Food and Beverage Food and Staples Retailing

  • MILAN, Sept 30- The owner of Italian supermarket chain Esselunga, Bernardo Caprotti, has died at the age of 90, two sources close to the family said on Friday. Until then, he had been in talks over a possible sale of the group to private equity funds for up to 6 billion euros. The funds involved in the talks include Blackstone, CVC Capital Partners and BC Partners,...

  • MILAN, Sept 30- Having worked all his life to build Italy's fourth biggest supermarket chain and protect it from rivals, 90- year-old Bernardo Caprotti spent the past few months fighting to make sure his brand will thrive without him. The billionaire, working from his three-storey, heavily guarded home in central Milan, has been in talks with private equity funds...

  • MILAN, Sept 30- Having worked all his life to build Italy's fourth biggest supermarket chain and protect it from rivals, 90- year-old Bernardo Caprotti spent the past few months fighting to make sure his brand will thrive without him. The billionaire, working from his three-story, heavily guarded home in central Milan, has been in talks with private equity funds...

  • However, sales fell 4.6 percent to $2.67 billion, missing analysts' estimates, hurt by lower demand for its grocery, snacks and frozen food items. Net income attributable to the company was $186.2 million, or 42 cents per share, compared with a loss of $1.15 billion, or $2.68 per share, in the same period last year. Analysts had expected adjusted earnings of 48 cents per...

  • Sept 29- ConAgra Foods Inc, the maker of Chef Boyardee pasta and Hunt's ketchup, reported lower-than-expected quarterly sales, hurt by lower demand for its grocery, snacks and frozen food items. The Chicago- based company's net sales fell 4.6 percent to $2.67 billion, missing the average analysts' estimate of $2.73 billion, according to Thomson Reuters I/B/E/S.

  • CAPE TOWN, Sept 28- It would be a "natural development" for international retail group Steinhoff to take over Shoprite, Africa's biggest supermarket chain, South African tycoon Christo Wiese told Reuters, sending shares in the grocery group surging 4 percent. "People will speculate about that," he said in a rare interview on Tuesday at his modest offices...

  • CAPE TOWN, Sept 28- It would be a "natural development" for international retail group Steinhoff to take over Shoprite, Africa's biggest supermarket chain, South African retail tycoon Christo Wiese told Reuters. "People will speculate about that," he told Reuters in a rare interview on Tuesday at his modest offices overlooking factories in the dusty northern Cape...

  • LONDON, Sept 28- Sterling's fall since Britain's vote to leave the European Union will not necessarily lead to higher grocery prices, as it could be offset by lower commodities prices and stiff competition, the country's No.2 supermarket group Sainsbury's said on Wednesday. Britain's grocery sector has seen more than two years of falling prices as German...

  • The man who created a new food that merges a hot dog and a hamburger has decided to auction off his intellectual property rights.

  • LONDON, Sept 28- Sainsbury's, Britain's second biggest supermarket, on Wednesday reported another drop in quarterly underlying sales and cautioned that it did not expect a change to competitive market conditions any time soon. The firm, which earlier this month completed its 1.4 billion pounds takeover of Argos-owner Home Retail, said sales at stores open...

  • LONDON, Sept 28- Sainsbury's, Britain's second biggest supermarket, on Wednesday reported another drop in quarterly underlying sales and cautioned that it did not expect a change to competitive market conditions any time soon. The firm, which earlier this month completed its 1.4 billion pounds takeover of Argos-owner Home Retail, said sales at stores open...

  • SAO PAULO, Sept 23- Raia Drogasil SA, Brazil's biggest drugstore chain, will sit out expected consolidation of the national market, the company's chief executive said in an interview, because its own rapidly expanding network is proving increasingly efficient. CVS Health Corp entered Brazil with an acquisition in 2013 and two sources told Reuters this month...

  • Demand for clean, healthy grub has spurred the use of "pure commodities" - ingredients you can actually recognize - by food manufacturers.

  • A new food combination that merges a hot dog and a hamburger has launched, with its inventor telling CNBC that he hopes to bring the product to the U.S.

  • Investment returns on food retailers are very poor: Pro

    Charles Newsome, divisional director at Investec Wealth, shares his outlook for food retailers and warns investors to stay away from them.

  • MILAN/ LONDON, Sept 15 (Reuters)- European shares rose on Thursday at the end of a choppy session that saw a key index hit a six-week low, with UK supermarket Morrisons leading gainers following a strong earnings update. The index slipped as much as 0.1 percent earlier in the session to its lowest point since Aug. 4, but later recovered as Wall Street rose on the back of...

  • LONDON, Sept 15- European shares edged higher on Thursday, looking to break off from a week-long losing run, as gains at supermarket operator Morrisons and Zodiac Aerospace lent some support to stock markets. The pan-European STOXX 600 index, which had fallen for the last five days in a row, was up by 0.2 percent, although it remained near one-month lows.

  • LONDON, Sept 15- Morrisons, Britain's No. 4 supermarket, reported a rise in first-half profit for the first time in four years and a third straight quarter of underlying sales growth, indicating its recovery is gaining momentum. The Bradford, northern England, based group, which trails market leader Tesco, Sainsbury's and Wal-Mart's Asda in annual sales, said on...

  • LONDON, Sept 13- A prolonged fall in grocery prices is pressuring profit margins at British online supermarket Ocado and cut-throat competition shows no sign of letting up, it said on Tuesday, triggering a slide in its shares. Ocado stock, which has had a rollercoaster ride since its market debut in 2010, had risen 11 percent over the last month after the firm...

  • LONDON, Sept 13- British online grocer Ocado. The stock fell as much as 10.8 percent after Chief Financial Officer Duncan Tatton-Brown also told reporters he would not be surprised if analysts trimmed their consensus earnings forecasts for 2016.. "As the market remains very competitive, we are seeing sustained and continuing margin pressure and there is...