its name to Altria Group Inc. in order to distinguish the company from its tobacco business, Dow Jones reported.

California grocery chain Trader Joe's has agreed to ban genetically modified ingredients from its thousands of private-label products in response to consumer pressure, the Los Angeles Times reported today.

AUSTIN, Texas - Whole Foods Market Inc. on Wednesday reported sales and earnings for the 13-week quarter and 53-week fiscal year ended September 30, 2001. Sales for the quarter increased 21% on an adjusted basis over the prior year, slightly above the company's 15% to 20% guidance.

MINNEAPOLIS - International Multifoods Corp. announced on Tuesday that it has completed the acquisition from General Mills of the Pillsbury desserts and specialty products businesses. The company paid about $304.5 million in cash for the businesses, which are expected to add approximately $500 million in annual net sales.

MONTVALE, N.J. - The Great Atlantic & Pacific Tea Company Inc. (A&P) today announced it will close 39 stores to improve operating results. A majority of the closings will take place before the end of the fiscal year (Feb. 23, 2002).