Hostess Brands Inc. announced Monday that, subject to court approval, it has retained Gregory F. Rayburn of Kobi Partners LLC as its chief restructuring officer (CRO). Rayburn will report to Hostess President and CEO Brian Driscoll and will assist Driscoll in managing the company’s restructuring under Chapter 11. Rayburn has more than 29 years experience […]
Tag: financial
Posted in, Southeast
Publix DMs Recognized for Promoting Diversity
Each year Publix Super Markets presents a district manager from each of its retail divisions and one support manager with a President’s Award, denoting success in meeting equal opportunity goals, displayed dedication to the dignity, value and employment security of Publix associates, and maintained a work environment that values diversity and is free from discrimination. […]
Posted in, National, Store News
Kroger Analysts at Odds
Standard & Poor’s (S&P) downgraded Kroger Co.’s stock Monday from “hold” to “sell,” citing rising price competition, the Los Angeles Business Journal reports. The move follows an upgrade by Citigroup on Friday, from “neutral” to “buy,” citing higher pharmacy sales and market share gains. S&P lowered its target price from $25 to $21, while Citi […]
Posted in, National, Perishables
Chicken Prices Expected to Rise
A shortage of poultry will drive up chicken prices for consumers, according to the recently released USDA Agricultural Projections to 2021 report and featured in the February issue of Food Nutrition & Science. The USDA predicts a decline in this year’s poultry supply will drive up prices, however, the report suggests it’s temporary, and in […]
Posted in, National
Procter & Gamble Cutting 5,700 Jobs
Procter & Gamble (P&G) will cut 5,700 jobs by the end of fiscal 2013 as part of a $10 billion effort to reduce costs. CEO Bob McDonald told analysts today, Feb. 24, at the Consumer Analyst Group of New York conference that the cuts will come from non-manufacturing positions, Cincinnati’s Business Courier reports. The reduction […]
Posted in, Executive News, National
The Pantry Discloses CEO Hatchell’s Compensation Package
Dennis Hatchell, the newly-appointed chief executive of convenience store operator The Pantry Inc., has been offered a base salary of $750,000, plus stock options worth nearly $436,000 and a $46,100 sign-on bonus when he begins his work with the company on March 5, according to company filings with the U.S. Securities and Exchange Commission. Hatchell’s […]
Posted in, Marketing News, Midwest, Southeast
Chiquita Replaces CFO, Posts $16M Loss In 4Q
Chiquita Brands International Inc., which is moving its headquarters to Charlotte, N.C., from Cincinnati, Ohio, says Brian Kocher will replace Michael Sims as the company’s CFO. The Charlotte Business Journal reports that Sims is leaving Chiquita this month to become CFO of AdvancePierre, a Cincinnati-based producer of cooked protein and sandwich products. Chiquita is promoting […]
Posted in, Center Store, National
Malt-O-Meal Co. Changes Corporate Name To MOM Brands
Malt-O-Meal® Co. has introduced its new MOM Brands™ corporate name and identity in a move to better showcase its growing house of brands to retailers and consumers, and to better reflect the company that it is today, according to a news release. With the introduction of the MOM Brands corporate name, the company will reinforce […]
Posted in, Southwest
Whole Foods Same Stores Sales Increase Nearly 9%
by Terrie Ellerbee/associate editor Whole Foods Market started off fiscal year 2012 with an 8.7 percent increase in sales in stores open one year or more. The Austin-based company expects same store sales to increase 9.4 percent in the second quarter. Even in stores 15 years old and older, Whole Foods saw same store sales […]
Posted in, Beverage News, Marketing News, National
MillerCoors Profits Up 32.5 Percent
MillerCoors LLC recorded a 32.5 percent increase in profits for the fourth quarter on growing market share for its Coors Light brand and ongoing cost savings related to the merger of Miller Brewing and Coors Brewing, reports the Denver Business Journal. SABMiller plc of London and Molson Coors Brewing Co. of Denver, Colo., the co-owners […]
Posted in, National
Kraft Foods Announces Executive Transition
