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Food and Beverage Beverages

  • PHILADELPHIA— Pepsi says slumping sales from Philadelphia's new sweetened-beverage tax are prompting layoffs of 80 to 100 workers at three distribution plants that serve the city. The company sent out notices Wednesday saying layoffs will occur at plants in north and south Philadelphia and in Wilmington, Delaware, The Philadelphia Inquirer reported.

  • Trump could use a Negroni: Gruppo Campari CEO

    Gruppo Campari CEO Bob Kunze-Concewitz discusses earnings, the potential of a U.S import tax and his interest in M&A.

  • Feb 28- The maker of Kona craft beer was sued on Tuesday by two California shoppers who claim they were deceived into believing the beer was made in Hawaii, causing them to overpay for it. Sara Cilloni and Simone Zimmer said Craft Brew Alliance Inc misleads consumers about the origin of its Kona Brewing Co beers, saying the fifth-largest U.S. craft brewer makes them...

  • Feb 28- The maker of Kona craft beer was sued on Tuesday by two California shoppers who claim they were deceived into believing the beer was made in Hawaii, causing them to overpay for it. Sara Cilloni and Simone Zimmer said Craft Brew Alliance Inc misleads consumers about the origin of its Kona Brewing Co beers, saying the fifth-largest U.S. craft brewer actually...

  • LONDON, Feb 28- Global coffee exports rose 6.7 percent in January from a year earlier to total 9.84 million 60- kg bags, the International Coffee Organization said on Tuesday. For the first four months of the 2016/ 17 season, which began on Oct. 1 last year, coffee exports were up 8.9 percent at 39.98 million bags. Robusta coffee exports were a marginal 0.4 percent lower...

  • Feb 24- Coca-Cola Femsa SAB de CV, the largest Coke bottler in the world, reported a jump in quarterly profit on Friday, helped by higher volume sales in Costa Rica, Nicaragua and the Philippines. The company's net income attributable to equity holders rose to 3.51 billion Mexican pesos in the fourth quarter ended Dec. 31, from 2.69 billion Mexican pesos, a year...

  • NEW YORK— Coke says it supports the World Health Organization's guidelines for limiting added sugar, as the company works on repairing its image in public health circles and reshaping its business. Incoming CEO James Quincey also said the company has "outgrown" its namesake cola and is focusing on becoming a "total beverage company." Coca-Cola Co., based in...

  • PHILADELPHIA— Philadelphia Mayor Jim Kenney says the city's soda tax raised $5.7 million in January, more than double what city officials had projected. Kenney's announcement says the city projected the tax, which took effect last month, would generate about $2.3 million in January. The city has projected the tax will raise about $91 million this year and that...

  • 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...