Food and Staples Retailing


  • WASHINGTON, June 25- The senior U.S. senator from Illinois said on Wednesday he hopes that Walgreen Co, the major drugstore chain based in his state, will not relocate its tax home base to Switzerland, as some of the company's investors favor.

  • Rising food costs may not hit consumers Tuesday, 24 Jun 2014 | 2:30 PM ET
    A worker shelves cans of soft drinks at a Kroger Co. grocery store in Louisville, Kentucky, June 17, 2014.

    Rejoice, grocery shoppers! Food and grocery companies might just eat the cost of inflation themselves, executives told CNBC.

  • June 24- Walgreen Co, the largest U.S. drugstore operator, withdrew its profit and revenue forecasts for 2016, saying it had yet to work out several aspects of its planned acquisition of European drug retailer Alliance Boots Holdings Ltd..

  • June 24- Walgreen Co, the largest U.S. drug retailer, reported a lower-than-expected quarterly profit and said it was withdrawing its forecast for 2016 as it moves toward the complete acquisition of Alliance Boots Holdings Ltd. Walgreen said it would update investors on the Alliance Boots transaction and issue a new forecast by late July or early August.

  • Walgreen quarterly profit rises 16 pct Tuesday, 24 Jun 2014 | 7:40 AM ET

    June 24- Walgreen Co, the largest drug retailer in the United States, reported a 15.7 percent rise in quarterly profit, helped by strong growth in prescription sales. Net income rose to $722 million, or 75 cents per share, in the quarter ended May 31, from $624 million, or 65 cents per share, a year earlier. Sales rose 5.9 percent to $19.40 billion.

  • Not enough preservatives?! Velveeta recalled Friday, 20 Jun 2014 | 7:47 AM ET

    Velveeta, a processed cheese, is getting yanked off the shelves in 12 states for not having enough preservatives.

  • June 19- Drugstore operator Rite Aid Corp said higher drug costs and a fall in reimbursement rates would continue into the second quarter, sending it shares down 4.4 percent. Rite Aid's shares have been on a tear for most of the past year, until the company warned on first-quarter profit and cut its full-year earnings forecast earlier this month.

  • June 19- Kroger Co, the biggest U.S. supermarket operator, raised its forecast for full-year adjusted profit and same-store sales growth, helped by its acquisition of grocer Harris Teeter Supermarkets Inc.. Kroger raised its adjusted profit forecast to $3.19- $3.27 per share for fiscal 2014 from $3.14- $3.25 per share.

  • Heineken eyes booming African beer market Thursday, 19 Jun 2014 | 9:02 AM ET

    African drinkers are after beer "quality" over price, Heineken's boss for the region told CNBC, as the drinks giant eyes the booming market.

  • June 19- Kroger Co, the biggest U.S. supermarket operator, reported a better-than-expected quarterly profit, helped by its acquisition of grocer Harris Teeter earlier this year. Shares of Kroger, which owns the Ralphs, Smith's and Food 4 Less chains, were up 4 percent at $49.25 in premarket trading.

  • June 19- Drugstore operator Rite Aid Corp's quarterly profit more than halved, hurt by higher-than-expected drug costs and a bigger-than-anticipated fall in reimbursement rates. Rite Aid said a delay in the expected fall in prices of generic medicines raised its drug costs.

  • Starbucks offers shocking new perk for workers Monday, 16 Jun 2014 | 4:15 AM ET

    Starbucks is rolling out a program that would allow its workers to earn an online college degree at a steeply discounted rate.

  • The nation's largest drugstore chain, based in Illinois, is under pressure from some of its shareholders to do a deal known as a tax inversion with Alliance Boots Holdings Ltd that would shift Walgreen's tax domicile overseas.

  • Sainsbury's sales fall as King era draws to a close Wednesday, 11 Jun 2014 | 2:10 AM ET

    LONDON, June 11- Britain's J Sainsbury posted a second straight fall in quarterly underlying sales as Chief Executive Justin King prepares to step down from the grocer after 10 years at the helm.

  • June 5- Drug retailer Rite Aid Corp estimated first-quarter profit much below analysts' expectations due to higher-than-expected drug costs and a bigger-than-expected fall in reimbursement rates. Rite Aid's shares fell as much as 14 percent on Thursday on the New York Stock Exchange.

  • LONDON, June 4- Britain's biggest retailer Tesco recorded its worst quarterly UK sales drop in 40 years, raising questions over boss Phil Clarke's strategy to counter the challenges of a rapidly-changing grocery industry. They are turning to fast-growing discounters Aldi and Lidl for basics and Waitrose and Marks& Spencer for top end treats.

  • Last orders: Are hipster brewers up for sale? Friday, 30 May 2014 | 6:15 AM ET

    Craft beer has exploded on to the market, but the hop price rise could spell the end of small brewers and make it a ripe sector for M&A.

  • Summer grillin' with FAKE meat?! Friday, 23 May 2014 | 1:46 PM ET

    Soaring beef prices have some consumers opting for meatless meat, Gardein founder Yves Potvin told CNBC.

  • UPDATE 3-Staples warns of falling sales, shares slump Tuesday, 20 May 2014 | 1:48 PM ET

    May 20- Staples Inc forecast a fall in sales in the current quarter as customers shift to e-retailers, mass merchants and drugstores to buy their office supplies, and the company reported its weakest quarterly gross margins since May 2003.

  • UPDATE 1-Staples forecasts fall in sales, shares drop Tuesday, 20 May 2014 | 7:14 AM ET

    May 20- Staples Inc forecast a decline in sales in the current quarter as it struggles to win back shoppers who have shifted office supply purchases to e-retailers, mass merchants and drugstores.