Kraft Foods’ Marc S. Firestone, 52, EVP of corporate and legal affairs, and general counsel, will leave the company in April to rejoin Philip Morris International (PMI) in Lausanne, Switzerland. Firestone previously worked at PMI before coming to Kraft Foods in 2003. Gerhard “Gerd” W. Pleuhs, 55, will succeed Firestone. Pleuhs currently serves as SVP […]
Posted in, Beverage News, National, Organic Natural
Organic Food Sales Hit High in 2011
For the first time in four years since undertaking its annual Organic Product Survey, TABS Group (www.TABSGroup.com) found a significant increase in American consumers reporting they purchased organic products and a jump in overall sales. Specifically, the percentage of all consumers saying they purchased organics rose from 39.8 percent in January 2011 to 41.8 percent […]
Posted in, West
Harmons Grocery Opening Today in Salt Lake City
Harmons Grocery will open a new 70,000-s.f. custom-designed urban grocery store in downtown Salt Lake City, Utah, today, Feb. 15, with plenty of fan fare and festivities. Special care has gone into making Harmons’ 16th store an inviting hub for the city where people working and shopping downtown can find the best tasting and freshest […]
Posted in, Marketing News, Southeast
Anheuser-Busch Joins Effort to Modernize Mississippi’s Beer Laws
Anheuser-Busch and its independent distributors in Mississippi have joined forces with Raise Your Pints and other members of the Mississippi Malt Beverage Association to support legislation that would raise the alcohol-by-weight (ABW) limit on beer made and sold in the state from 5 to 8 percent. Mississippi currently is the only state in the country […]
Posted in, Midwest, Southeast, Southwest
Kroger, Teamsters Ratify Agreements
Kroger Co. associates working at four distribution centers and two dairy manufacturing facilities have ratified new labor agreements with the International Brotherhood of Teamsters. The new contract includes a master agreement that outlines healthcare and pension benefits and local supplemental agreements that cover wages for three years. About 1,400 employees of the Cincinnati-based grocery retailer […]
Posted in, National
Teamsters Authorize Hostess Strike Pending Court Action
The Teamsters Union has announced that its members working at Hostess voted overwhelmingly—more than 90 percent in favor—to authorize a strike if Hostess is granted its motion to impose unfair contract terms as part of the bankruptcy process. Teamster local unions that comprise the national bargaining unit for more than 7,500 Hostess employees conducted strike […]
Posted in, National
NMA, NAMP Consolidation Officially Approved
The National Meat Association (NMA) and the North American Meat Processors Association (NAMP) made their consolidation into a new association official last week. The NAMP Board approved the consolidation agreement and by-laws of the new association in a special meeting Friday afternoon. The NMA Executive Committee, acting on behalf of the NMA Board, approved the […]
Posted in, Equipment & Technology, Marketing News, National
Report Outlines Opportunities for Grocers to Gain New Customers
The 2012 National Grocers Association (N.G.A.) Consumer Panel Report has been released, containing more than 75 shopping attributes to help independent grocers grow their businesses. The wide-ranging national consumer study, conducted by SupermarketGuru.com for N.G.A., and sponsored by Valassis, digs deep to show differences in the demographics and lifestyles of grocery consumers. As in the […]
Posted in, Beverage News, Northeast, Shelby Content
PepsiCo Cutting 8,700 Jobs, Increasing Ad Dollars
The Associated Press reports that PepsiCo plans to cut 8,700 jobs around the world and ramp up advertising in North America in an effort to reduce costs. Though the company exceeded fourth quarter expectations, it predicted a decline in 2012 earnings. PepsiCo, which produces such beverages as Gatorade and Mountain Dew along with numerous other […]
Posted in, Northeast
Safeway Selling Three Genuardi’s Stores to Weis Markets
Pleasanton, Calif.-based Safeway Inc. has reached a definitive agreement to sell three of its Genuardi’s stores in Pennsylvania to Weis Markets Inc. Safeway will continue to operate these stores until the transaction closes, and the company is working through an orderly transition for the stores, according to a news release. The transaction is subject to […]