News
Dole To Buy Back up to $200M in Shares
May 9, 2013 12:23 pm | CommentsDole Food Company Inc. said Thursday that it will buy back up to $200 million of its shares. The food company said the move allows it to return cash to shareholders, while rebalancing its capital structuring by shrinking the number of outstanding shares. That helps increase earnings per share.
Slow Energy Drink Sales Hurt Monster 1Q
May 9, 2013 12:21 pm | CommentsShares of Monster Beverage fell Thursday after the energy drink maker reported disappointing first-quarter results and a slowdown in sales. The company, based in Corona, Calif., said after the market closed on Wednesday that its quarterly profit fell as it was hurt by distributor termination obligations, foreign currency exchange rates and legal costs tied to regulatory matters and litigation regarding its namesake drink.
Ohio Egg Farmers Donate Nearly 767K Eggs
May 9, 2013 12:19 pm | CommentsOhio egg farmers are donating close to 767,000 eggs to food banks and other hunger relief organizations throughout the state in celebration of National Egg Month. The Ohio Poultry Association said Wednesday that eight farmers will provide the 766,800 eggs, which will be delivered the over the next couple weeks.
Pa. Attorney General Clears Hershey Trust
May 9, 2013 12:18 pm | by PETER JACKSON,Associated Press | CommentsA two-year investigation revealed no wrongdoing by the Hershey Trust Co.'s board, but it prompted changes in corporate rules, state Attorney General Kathleen Kane said Wednesday in concluding the probe. The attorney general's office examined allegations that Milton Hershey School assets were used to pay excessive compensation to trust board members and to make questionable land purchases.
Starbucks, Green Mountain Extend Partnership
May 9, 2013 12:17 pm | CommentsStarbucks has signed a new five-year contract that triples the number of branded single-serve packs it makes for Green Mountain's Keurig brewing machines. The deal comes after Starbucks last year introduced its own single-serve brewing machine, which was seen by many as posing a threat to Green Mountain's popular machines.
Consumer Trends: Moms Impact Shopping Behavior
May 9, 2013 12:00 pm | CommentsIt's a common childhood experience, shuffling up and down grocery store aisles with Mom. Little do consumers know, though, that those moments mold their food perceptions into adulthood. A new white paper is designed to provide food marketers and producers a closer look at the impact moms have on consumers' purchase patterns and cooking habits.
Sharpton: Meeting with PepsiCo ‘Positive’
May 9, 2013 9:37 am | by CHRIS TALBOTT,AP Music Writer | CommentsOfficials with PepsiCo Inc. apologized during a meeting Wednesday with relatives of civil rights icon Emmett Till who were offended by a rapper who had a promotional deal with the company, the Rev. Al Sharpton said. Sharpton said a statement that the morning meeting he brokered at company headquarters in Purchase, N.Y., was "positive."
Snyder’s-Lance Reports 1Q Results
May 9, 2013 9:35 am | CommentsSnyder's-Lance, Inc. reported results for its first quarter of 2013. Net revenue for the first quarter ended March 30, 2013 was $419 million, an increase of 6.5% compared to prior year net revenue of $393 million. Net income was $19.8 million for the first quarter of 2013, or $0.28 per diluted share, compared to net income of $14.2 million for the first quarter of 2012 or $0.21 per diluted share.
Bolivia Tries To Make Coca Palatable
May 9, 2013 9:32 am | by PAOLA FLORES,Associated Press | CommentsPresident Evo Morales has a personal stake in seeing the destigmatization of the crop. He and his fellow growers say they want to build a healthy market for coca-based products, despite the belief of U.S. officials that most of Bolivia's crop ends up as narcotics. Yet a stubborn problem keeps getting in the way of the president's grand plan: While coca tea is popular, most people seem to find other coca-based food unappetizing.
McDonald’s Sales Hit by Weakness Overseas
May 9, 2013 9:30 am | by CANDICE CHOI,AP Food Industry Writer | CommentsMcDonald's says a key sales figure slipped again in April, with the world's biggest hamburger chain citing fears over a new strain of avian flu for weakness in China. The Oak Brook, Ill.-based chain, which had warned of a decline last month, says the figure fell 0.6 percent globally. That reflected an increase of 0.7 percent in the U.S., where it recently introduced its chicken McWraps to attract more customers in their 20s and 30s.
