PepsiCo is mulling 4,000 job cuts and eliminating its 401(k) match as a way to help earnings, reports the New York Post, citing sources close to the situation. The Memphis Business Journal says the job cuts would total just more than 1 percent of Purchase, N.Y.-based Pepsi’s 300,000 workers globally. The beverage company offers both […]
Tag: financial
Posted in, National
Deadline Looms in Lawsuit Against Diamond Foods
Hagens Berman, a Seattle-based investor-rights class-action law firm, reminded investors Tuesday, Jan. 3, that only a couple of days remain before the Jan. 6 lead plaintiff deadline in a securities class action filed against Diamond Foods. Investors who purchased shares between Dec. 9, 2010, and Nov. 4, 2011 (the “class period”), with losses exceeding $500,000 […]
Posted in, Midwest
ConAgra, General Mills Optimistic for New Year
Omaha, Neb.-based ConAgra Foods Inc. and Minneapolis-based General Mills Inc. both are banking on earnings growth in the second half of their fiscal years, following muted first-half results with margins down from higher costs and sales volume crimped by rising prices, reports The Wall Street Journal. On Dec. 20, “the two packaged-food giants posted double-digit […]
Posted in, Corporate Store News, National
Kroger To Merge Four Pension Funds
In a move expected to reduce Kroger Co.’s annual pension contribution expense and secure pension benefits for more than 65,000 employees, the Cincinnati-based grocer will merge four of the UFCW/multi-employer pension funds into a new fund Jan. 1, according to the Los Angeles Business Journal. Kroger expects to contribute about $650 million to the new […]
Posted in, National, The Independent Perspective
The $1.5 Trillion Question: What Happens Nov. 23?
Come Nov. 23, most grocers will have little on their minds besides serving holiday shoppers and maximizing the end-of-Thanksgiving sales. Meanwhile, in Washington, thoughts of drumsticks and stuffing will have to take a back seat as the primary focus will be on the 12-member deficit reduction commission which must produce at least $1.5 trillion in […]
Posted in, Midwest
Brynwood Partners Acquires Pearson Candy Co.
On Aug. 22, Brynwood Partners VI L.P. announced that it acquired St. Paul, Minn.-based Pearson Candy Co. Terms and conditions of the transaction, which closed on Aug. 22, were not disclosed. Pearson, previously owned by Larry Hassler and founded over 100 years ago, is a leading manufacturer and marketer of widely recognized confectionery brands including […]
Posted in, Southeast
Winn-Dixie to Convert SaveRite Stores
Winn-Dixie Stores Inc. has announced that it will convert all SaveRite-branded grocery stores to conventional Winn-Dixie-branded stores and discontinue the SaveRite banner. “Phasing out the SaveRite banner makes sense and supports Winn-Dixie’s neighborhood marketing strategy. For several years, Winn-Dixie’s business strategy has placed an emphasis on merchandising to the needs, tastes and preferences of local […]
Posted in, National
Same-Store Sales Up 8.4 Percent at Whole Foods Market
Whole Foods Market reported its sixth consecutive quarter of same-store sales growth of 7.8 percent or higher on July 27.
Posted in, West
Stater Bros. Holdings Announces Increased Sales
On Aug. 9, Jack H. Brown, chairman, president and CEO of Stater Bros. Holdings Inc., announced financial results for the 13-week and 39-week periods ended June 26. The company’s consolidated sales in the 13 weeks ended June 26 were $939 million up $39 million or 4.33 percent from the 13 weeks ended June 27, 2010. […]
Posted in, National
Kraft Announces Plan to Create Two Independent Companies
The board of directors at Kraft Foods intends to create two independent public companies: A high-growth global snacks business with estimated revenue of approximately $32 billion and a high-margin North American grocery business with estimated revenue of approximately $16 billion.
Posted in, Southeast
Publix Reports Sales Increase of More Than 5%
Lakeland, Fla., based Publix’s sales for the second quarter of 2011 were $6.6 billion, a 5.8 percent increase from last year’s $6.2 billion.
Posted in, Midwest
Spartan Stores Sales Up 4.4 Percent
Grand Rapids, Mich.-based Spartan Stores Inc., a leading regional grocery distributor and retailer, on July 28 reported financial results for its 12-week first quarter ended June 18, 2011.
Posted in, West
New Rules May Force Egg Prices Higher
Enjoy the price you pay for eggs today, because they are likely going up according to a July 21 report in the Phoenix Business Journal. An agreement between the Humane Society of the United States and the United Egg Producers could result in additional costs for farmers, including the Valley’s Hickman’s Family Farms, as new […]
Posted in, Equipment & Technology, National
How to ‘Benefit Disproportionately’ from the Current Economic Climate
Willard Bishop: Use private label, cost control, smart negotiating tactics to grow market share by Terrie Ellerbee/associate editor Traditional supermarkets are losing market share as consumers move to other formats, like supercenter and dollar stores, according to consulting firm Willard Bishop in its The Future of Food Retailing 2011 report. Traditional grocery formats, including limited […]
Posted in, Southwest
Arkansas Roundup July 2011
Wal-Mart US Comp Sales Down for Eighth Straight Quarter Bentonville-based Wal-Mart Stores Inc.’s net sales were $103.4 billion in the first quarter of fiscal 2012, an increase of 4.4 percent from $99.1 billion in the first quarter last year. The Bentonville-based mega-retailer reported earnings results on May 17. Walmart U.S. same store sales declined for […]
Posted in, Northeast
A&P Completes Auction of 25 Superfresh Stores
Montvale, N.J.-based Great Atlantic & Pacific Tea Co. Inc. (A&P) recently completed the auction of 25 southern Superfresh locations, as it continues to fully implement its comprehensive financial and operational restructuring. The winning bids, which are subject to approval from the bankruptcy court before the sales would be completed, will be listed in motions of […]
Posted in, Midwest
Supervalu 4Q Sales Slip Nearly 6 Percent
Company lost $1.5B in FY11 Supervalu Inc. continues to “rightsize” itself, but reported a slip in net sales and negative 5 percent same-store sales in the fourth quarter. Net sales in the fourth quarter of fiscal 2011 were $8.7 billion vs. $9.2 billion in the same period a year ago. Fourth quarter net earnings were $95 […]
Posted in, National, Organic Natural
U.S. Organic Industry Valued at Nearly $29 Billion in 2010
The organic industry grew at a rate of almost 8 percent in 2010, becoming a $28.6 billion business, according to the 2011 Organic Industry Survey from the Organic Trade Association (OTA) that was released April 21. Experiencing the most growth were organic fruits and vegetables, which represent 39.7 percent of total organic food value and […]
Posted in, National, Perishables
Flowers Foods Buys Tasty Baking
Flowers Foods Inc. will buy troubled Tasty Baking Co. in a cash deal worth $165 million, including Tasty Baking’s debt, reports the Atlanta Business Chronicle. The deal is expected to close in the second quarter. Tasty Baking is an iconic Philadelphia company known for its more than 100 Tastykake and Kandy Kake snack products. The […]
Posted in, National
Coca-Cola Pledges Financial Aid to Japan
The Coca-Cola Co. system has pledged $7.3 million to help Japan as it continues to confront the aftermath of a 9.0-magnitude earthquake and tsunami, reports the Atlanta Business Chronicle. Atlanta-based Coca-Cola said the $7.3 million in cash and product donations will go to the relief effort and includes more than 7 million bottles of needed […]