The Atlanta-based beverage giant, Coco-Cola, reported that its profit for 2011 was hurt by restructuring charges and other charges. It also reported a program to save $550 to $650 million by the end of 2015 and reinvest that savings into systemwide brand building initiatives and to mitigate potential incremental near-term commodity costs as necessary, the […]
Tag: financial
Posted in, Southeast
Southern Family Markets To Come Under New Ownership
A new company has been formed to purchase all 57 Southern Family Markets (SFM) stores. Belle Foods LLC was formed in Birmingham, Ala., by William “Bill” White, a longtime industry veteran who has worked in both the Bruno’s and Piggly Wiggly organizations. According to the Feb. 7 announcement, Belle Foods is buying stores in Alabama, […]
Posted in, National
CRA: Sugar Industry’s Strategy to Pose as ‘Safer’ Sweetener
In a bid to revive litigation claims that a federal judge had dismissed, the refined sugar industry’s latest maneuver actually underlines its true objective: to confuse American consumers by suggesting that cane and beet sugar is healthier than sugar made from corn—at least according to the Corn Refiners Association (CRA). “The refined sugar industry’s latest […]
Posted in, Southeast
Chiquita Offers Incentives for Execs to Move to Charlotte
Chiquita Brands International Inc. is offering incentives to entice its executives to move to Charlotte, N.C., reports The Charlotte Business Journal. In a securities filing Tuesday, the company spelled out the relocation benefits it will offer key employees who choose to transfer. Those benefits include payment for the costs of searching for a new residence […]
Posted in, Northeast
Giant Food Acquires Two Fresh & Green’s in Baltimore Region
Giant Food of Landover, Md., has entered into a definitive agreement with Mrs. Green’s Management Corp. to acquire two of the company’s Fresh & Green’s supermarket locations currently serving the Baltimore market. The following locations are part of this acquisition: • Fresh & Green’s of Hampden, 1020 West 41st St., Baltimore; and, • Fresh & […]
Posted in, Equipment & Technology, National
Mobeam Raises $6.4M For Mobile Coupons
Mobeam Inc., a San Francisco technology platform for delivering coupons to mobile phones, has beamed a $6.4 million Series A round of venture capital on board from investors, reports the San Francisco Business Times. The company, founded in April 2010, has added new investor DFJ Athena, a Korea-focused venture fund affiliated with Draper Fisher Jurvetson, […]
Posted in, Southeast, Southwest, West
More Than 500 Walmart Women File EEOC Discrimination Charges
In a move to protect their right to pursue individual and class-action pay and promotion claims against Walmart Stores Inc., more than 500 former and current Walmart women employees who had been part of a national class-action lawsuit have filed a charge of discrimination against the retailer with the U.S. Equal Employment and Opportunity Commission […]
Posted in, Southeast
Carney To Assume CFO Job Following BI-LO, Winn-Dixie Merger
Brian Carney, current EVP and CFO of BI-LO, will soon be taking on a bigger role—pending the merger of the South Carolina-based grocery with Winn-Dixie. Carney will assume the CFO position of the combined companies. Winn-Dixie CFO Bennett Nussbaum is leaving the position to become integration lead following the completion of the merger. Before joining […]
Posted in, National
Food Groups Urge Administration to Reject New Food Taxes
The American Frozen Food Institute (AFFI) and a coalition of more than 30 food groups urged senior administration leaders to develop a fiscal year 2013 budget request that fully funds U.S. Food and Drug Administration (FDA) food safety programs without saddling consumers and food makers with burdensome new taxes or fees. “Food safety is the […]
Posted in, Midwest
Roundy’s to Price IPO at $10 to $12 Per Share
The parent company of Pick ‘n Save and other supermarket chains hopes to sell its stock to the public at $10 to $12 per share, according to documents filed last week with the U.S. Securities and Exchange Commission, the Journal Sentinel reports. The privately held Roundy’s Parent Co., which also operates the Copps and Rainbow […]
Posted in, Southwest
Arizona Bill Requires ID to Get Food Stamps
Conservatives traditionally don’t like the idea of national identification cards, citing Orwellian “big brother” fears. Those same concerns aren’t always held when it comes to trying to keep illegal immigrants from getting jobs or welfare benefits, reports the Phoenix Business Journal. Some Arizona Republican lawmakers have introduced a new bill in the legislature requiring those […]
Posted in, Southeast, The Kroger Co.
