Dole plunged more than 8 percent in premarket trading Wednesday after the company fell short of expectations for its fourth quarter, citing lower banana prices in North America. Late Tuesday Dole Food reported an adjusted loss from continuing operations of 59 cents per share for the period ended Dec. 29. Its revenue fell 8 percent to $888 million from $962 million.
Chiquita Brands International Inc. has a good chance at being successful with its strategy of refocusing on core businesses like bananas and pineapples and becoming more efficient, said a Janney Capital Markets analyst after the produce company reported a big fourth-quarter loss.
The number of dead pigs found floating in a river flowing into Shanghai has reached nearly 6,000. The Shanghai municipal government said in an online announcement that 5,916 swine carcasses had been retrieved from Huangpu River by 3 p.m. Tuesday, but added that municipal water remains safe.
Diners will have to wait a little longer to find calorie counts on most restaurant chain menus, in supermarkets and on vending machines. Writing a new menu labeling law "has gotten extremely thorny," says the head of the Food and Drug Administration, as the agency tries to figure out who should be covered by it.
Despite Mayor Michael Bloomberg's bullishness, political realities and legal questions make for an uncertain future for one of the premier pieces of his legacy: a now-blocked ban on supersized sugary drinks. The city lost no time Tuesday getting started on the next round of the fight after a judge nixed the first-of-its-kind regulation.
The new buyers of Twinkies apparently developed a sweet tooth for Hostess snack cakes.Apollo Global Management and Metropoulos & Co., which made a joint offer to snap up the famous cream-filled cakes, have also entered the contest to buy Drake's, which include Devil Dogs and Yodels.
Federal investigators have unraveled a massive scheme among dozens of insurance agents, claims adjusters, brokers and farmers in eastern North Carolina to steal at least $100 million from the government-backed program that insures crops.
Honorary Red Cross Cookie Chairman, Ernie Keebler, delivers a sweet treat to thank a blood donor. After each blood and platelet donation, the Red Cross and Keebler treat donors to cookies and beverages as a way to say 'thank you' for making a positive difference in the lives of others.
Beef and pork are traditional fixtures on restaurant menus and represent classic favorites on the center of the plate. But now that rising meat costs are beginning to impact restaurant prices, it's more essential for operators to learn consumers' current attitudes and preferences towards beef and pork dishes—trends that can be addressed via menu development and innovative preparations.
The North American Tea Championship (NATC), held Feb. 27 - 28 in Las Vegas, Nev., evaluated premium hot teas from the fall 2012 harvest and announced the 22 best, high-quality teas in various categories, as well as the first-ever Judge's Choice Award. The Championship is the only independent and professionally-judged tea competition in North America., and all of the winners are commercially available in the marketplace.
A local veterinary inspector has been suspended in northern Poland after evidence was found of old sausages and meat stored at a processing plant. Last week, TVN24 showed footage of green-colored sausages at the plant, while an anonymous worker was heard saying they would be cleaned, dried and added to new products. Another man said that tons of old meat were added to products instead of being destroyed.
Recent rain and snowstorms have eased the grip of the worst U.S. drought in decades in portions of the nation's midsection, swelling some major inland rivers to near flood stage and drenching some farmland enough to possibly delay fast-approaching spring planting.
Late Monday, New York State Supreme Court Justice Milton Tingling struck down New York City Mayor Michael Bloomberg's controversial legislation banning the sale of large sugary beverages in the city. The judge questioned the potential effectiveness of the restriction.
For more than two decades, soda was the No. 1 drink in the U.S. with per capita consumption peaking in 1998 at 54 gallons a year, according industry tracker Beverage Digest. Americans drank just 42 gallons a year of water at the time.
A judge struck down New York City's pioneering ban on big sugary drinks Monday just hours before it was supposed to take effect, handing a defeat to health-minded Mayor Michael Bloomberg and creating confusion for restaurants that had already ordered smaller cups and changed their menus.
Snack foods maker Diamond Foods Inc. said Monday that it turned a profit in its fiscal second quarter after taking a loss on one-time charges a year ago. For the three months ended Jan. 31, net income totaled $10.1 million, or 43 cents per share. A year ago it took a loss of $20.2 million, or 93 cents per share.
General Mills is testing a meal delivery service in the Twin Cities. The Golden Valley packaged food giant is targeting the frozen meals at seniors. General Mills has developed 25 meals under the Betty Crocker Kitchens name that will be distributed by CobornsDelivers.
Shifting consumer behavior and patronage is pushing Canada's prepared-foods sector forward, as 42 percent of today's consumers report purchasing retailer meal solutions (RMS) four times or more per month, compared to just 36 percent who did the same two years ago. Additionally, consumers are now purchasing lunch and dinner RMS from a wider variety of retailers than they were just two years ago.
Continental Grain Co., which holds a 5.8 percent stake in Smithfield Foods, sent a letter to Smithfield's board of directors, suggesting the company split itself into three separate business units. Smithfield shares rose Friday as the company announced its intention to review the recommendation.
A Washington state rule requires that contract stores and buyers of state-owned stores charge a 17 percent fee on sales to bars and restaurants, and restaurateurs are switching to buy from distributors who are not required by law to impose the fee.