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Food and Beverage Food and Staples Retailing

  • April 24- U.S. supermarket operator Supervalu Inc said on Tuesday it would sell eight of its distribution centers to an undisclosed buyer for about $483 million. Earlier this month Reuters reported, citing a source, that the company was exploring a potential sale following pressure from activist shareholders, including Blackwells Capital LLC.

  • April 24- U.S. supermarket operator Supervalu Inc said on Tuesday it would sell eight of its distribution centers to a buyer for about $483 million. The company said after it closes the sale, it will enter into lease agreements for each of the facilities for an initial term of 20 years with renewal options. Earlier this month, Reuters, citing a source, reported...

  • NEW YORK, April 23- Glenview Capital Management Chief Executive Larry Robbins said on Monday at the Sohn Investment Conference in New York that he still likes a trio of stocks he already owns, citing CVS Health Corp, McKesson Corp and Express Scripts Holdings. He also said speculation that Amazon.com Inc might be looking to enter the pharmacy business and...

  • JOHANNESBURG, April 19- South African retailer Pick n Pay Stores posted a 7.1 percent rise in full-year earnings on Thursday, as the grocer cut costs and increased productivity in store operations. Pick n Pay said headline earnings per share, the most widely used profit measure in South Africa that excludes some one-off items, rose to 276.98 cents in the year to...

  • Amazon has begun to make its physical presence known, buying the Whole Foods grocery chain last year and opening more than a dozen bookstores. Kohl's carved out space for Amazon shops in some of its department stores and Sears sells Kenmore appliances on Amazon.com. The new TVs are made by Toshiba and Best Buy Co.' s own brand, Insignia.

  • MIAMI— Target stores in Florida and Texas are now offering drive-up service. Other states with Target's drive-up service are Alabama, Georgia, Louisiana, Mississippi, Oklahoma and South Carolina. Walmart officers a similar drive-up service for groceries at some locations, but Target's service applies to any in-stock items at the store.

  • ZURICH, April 17- Nestle and European supermarket retailers are making progress toward settling a months-long price dispute but the Swiss food giant still needs to offer more concessions, German chain Edeka said on Tuesday. Nestle has for several months been facing off with AgeCore, a Geneva- based group representing six European retailers- including Edeka...

  • PARIS, April 17- French supermarket retailer Casino reported solid first-quarter sales on Tuesday, allowing it to keep its full-year profit goals on track thanks to accelerating sales at its French hypermarkets and signs of improvement in Brazil. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016, is under pressure to show it can revive...

  • ZURICH, April 17- Swiss food group Nestle and retailers including German grocer Edeka are approaching a compromise in their months-long price fight but the outcome of talks remains open, a source close to the negotiations said on Tuesday. Edeka, Germany's largest supermarket group, had written to its stores this month recommending they expand a boycott of some...

  • PARIS, April 17- French supermarket retailer Casino posted a 3.1 percent rise in first-quarter sales on Tuesday that reflected stronger sales at its Geant Casino hypermarkets and a resilient performance in Brazil despite food inflation. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and which has been criticized by U.S. activist...

  • PARIS, April 17- French supermarket retailer Casino posted a 3.1 percent rise in first-quarter sales on Tuesday that reflected stronger sales at its Geant Casino hypermarkets and a resilient performance in Brazil despite food inflation. Casino, whose credit rating was cut to junk by Standard& Poor's in March 2016 and which has been criticized by U.S. activist...

  • April 16- Shares of U.S. drugstore chains and drug distributors rose on Monday after CNBC reported https://www.cnbc.com/2018/04/16/amazon-business-not-selling-drugs-but-other-amaz o n- g r o u p s- m i g h t. h t m l that Amazon.com Inc had shelved its plans to sell and distribute pharmaceutical products to hospitals. Stocks of drug distributors McKesson,...

  • Kevin Johnson, Starbucks

    Starbucks CEO Kevin Johnson says it was "completely inappropriate" for employees to call the police in this case.

  • A Quarter Pounder hamburger is served at a McDonald's restaurant on March 30, 2017 in Effingham, Illinois. McDonald's announced today that it will start making the burger with fresh beef patties instead of the frozen beef that it currently uses.

    McDonald's recent sales growth should not be considered the norm, according to analysts at Stephens.

  • SYDNEY— Cash registers are working again at Woolworths Supermarkets in Australia. The company says a large number of its stores experienced an outage for about 30 minutes Monday because of an update to its IT systems. In a statement, Woolworths Group CEO Brad Banducci apologized to customers and employees for the inconvenience.

  • *Indonesia looking for new markets, promoting biodiesel use. JAKARTA, April 16- The Council of Palm Oil Producing Countries, a palm oil board led by Indonesia and Malaysia, said British supermarket chain Iceland's decision to remove palm oil from its own-brand food products misleads consumers. A demand boom for widely-used palm oil has led to palm plantations...

  • *Sees FY 2019 sales of $21.7 bln- $22.10 bln. *Sees FY 19 profit 2- 6 cents per share. It forecast an adjusted profit of 2 cents to 6 cents per share, compared with the estimate of 3 cents, according to Thomson Reuters I/B/E/S.

  • Revenue fell to $5.39 billion from $5.90 billion, missing the average analyst estimate of $5.57 billion, according to Thomson Reuters I/B/E/S. The company posted net loss from continuing operations of $483.7 million, or 46 cents per share, for the quarter ended March 3, compared with a loss of $25.1 million, or 2 cents per share, a year earlier.

  • BRUSSELS— The European Union executive is seeking to protect farmers by imposing fines on retailers and supermarket chains using unfair trade practices. EU Farm Commissioner Phil Hogan said Thursday the plan was "about giving voice to the voiceless" as small-scale farmers across the EU have struggled to eke out a living when faced with the negotiating power...

  • April 12- Drug retailer Rite Aid, which is being bought by U.S. grocer Albertsons Cos Inc, posted smaller-than-expected fourth-quarter revenue, hurt by a decline in commercial business and prescription volumes. Revenue fell to $5.39 billion from $5.9 billion. Analysts had expected revenue of $5.57 billion, according to Thomson Reuters I/B/E/S.