$2.3M Verdict Returned In Kroger Slip-And-Fall Lawsuit
A jury in Gwinnett County, Ga., has returned a verdict of $2.3 million in damages in a slip-and-fall lawsuit against Kroger Co. after a judge determined Kroger destroyed and manipulated important video evidence involving an injured customer, The Atlanta Journal Constitution reports. The lawsuit arose out of a May 2008 incident in which Craig Walters, […]
Posted in, National, Southeast, Suppliers
Smithfield Completes 100th Donation in Hungry Homes Tour
Virginia-based Smithfield has completed its 100th donation on its Helping Hungry Homes® tour—totaling more than 14 million servings of protein donated to local food banks across the country. “We’ve traveled from Miami, Florida, to Anchorage, Alaska, bringing hard-to-source protein to wonderful food assistance organizations and have just made our 100th tour donation,” said Dennis Pittman, […]
Posted in, Midwest
Ohio’s Constantino’s Market Highlights Success of SBA Loans
Constantino’s Market in Cleveland, Ohio, has used three loans from the U.S. Small Business Administration (SBA) to expand its successful business and create 31 jobs, with the expectation of creating up to 50 more when its new store opens later this year near University Circle. U.S. Sen. Sherrod Brown (D-OH) and U.S. Small Business Administrator […]
Posted in, Southeast
Publix Coming to Nashville Neighborhood
Boyle Investment Co. has kicked off a $9.5 million redevelopment of The Crossings, a shopping center in Nashville’s Donelson area, to make way for a new Publix Super Market, the Nashville Business Journal reports. The 110,229-s.f. shopping center is located at the northwest corner of Lebanon Pike and Fairway Drive, one block away from a […]
Posted in, Equipment & Technology, National
FMI: PINs Imperative as New Chip Card Technology is Adopted
As the U.S. migrates to Chip card technology for payments, it will be imperative that card issuers enable a PIN (personal identification number) for their cards to prevent fraud. Liz Garner, director of government relations for the Food Marketing Institute (FMI), noted, “With recent announcements by the card networks, and more anticipated this spring, it […]
Posted in, Equipment & Technology, Shelby Content, Southeast
GE Capital Provides Credit Facility to Navarro Discount Pharmacy
GE Capital, Corporate Retail Finance is now the administrative agent and sole lender on a $65 million asset-based credit facility for Navarro Discount Pharmacy, the largest Hispanic-owned pharmacy chain in the U.S. and an MBF Healthcare portfolio company. The financing will be used to refinance debt and for general corporate purposes. Founded in 1960, Miami-based […]
Posted in, Northeast
Grocery Workers Mobilize for Giant, Safeway Bargaining
Demanding that Giant and Safeway “share the fruits of our labors,” UFCW Local 400 stewards and activists are mobilizing for the start of bargaining Wednesday, Jan. 11, on a new contract affecting 17,000 workers in the Washington, D.C., area. “With their current contract expiring on March 31, 2012, and with both companies enjoying strong profits […]
Posted in, Center Store, Southeast, Southwest
Hostess Likely to File for Chapter 11 Bankruptcy
Hostess Brands Inc. is getting ready to file for Chapter 11 bankruptcy, its second such filing, sources told The Wall Street Journal. Privately held Hostess has about $860 million in debt and has been squeezed by high labor costs and rising ingredient prices, the sources said. The Irving, Texas-based company, previously called Interstate Bakeries Corp., […]
Posted in, National, Organic Natural
Beanitos Gets Investment Boost
Beanitos brand bean chips has announced a substantial investment by 2x Consumer Products Growth Partners, and managing partners Sharon Kieffer and Andy Whitman joined the company’s board of directors. In addition, Sweet Leaf Tea founder and former CEO Clayton Christopher has invested in Beanitos Inc. and joined the board. Terms of the investments were not […]