Heinz said first-quarter profit fell 11% due to higher marketing spend and costs from spinning-off its Starkist tuna and 9-Lives petfood brands to shareholders and Del Monte.
Net profit at the food and ketchup maker fell to $177.8m from $200.5m. Sales rose 6.1% to $2.2bn boosted by the acquisition of Classico pasta sauce, Delimex Mexican foods and TGI Friday's frozen snacks.
Volumes fell 4.6% and Heinz said it expected them to fall further before a shift from trade promotion to more consumer-oriented advertising took effect, and because of inventory reduction by its customers.
n Nestlé £lear
Nestl駳 $2.6bn deal for US frozen food producer Chef America has been cleared by the US Federal Trade Commission. Chef America is best known for its frozen hand-held food products sold under the Hot Pockets, Lean Pockets and Croissant Pockets brands.
n souper sales
Campbell Soups sales for the year ended July 28 were up 6% to $6.133bn and net profits were $525m.
Campbell is two years into a three-year restructure to boost its US soup business.
n Thai curbs
Foreign retailers in Thailand such as Tesco and Carrefour may face curbs by the end of the year as the government tries to help smaller retailers to compete. Legislation to be put before the parliament next month demands retailers seek government approval for new stores.
n Japanese bid
Danone plans to ramp up the growth of its Volvic water brand in Japan by entering a joint venture with the Kirin Beverage corporation and Japanese conglomerate Mitsubishi.
The new company, 51% held by Kirin, 25% by Danone and 24% by Mitsubishi, will handle the import, marketing and sales of Volvic as well as the production, marketing and sales of Alkali Ion, the brand that will be brought to the company by Kirin.
n Sunny skyy
Italian drinks group Campari saw sales jump 31% to E306.5m in the period of its acquisition of US-based Skyy Spirits and the Sella & Mosca winery in Sardinia.
Net profit rose to E32m from E22.7m.
{{NEWS }}
Net profit at the food and ketchup maker fell to $177.8m from $200.5m. Sales rose 6.1% to $2.2bn boosted by the acquisition of Classico pasta sauce, Delimex Mexican foods and TGI Friday's frozen snacks.
Volumes fell 4.6% and Heinz said it expected them to fall further before a shift from trade promotion to more consumer-oriented advertising took effect, and because of inventory reduction by its customers.
n Nestlé £lear
Nestl駳 $2.6bn deal for US frozen food producer Chef America has been cleared by the US Federal Trade Commission. Chef America is best known for its frozen hand-held food products sold under the Hot Pockets, Lean Pockets and Croissant Pockets brands.
n souper sales
Campbell Soups sales for the year ended July 28 were up 6% to $6.133bn and net profits were $525m.
Campbell is two years into a three-year restructure to boost its US soup business.
n Thai curbs
Foreign retailers in Thailand such as Tesco and Carrefour may face curbs by the end of the year as the government tries to help smaller retailers to compete. Legislation to be put before the parliament next month demands retailers seek government approval for new stores.
n Japanese bid
Danone plans to ramp up the growth of its Volvic water brand in Japan by entering a joint venture with the Kirin Beverage corporation and Japanese conglomerate Mitsubishi.
The new company, 51% held by Kirin, 25% by Danone and 24% by Mitsubishi, will handle the import, marketing and sales of Volvic as well as the production, marketing and sales of Alkali Ion, the brand that will be brought to the company by Kirin.
n Sunny skyy
Italian drinks group Campari saw sales jump 31% to E306.5m in the period of its acquisition of US-based Skyy Spirits and the Sella & Mosca winery in Sardinia.
Net profit rose to E32m from E22.7m.
{{NEWS }}
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