March 24 at 11:59 a.m.
Filed under:
Food,
Retail
By Reuters
Safeway Select cookies at a Dominick's. (Terry Harris/Tribune)
Grocery retailers’ store-brand products are expected to double their share of the global packaged food market over the next 15 years to make up half the market, according to a report issued on Thursday.
The report by Sebastiaan Schreijen, associate director of processed food and retail at Rabobank, said growth of private-label brands will be fueled by retail consolidation in developed markets, adoption of modern retail in developing markets, and increased consumer acceptance of private-label brands following the recession, among other factors.
Dec. 2, 2010 at 5:13 p.m.
Filed under:
Earnings,
Jobs/employment,
Stock activity
By Reuters
Kroger Co. cut some prices in its latest quarter, fueling worries that the slow U.S. economic recovery will cause another flare-up in the supermarket industry’s intense and profit-denting price war. Get the full story »
Dec. 1, 2010 at 9:27 a.m.
Filed under:
Beverages,
Food,
Packaged foods,
Retail
By Reuters
Starbucks is prepared to make acquisitions to help accelerate sales of bagged coffee and other consumer products beyond its cafes, Chief Executive Howard Schultz told investors on Wednesday.
The brass at Starbucks Corp says the consumer packaged goods business should grow faster than the company’s retail cafes, which total 17,000 globally.
But Wall Street wants specifics on how it will accomplish that goal, particularly as it works through a messy break-up with Kraft Foods Inc, which has handled sales of Starbucks packaged coffee and tea in supermarkets and club stores since 1998. Speaking at the company’s investor meeting in New York, Schultz said the Seattle-based coffee giant was prepared to buy small and large companies that would help expand its selection of consumer products. Starbucks shares rose 3.3 percent in morning trading. Get the full story »
Nov. 29, 2010 at 4:10 p.m.
Filed under:
Beverages,
Food,
Packaged foods,
Updated
By Reuters
Starbucks Corp. and Kraft Foods began airing a messy divorce in public Monday, fighting over the dissolution of their partnership selling bags of Starbucks coffee at supermarkets.
Kraft said it had launched arbitration proceedings to challenge Starbucks’ attempt to end the agreement, sending shares of both companies lower.
At stake for Kraft is a partnership with $500 million in annual sales and strong profit margins. Starbucks may have to pay more than $1 billion to buy back the business and run it, a risky move for a company known for operating coffee shops, not selling packaged goods. Get the full story »
Nov. 3, 2010 at 4:14 p.m.
Filed under:
Earnings,
Economy,
Food,
Retail
By Associated Press
A Whole Foods in Santa Rosa, Ca. (John Burgess/Tribune)
Whole Foods Market Inc. more than doubled its fourth-quarter net income as sales rose, prompting the grocer to raise its full-year outlook on Wednesday.
The news sent natural and organic grocer’s shares soaring in after-hours trading.
Whole Foods, based in Austin, Texas, reported that its net income available to common shareholders rose to $57.5 million, or 33 cents per share, for the quarter that ended Sept. 26. That’s up from $28.7 million, or 20 cents per share, in the same period last year.
Oct. 14, 2010 at 11:34 a.m.
Filed under:
Food,
Packaged foods,
Updated
By Emily Bryson York
Dominck’s parent Safeway Inc. said lower prices drove its third-quarter profit down 5 percent, from a year ago, to $128.8 million.
Sales fell slightly, to $9.4 billion from $9.5 billion. The Pleasanton, Calif. company’s same store sales fell 2 percent, excluding fuel sales. Safeway pointed to lower prices for the same-store sales decline. Get the full story »
Sep. 29, 2010 at 11:43 a.m.
Filed under:
Earnings,
Food,
Retail
By Reuters
Family Dollar Stores Inc. forecast profit for the current fiscal year that would beat most analyst estimates and said it will speed up the pace of new store openings, sending its shares up 2.5 percent. The retailer, which prices most of its goods under $10, has attracted consumers struggling in a weak economy. It expects to reap the sales benefit of longer store hours, introduced earlier this year, and an overhaul to give more room to fast-moving items like food. Get the full story »
Sep. 23, 2010 at 3:25 p.m.
Filed under:
Food,
Updated
By Emily Bryson York
Dominick’s is rolling out an online coupon program today that sorts, organizes and personalizes offers for its loyalty-card members.
The program, called “Just For U,” is designed to create a centralized location for customers to store coupons. Members will receive personalized offers based on purchase history, gleaned use of Dominick’s Fresh Values Card. Get the full story »
Sep. 8, 2010 at 4:17 p.m.
Filed under:
M&A,
Retail
By Associated Press
Convenience store operator 7-Eleven Inc. is the mystery bidder for Casey’s General Stores Inc. trying to top a Canadian rival, according to a published report. Get the full story »
Aug. 20, 2010 at 11:43 a.m.
Filed under:
Earnings,
Food
By Dow Jones Newswires
Hormel Foods Corp.’s fiscal third-quarter earnings rose 11 percent as the food-processing company saw revenue continue to rise and brands like its Hormel chili did well. The result beat analysts’ expectations and the company raised the year’s earnings forecast for a third time, hiking it to $2.85 to $2.91 a share from $2.75 to $2.85. Get the full story »
Aug. 6, 2010 at 1:56 p.m.
Filed under:
Agriculture/Farming,
Exchanges
By Reuters
A severe drought in Russia could result in higher prices for bread in U.S. stores, as a spike in wheat costs may lead manufacturers to ease up on the discounts retailers pushed for during the recession.
But consumers and retailers may push back. Shoppers could opt for cheaper options as unemployment remains high, while retailers — who try to drive traffic with discounts — could point out that the spike in wheat is no where near the level of two years ago, when manufacturers raised prices on many goods. Get the full story »
