Food and Beverage Food and Staples Retailing

  • LONDON, Sept 13- British online grocer Ocado reported a 13.6 percent rise in quarterly retail sales but said the intensely competitive market was causing margin pressure and cautioned it would not go away any time soon. "As the market remains very competitive, we are seeing sustained and continuing margin pressure and there is nothing to suggest that this will...

  • ROME/ MILAN, Sept 12- The 90- year old founder of Italian supermarket chain Esselunga is considering a sale of the group and has picked Citigroup as adviser to assess expressions of interest from private equity funds, two sources close to the matter said on Monday. One of the sources said that CVC Capital Partners and Blackstone had expressed interest in Italy's...

  • *Profits set to grow this year after four years of falls. LONDON, Sept 12- While investors have had their sights trained on the biggest names slugging it out in Britain's supermarket price war, one former struggler, Morrisons, may be embarking on a quiet revolution. Eighteen months after Chief Executive David Potts took over, the retailer is on course to return to...

  • Sept 9- Kroger Co, the biggest U.S. supermarket company, reported an 11.5 percent fall in quarterly profit, largely hurt by charges related to restructuring of some pension obligations. Net earnings attributable to Kroger fell to $383 million, or 40 cents per share, in the second quarter ended Aug. 13 from $433 million, or 44 cents, a year earlier.

  • Sept 8- Drugstore chain Walgreens Boots Alliance Inc said it would likely have to divest between 500 and 1000 stores, more than its previous estimate, to win regulatory approval for its planned acquisition of Rite Aid Corp.. Rite Aid shares were up 6.5 percent at $8.28 in early trading on Thursday. Walgreens, in October last year, offered to buy smaller peer Rite Aid...

  • Sept 8- Drugstore chain Walgreens Boots Alliance Inc said it would likely have to divest between 500 and 1000 stores to win regulatory approval for its planned acquisition of Rite Aid Corp.. Walgreens had earlier estimated it would not have to sell more than 500 stores to win over regulators. The company offered to buy smaller peer Rite Aid in October last year to...

  • Sept 7- Shares of Sprouts Farmers Market Inc plunged as much as 16.7 percent after the natural and organic foods retailer warned on quarterly sales, sending other U.S. grocers' stocks tumbling. The company also said on Wednesday it expects full-year earnings per share of 83- 86 cents, well below previous analyst estimates of 94 cents, according to Thomson Reuters...

  • Chicken farm

    The suit claims the defendants "fraudulently concealed such anticompetitive conduct in furtherance of the conspiracy."

  • LOS ANGELES, Aug 31- McDonald's Corp on Wednesday said Michael Andres will retire as president of McDonald's USA at the end of the year as the fast-food chain works to boost domestic sales, which have been under pressure from low prices at grocery stores. He will be replaced by Christopher Kempczinski, 47, who came to McDonald's last year from Kraft Foods Group,...

  • Chief Executive Officer Greg Foran said on a conference call that the company's customers were still cautious with their spending but were visiting stores more often and buying more items. The Bentonville, Arkansas- based company said sales were strong for grocery items and apparel but weak for electronics. Earlier this year, it increased entry-level wages...

  • Aug 17- Retail chain Target Corp cut its fiscal-year profit outlook on Wednesday after quarterly sales fell more than expected due to lower demand for electronics and disappointing results in its grocery business. Shares of the sixth-largest U.S. retailer dropped 7 percent to $70.15, erasing their nearly 4 percent gain for 2016.. "It's a very cautious consumer,......

  • Aug 16- Britain's Wm Morrison Supermarkets Plc said on Tuesday it had completed the sale of its 10 percent stake in U.S. online food retailer Fresh Direct for 45 million pounds, more than two years after it announced the sale. Morrisons, Britain's fourth-largest supermarket chain, bought the stake for 31 million pounds in 2011.. David Potts, a former Tesco...

  • Aug 15- Domino's Pizza Inc will begin selling salads nationwide on Monday through a partnership with Ready Pac Foods to broaden the appeal of its menu amid intense competition from other restaurants and retailers, including grocery stores. Domino's will sell each of the three salads it offers for $5.99, when paired with other items from its mix and match menu.

  • PACARAIMA, Brazil, Aug 10- Government employee Jose Lara this month used some vacation days to take a long scenic bus ride through the verdant plateaus and sweeping savannas of southern Venezuela, but the trip was anything but a holiday. It was a 36- hour grocery run. Lara took an overnight bus and then a pick-up truck to get across the border to neighboring Brazil to...

  • LONDON, Aug 9- British supermarket WM Morrison agreed improved terms with its online partner Ocado which will allow it to extend home delivery across the country using its own stores to provide some products. The supermarket announced a separate wholesale deal to supply Amazon with fresh and frozen food in Britain earlier this year. Morrisons was trading up...

  • LONDON, Aug 9- British supermarket WM Morrison said on Tuesday it had agreed new terms with its online partner Ocado which will see it extend home delivery across the country using its own stores to pick products. Morrisons said under the new deal, a restriction on store picking had been lifted, a profit share agreement would be cancelled and its research and...

  • *2nd- qtr adj. profit $1.32/ shr vs. est. CVS boosted its specialty pharmacy business, which provides drugs to people with expensive chronic conditions such as rheumatoid arthritis, with its $10.1 billion acquisition of Omnicare Inc in August 2015. The Woonsocket, Rhode Island- based company raised full-year adjusted earnings to $5.81- $5.89 per share, from $5.73-...

  • The Woonsocket, Rhode Island- based company raised full-year adjusted earnings to $5.81- $5.89 per share, from $5.73- $5.88 it had expected earlier. CVS boosted its specialty pharmacy business, which provides drugs to people with expensive chronic conditions such as rheumatoid arthritis, with its $10.1 billion acquisition of Omnicare Inc in August 2015.

  • Aug 2- CVS Health Corp, the No. 2 U.S. drugstore chain by store count, reported a 17.6 percent rise in quarterly revenue, helped by strength in its pharmacy business. The company's net revenue rose to $43.73 billion in the second quarter ended June 30, from $37.17 billion, a year earlier. Net income attributable to CVS Health fell to $924 million, or 86 cents per share, from...

  • Reading a food label

    Obama has signed a law that would require all food labels to declare whether the item contains GMO's, NBC News reported.