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CFO: 'Comfort Food' Will See Heinz Through
The company forecasts gains in both sales and profits through its 2009 fiscal year, even as other food companies falter. ... Continued »
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Executive Says Heinz Will Do Just Fine in Recession
H.J. Heinz’s low-priced “comfort foods” will help the company weather the turbulent economy, according to Art Winkleblack Heinz’s chief financial officer.
“Remember, we’re not selling cars or washing machines,” he said during an investor conference on Tuesday. “We’re selling one-, two-, three-dollar products. A lot of our products are comfort foods, so in these tough times […]
Food Articles
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Earnings Preview: The Hershey Company
The Hershey Company HSY is expected to report Q3 earnings before market open Thursday, October 16, with a conference call scheduled for 8:30 am ET.Guidance Analysts are looking for EPS of 65c on revenue of $1.45B. The consensus range is 63c to 67c for EPS, and revenue of $1.45B...
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The Coca-Cola Company Q3 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from Bill Pecoriello - Morgan Stanley. Bill Pecoriello - Morgan Stanley You mentioned the system's ability to adapt to the rapidly changing economic environment as a key competitive advantage. Can you give us some examples, some of the...
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Cadbury Cuts Jobs Despite Sales Rise
Cadbury PLC, the world's biggest lolly maker, is trimming its work force by 1.3 per cent as it moves to streamline operations even though it reported better third quarter sales.The maker of Dairy Milk chocolate and Trident gum posted a 6 per cent rise in underlying sales for the...
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Coca-Cola Third-quarter Profit Tops Wall Street View
NEW YORK (Reuters) - Coca-Cola Co KO reported better-than-expected quarterly profit on Wednesday as strong international demand offset falling volume at home, sending its shares up nearly 6 percent.The world's largest soft drink maker said net income for the third quarter ended on September 26 rose to $1.89 billion, or...
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Executive Says Heinz Will Do Just Fine in Recession
H.J. Heinz's low-priced "comfort foods" will help the company weather the turbulent economy, according to Art Winkleblack Heinz's chief financial officer. "Remember, we're not selling cars or washing machines," he said during an investor conference on Tuesday. "We're selling one-, two-, three-dollar products. A lot of our...
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Domino’s Pizza, Inc. F3Q08 Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Your first question comes from John Glass – Morgan Stanley. John Glass – Morgan Stanley David, first, can you just maybe provide a little colour on how bad the franchise financing environment is? Is it an absolute lack of access to capital or is it...
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SuperValu, Inc. F2Q09 (Qtr End 09/06/08) Earnings Call Transcript
Question-and-Answer SessionOperator Operator Instructions Our first question comes from Deborah Weinswig - Citigroup. Deborah Weinswig - Citigroup Pam, you stated that part of the issue as regards the SG&A side of things is the fact that SuperValu did not appropriately cut back labor hours. Is there a...
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PepsiCo, Inc. Q3 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from John Faucher - J.P. Morgan. John Faucher - J.P. Morgan So a quick question on the long-term impact of the restructuring program. As you look at the extra investment that you're getting, you know, how shall we...
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The Great Atlantic & Pacific Tea Company, Inc. F2Q08 (Qtr End 09/06/08) Earnings Call Transcript
Earnings Call Excerpt The Great Atlantic & Pacific Tea Company, Inc. GAP F2Q08 Earnings Call October 14, 2008 1:00 pm ET Executives William J. Moss – Vice President and Treasurer Christian W.E. Haub - Executive Chairman of the Board Brenda M. Galgano - Chief Financial Officer and...
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PepsiCo Profit Misses View, to Cut 3,300 Jobs
By Martinne GellerNEW YORK (Reuters) - PepsiCo Inc PEP reported a quarterly profit that missed Wall Street forecasts and cut its full-year outlook as an economic slowdown flattened soft drink demand, sending shares down more than 10 percent.PepsiCo also said on Tuesday it would cut 3,300 jobs, or roughly 1.8...