Wrigley Pulls Caffeinated Gum
May 9, 2013 9:28 am | by MARY CLARE JALONICK,Associated Press | CommentsA Food and Drug Administration investigation into the safety of caffeine-added foods has prompted Wrigley to take its new caffeinated gum off the market for the time being. Wrigley said Wednesday that it will temporarily halt sales and marketing of Alert caffeinated gum after discussions with the FDA.
Photo of the Day: Coca Treats Fall Flat
May 9, 2013 9:26 am | CommentsUrged on by President Evo Morales, Bolivians had been trying to turn coca leaf, the base ingredient of cocaine, into popular treats ranging from candies to pastries. Yet as coca processing factories were built and products were marketed, a stubborn problem kept getting in the way of Morales' grand plan: Most people, including many Bolivians, just don't like eating coca food.
National Chocolate & Dessert Show Returns to Chicago
May 8, 2013 12:42 pm | CommentsThe National Chocolate & Dessert Show (NCDS) returns to Chicago’s Navy Pier on Sunday, October 20 to Tuesday, October, 22 as the nation’s only trade show dedicated to the chocolate and dessert industry. Foodservice operators, retail buyers, chefs, and chocolatiers attendees will leave with the key learnings and solutions to run a successful chocolate or dessert operation or retail program.
Wis. Assembly Approves Junk Food Stamp Bill
May 8, 2013 12:38 pm | by KEVIN WANG,Associated Press | CommentsA bill aimed at encouraging food stamp recipients in Wisconsin to eat healthier by limiting the amount of benefits that could be spent on junk food won approval from the state Assembly on Tuesday. The bill would require people enrolled in Wisconsin's food stamps program, or FoodShare, to spend at least two-thirds of their monthly benefits on designated items such as milk, bread and vegetables.
U.S. Job Postings Fell in March
May 8, 2013 12:37 pm | by CHRISTOPHER S. RUGABER,AP Economics Writer | CommentsU.S. employers posted fewer job openings in March compared with February and slowed overall hiring, underscoring a weak month of job growth. The Labor Department said Tuesday that job openings fell 1.4 percent to a seasonally adjusted 3.8 million jobs. Total hiring declined 4.3 percent to 4.3 million.
PepsiCo To Meet with Till Family, Sharpton After Controversies
May 8, 2013 12:33 pm | CommentsPepsiCo Inc. officials will meet Wednesday with members of Emmett Till's family and the Rev. Al Sharpton. Sharpton continued to press for the meeting last week after the company's partnerships with Lil Wayne and Tyler, the Creator, of Odd Future to promote Mountain Dew sparked controversies.
Mondelez Sells More Oreos, Struggles with Gum Sales
May 8, 2013 12:31 pm | by CANDICE CHOI,AP Food Industry Writer | CommentsAmericans aren't chewing as much gum. That's a problem for Mondelez, which owns Trident, Chiclets and other brands. The company, which also makes Oreo cookies, Cadbury chocolates and Ritz crackers, on Tuesday reported a first-quarter profit in line with Wall Street expectations following its split with Kraft Foods Group last year.
Daily Sound Bite: Huge Packaging Merger
May 8, 2013 12:00 pm | CommentsExopack, Britton Group, PACCOR, Kobusch and Paragon Print & Packaging have announced they will join forces to become one large packaging company, headquartered in Luxembourg. All five packaging companies are affiliated portfolio companies of Sun Capital Partners, Inc.
Consumer Trends: Delving into the Diverse Hispanic Market
May 8, 2013 12:00 pm | Comments"To know thy own target audience" could be the mantra of today's successful marketing campaigns. Hispanic Millennials, GenXers and Boomer generational segments have unique consumer buying patterns. How they view the marketplace is influenced by a combination of macro-trends of their respective generations, by their lifestage priorities, and by their cultural orientation.
Cheesy Garlic Bread Prevails in Lay’s Flavor Contest
May 8, 2013 9:40 am | by JOSEPH PISANI,AP Business Writer | CommentsLay's potato chips are getting cheesier. Fans voted to keep the potato chip maker's Cheesy Garlic Bread flavor on store shelves for at least the end of the year as part of the company's nearly yearlong promotion that solicited customers' flavor ideas.
