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Food and Beverage Beverages

  • BOSTON _ Boston Beer Co. on Wednesday reported fourth-quarter net income of $22.2 million. On a per-share basis, the Boston- based company said it had profit of $1.75. For the year, the company reported profit of $87.3 million, or $6.79 per share.

  • Jeff Brown, who owns six local ShopRite supermarkets, told The Philadelphia Inquirer he expects to cut 300 jobs. Bob Brockway, chief operating officer of Canada Dry Delaware Valley, has predicted a 20 percent workforce reduction by March. Mayor Jim Kenney pushed through the 1.5 cent- per-ounce tax on sweetened and diet beverages to pay for nearly 2,000...

  • Feb 20- Acquire, slash costs, repeat. Billionaire investor Warren Buffet and buyout firm 3 G Capital's failed $143 billion bid to combine their food conglomerate Kraft Heinz Co with Unilever Plc shows their winning formula now needs a growth boost. "Perhaps Kraft will now acquire another medium-sized U.S. food company, like General Mills Inc, Kellogg Co, or...

  • Feb 17- Buyout firm 3 G Capital managed to build a consumer empire with a market value of over $140 billion in just seven years. Yet its ruthless approach to costs may end up hampering 3 G-backed Kraft Heinz Co's $143 billion bid for Unilever Plc.. Its investment approach has attracted backers ranging from billionaire investor Warren Buffett, who has helped...

  • Smucker's shares fell as much as 6 percent to $130.01 in morning trading on Friday. Green coffee prices are expected to rise through early 2017 as drought has hit coffee output from top grower Brazil for three straight years. "We think there is an opportunity as our contracts roll off to improve that dramatically," Steven Oakland, who heads, Smucker's coffee and U.S....

  • Green coffee prices are expected to rise through early 2017 on forecasts that demand will outstrip supply, as drought has hit coffee output from top grower Brazil for three straight years. The company's pet foods business, its biggest in terms of sales, has come under pressure from rivals Mars Petcare and Nestle's Purina, which are using promotions and...

  • Smucker's pet foods business, its biggest in terms of sales, has also been hit by competition as rivals Mars Petcare and Nestle's Purina use promotions and discounts to lure customers. Smucker's net income fell to $134.6 million, or $1.16 per share, in the latest quarter from $185.3 million, or $1.55 per share, a year earlier. The company's net sales fell 5 percent to...

  • *JV with Denmark's Arla Foods to start in April. CAIRO, Feb 16- Egypt's largest dairy and juice producer, Juhayna Food Industries, will cut investment this year and raise prices by 5-10 percent as it feels the impact of soaring inflation in its home market, its chief executive said. Inflation in Egypt has soared since a currency float on Nov. 3 to top 30 percent in...

  • VEVEY, Switzerland, Feb 16- Nestle's new chief executive scrapped the food company's long-standing sales target as it reported disappointing annual results on Thursday, adopting a more cautious tone in an uncertain environment. Unilever cited problems in Brazil and demonetization in India, while Danone pointed the finger at tough conditions in China.

  • GENEVA— Pressure on food prices globally weighed on the earnings of consumer goods giant Nestle, which on Thursday said it would step up its drive to cut costs. The company based in Vevey, Switzerland, reported a 6 percent drop in net profit to 8.53 billion Swiss francs, with double-digit declines at its Chinese unit dragging on growth. CEO Mark Schneider said the...

  • Happy Leaf Kombucha is served in a Denver kombucha taproom.

    Legislation introduced by Colorado congressmen also aims to update regulations for kombucha companies nationwide.

  • Feb 15- Kraft Heinz Co, the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a higher-than-expected adjusted profit, helped by lower costs. Last month, the company said it would form a joint venture with media mogul Oprah Winfrey to develop a new line of food products in the United States. Sales fell 3.8 percent to $6.86 billion, hit by a stronger...

  • Feb 15- Procter& Gamble Co, maker of Tide detergent and Gillette razors, will face ever greater pressure to slice costs and slow-growing divisions now that activist investor Trian Partners is a major shareholder. A person familiar with the matter told Reuters that Trian currently holds more than $3 billion of P&G's stock. Bernstein Research said in January 2016...

  • Feb 15- Kraft Heinz Co, the maker of Velveeta cheese, Heinz ketchup and Oscar Mayer meats, reported a 3.8 percent fall in quarterly sales, hit by a stronger dollar and lower demand in the United States. Net income attributable to shareholders was $944 million, or 77 cents per share, in the fourth quarter ended Dec. 31, compared with $285 million, or 23 cents per share, a year...

  • Feb 15- Shmaltz Brewing Co said on Wednesday it agreed to stop selling beer carrying the "MANNAge a Trois" name to settle a lawsuit in which California's Sutter Home Winery Inc accused it of infringing its "Menage a Trois" trademark. In a Nov. 28 complaint in San Francisco federal court, Sutter Home had said MANNAge a Trois was "confusingly similar" to Menage a Trois, a...

  • Feb 15- U.S. stock index futures were little changed on Wednesday, ahead of a blast of economic data and a day after Federal Reserve Chair Janet Yellen painted a largely upbeat picture of the economy. *Yellen said on Tuesday, before the U.S. Senate Banking Committee, that delaying interest rate hikes would be unwise, but did not indicate when the Fed would raise rates.

  • 2016 great for Heinekin and consumer goods overall: Analyst

    Javier Gonzalez Lastra, senior beverages analyst at Berenberg, discusses Heineken's fourth-quarter earnings and how protectionism might impact the company.

  • Russia weakness does not make or break out company - How Heineken is strengthing its UK business

    Heineken CEO Jean-François van Boxmeer explains why Russia remains a difficult market, and also speaks about his company's business strategy in the U.K.

  • Feb 14- Molson Coors Brewing Co reported lower-than-expected quarterly sales, due to a strong dollar and weak demand for its Coors Light beer and its cheaper brands such as Miller High Life in the United States. Shares of the third-largest brewer in the United States fell 2.7 percent to $93.59 in premarket trading on Tuesday. Molson reported a pro-forma net loss...

  • NEW YORK— Profits at Molson Coors Brewing surged during the fourth quarter, though not as much as industry analysts had expected and sales of Coors Lite, its top beer, slipped. "The completion of the MillerCoors transaction represents a step forward in the size and strength of our business, and this will drive some significant changes in our financial numbers in...