Molson Coors Brewing Co. said Tuesday that its net income dropped 55 percent in the first quarter, as it invested more in its brands and dealt with acquisition-related costs and poor weather in certain markets. The company earned $35.6 million, or 20 cents per share, for the period ended March 30. A year earlier it earned $79.5 million, or 44 cents per share.
Coca-Cola says it will work to make lower-calorie drinks and clear nutrition information more widely available around the world. The Atlanta-based company already offers diet drinks in most markets. But they're not always as readily available in emerging markets such as China as they are in the U.S.
Cargill broke ground today on a U.S. $100 million investment to construct a state-of-the-art cocoa processing facility in Gresik, in the East-Java region of Indonesia. Cargill stated that the new facility is to meet the growing demand amongst customers for cocoa products and to encourage the development of the Asian cocoa sector.
The Coca-Cola Co. says it is spending $2 billion to support the planting of 25,000 acres of new orange groves in Florida, a move officials are lauding as a major investment in the Sunshine State's citrus industry. The announcement is being made at a late-morning news conference at Coca-Cola's juice production plant in Auburndale.
Prime Advantage announced the findings of its fifth annual Group CFO Survey, revealing financial projections and top concerns of its member companies’ CFOs in 2013. These CFOs remain optimistic about financial prospects and are focused on growth, as indicated by increased hiring, capital and R&D investments.
The Wendy's Co. on Monday named a former Kellogg's snacks division chief as the fast-food chain's chief financial officer. Todd Penegor, 47, will join Wendy's in June and will succeed Steve Hare, 59, as senior vice president and chief financial officer on Sept. 1.
The Cat® lift trucks 80-Volt 2EPC5000-2EP6500 Series features five models with lift capacities ranging from 5,000 to 6,500 pounds.
Tyson Foods' second-quarter net income dropped 42 percent as it contended with additional feed costs in its chicken unit and reduced margins in its beef division. The company's biggest meat company cut its full-year revenue forecast. Shares fell 6 percent in premarket trading on Monday.
I know that I have written about this before, but maybe not so explicitly.Program pilots are booby traps, doomed to fail, generally speaking.There is a simple reason for it.Change, real, observable, meaningful change requires conviction and commitment.
A 5,000-sow swine operation that will produce about 125,000 pigs a year is set to open in southeastern South Dakota just south of Mount Vernon. Hundreds on Friday toured the Jackrabbit Family Farm facility, which will be populated with animals in about two weeks, the Mitchell Daily Republic reported.
Brynwood Partners VI L.P. announced that its portfolio company, Pearson Candy Company, has acquired the Bit-O-Honey confectionery brand from Nestle USA, Inc. The acquisition marks the fifth brand Brynwood Partners has acquired from Nestle. Terms and conditions of the transaction, which closed today, were not disclosed.
The Hain Celestial Group Inc. reported major profit gains in its fiscal third quarter on stronger sales, but the company issued a weak full-year forecast. Hain Celestial earned $40.7 million, or 85 cents per share, for the quarter that ended March 31. That compares with $24.1 million, or 52 cents per share, earned last year. It made 72 cents per share on an adjusted basis, excluding one-time items.
Kraft Foods is reviving old brands like Kool-Aid and betting on big new innovations as it begins finding its way as a smaller, independent company. The Northfield, Ill., company, which makes Miracle Whip, Oscar Mayer and other staples found in American pantries, on Thursday reported first-quarter results that beat Wall Street expectations.
Kellogg has a plan to get adults to eat more cereal: pile on the nutrients. The Battle Creek, Mich.-based company says it's introducing Raisin Bran with omega-3 and a multigrain version of Special K later this month as it works to boost struggling cereal sales in North America.
Hillshire Brands on Thursday reported quarterly sales that fell short of Wall Street expectations as it ran into some hiccups switching to a new packaging for its lunch meats. The company, which his based in Chicago, is the former North American business of Sara Lee Corp. and makes brands including Jimmy Dean sausages and Ball Park hot dogs.
A juror says she wanted to send a message by supporting a historic $240 million verdict for 32 mentally disabled men who faced decades of abuse by a Texas company: Never again. Juror Robin Griebel outlined her rationale for awarding $7.5 million to each former employee of Henry's Turkey Service, while the men, their attorney and relatives celebrated Wednesday's verdict.
Kellogg's first-quarter net income slid 11 percent on higher expenses and acquisition costs. The Battle Creek, Mich., company announced a $1 billion stock repurchase program Thursday, but shares slipped in premarket trading. Kellogg — whose brands include Eggo, Keebler, Frosted Flakes and others — earned $311 million, or 85 cents per share, for the period ended March 30.
Starbucks Corp. is making management changes it says will give its top leaders deeper experience with the company. The world's biggest coffee chain declined to say whether the changes were part of succession planning for Howard Schultz, who returned as CEO in 2008 and has since led a turnaround of the company.
The Boston Beer Company Inc.'s profit slipped in the first quarter as rising costs dampened sales gains for the brewer. The company, which makes Samuel Adams beer, Twisted Tea and other beverages, said Wednesday that it faced higher costs for some of its goods during the quarter, and it increased spending on advertising and promotions.
Dean Foods Co. said Wednesday that it will distribute a portion of its remaining stake in The WhiteWave Foods Co. later this month. The dairy processing company took WhiteWave — which makes Silk soy products and Horizon Organic dairy products — public in October and is using proceeds to pay down debt.
Food processing and packaging equipment is complex and multi-faceted, often with difficult-to-reach areas that can house biofilms and food soils that may result in microbiological hazards. Hidden surfaces lead to inadequate sanitation if not properly addressed, but those are not the only danger zones.
Shares of Cott Corp. fell Wednesday after the beverage maker reported lower first-quarter revenue, citing a loss in market share and a broader decline in the North American soft drink industry. The Canadian company, which makes private-label drinks for retailers, said its total filled beverage volume was 193 million cases for the quarter, down 5 percent from 203 million cases a year ago.
For decades, the lives of 32 mentally disabled Iowa turkey processing plant workers were controlled by their Texas-based employer, which profited handsomely by hiring them out. Regardless of sickness or injury, they were driven from the dilapidated, bug-infested bunkhouse where they were housed to their 41-cents-an-hour jobs removing the slaughtered birds' innards.
Tucked away in Pascoag, R.I., Daniele Inc. is using innovative technology to extend shelf-life, ensure food safety and expand the reach of its sausage products to a growing base of consumers. The company is employing high pressure processing to heighten food safety in its facilities.
U.S. factory activity expanded at a slower pace in April, held back by weaker hiring and less company stockpiling. The report is the latest sign that economic growth may be slowing this spring. The Institute for Supply Management said Wednesday that its index of manufacturing activity slipped to 50.7 last month.