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Domino's Pizza Profit Misses View; Shares Dive
By Aarthi SivaramanNEW YORK (Reuters) - Domino's Pizza Inc DPZ posted a weaker-than-expected quarterly profit due to a sharp drop in U.S. sales, the biggest independent U.S. pizza chain said on Tuesday, and its shares fell as much as 19 percent.The company also said it was looking for alternate sources...
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Supervalu Posts Lower Profit, Cuts Full-year View
CHICAGO (Reuters) - Supervalu Inc SVU, the third-largest U.S. supermarket operator, posted a drop in quarterly profit on Tuesday as consumers hurt by the weak U.S. economy traded down to lower-cost store brands.The operator of the Albertsons, Jewel-Osco, Shaw's and Save-A-Lot chains, which has been grappling with higher food and...
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Cadbury Cuts More Jobs as Sales Rise 6 Pct
By David JonesLONDON (Reuters UK) - Confectionery giant Cadbury reported a 6 percent rise in third-quarter underlying sales as it announced a further 580 job cuts to keep it on track to meet its annual sales and profit margin goals.The London-based group, which makes Dairy Milk chocolate, Trident gum and...
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Advertising Roundup: Starbucks' Surprise Hit, NBA's New Partner, MySpace's MyAds, and More
Lessons from the 1970s recession -- AdAge reprises a piece from its archives on what marketers, media, and agencies did right and wrong during the recession of 1973-1975. [Source: AdAge] Starbucks makes oatmeal trendy -- Starbucks has stumbled upon a hit product that has taken even the...
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Europe Shares Cheer Bank Rescue and Post Record Surge
FRANKFURT (Reuters UK) - European shares soared by a record 9.2 percent on Monday, with financials in the lead in reaction to measures hammered out by government leaders and central bankers to revive credit markets and bail out banks.The FTSEurofirst 300 index of top European shares ended unofficially with...
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Ruby Tuesday F1Q09 (Qtr End 9/2/08) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Our first question is from the line of Steven Rees with J.P. Morgan. Steven Rees - J.P. Morgan Thank you. Just on the debt covenants with the $40 million of debt pay-down this quarter and I guess 80 to 90 expected for this year,...
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Yum! Q3 2008 Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Your first question comes from the line of Joe Buckley of Banc of America. Joe Buckley - Banc of America Thank you. Rick, I would like to explore your comments about the commodities a little bit further. I think on the last...
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Yum Q3 Net Rises, Sees 2008 Profit Down
By Lisa BaertleinLOS ANGELES (Reuters) - Yum Brands Inc YUM, the parent of Taco Bell, Pizza Hut and KFC, posted higher third-quarter earnings on Tuesday on overseas strength, but forecast an 8 percent drop in 2008 U.S. profits amid a sharp economic downturn.Yum reiterated its 2008 outlook calling for 12...
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Safeway F3Q08 (Qtr End 9/6/08) Earnings Call Transcript
Question-and-Answer Session Operator Operator Instructions Our first question today is from John Heinbockel and please state your company name. John Heinbockel - Goldman Sachs Steve, a couple of things; if you look at the up-tick in ID momentum here in the last five weeks, could you talk about...
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News Corp pays USD200m for VeriSign's Jamba stake
News Corp is fully acquiring Jamba, paying USD200m for VeriSign's remaining 49% stake in the mobile entertainment firm. News Corp and VeriSign previously ran Jamba as a joint venture after News Corp bought 51% of the VeriSign subsidiary in 2007. ...
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Dan Mitchell
Dan Mitchell has spent the past 20 years writing and editing for newspapers, magazines, and Web publications. Currently, he writes the What's Online column for the Saturday business section of the New York Times. He has also written for the Chicago Tribune, the Minneapolis Star-Tribune, National Public Radio, Business 2.0, and Wired. more »
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AboutFood Industry
BNET Food provides daily industry news coverage and insights for managers and executives, focusing on the major companies in the food and beverage sector, from manufacturers to retailers. In addition to detailed company profiles, we bring you critical analysis on new alliances and partnerships, new products, mergers and acquisitions, labor and cost management, investments and deal flow, and a host of other important business issues.