Lidl chance

German discount chain Aldi has a clear advantage in Europe over its rival Lidl both in terms of store numbers and store performance, according to IGD. 

In a report on the grocery discount market IGD said number two chain Lidl stood little chance of knocking Aldi off its top spot. 

However, IGD said that Lidl would be in a position to "increasingly challenge" Aldi's overall leadership in Europe, should Aldi choose to focus more on its non-European development. 

Business manager of international research at IGD Louise Spillard warned Lidl that taking on Aldi in its home market would be "a tough battle". 

She added: "Lidl is better advised to focus on its other European markets. It may then overtake Aldi in terms of total store numbers across Europe." 

Kmart d-day 

Troubled US retailer Kmart said president of the company Julian Day would take on the additional post of chief executive officer and that it hoped to emerge from Chapter 11 bankruptcy protection on about April 30. 

Day succeeded James Adamson, who will continue as chairman through the final stages of Kmart's reorganisation. 

Kmart added that it had severed "employment relationships" with all remaining executives who received special retention loans in 2001 under former CEO Charles Conaway's tenure. The company had begun to implement the reorganised management structure in anticipation of its emergence from Chapter 11, Kmart added. 

Feta fight 

Greece is set to fight Denmark and France's challenge to the European Court of Justice's ruling that it has an exclusive claim to the feta cheese label. "We are fully prepared," said Greek deputy agriculture minister Fotis Chatzimichalis. 

Hard market 

Aussie winemaker Southcorp warned that less favourable customer and product mix factors had "adversely affected revenue growth" and that it had dropped its earnings forecast by 15%. 

Southcorp blamed increasingly competitive market conditions within the global wine sector and said it expected earnings before interest, tax and amortisation to fall to A$287m for the year to June 30.