News
An employee sweeps the sidewalk in front of a Taco Bell fast food restaurant in New York December 7, 2006. REUTERS/Keith Bedford

Yum Brands to globalize Taco Bell chain: report

(Reuters) - Yum Brands Inc wants to build its Taco Bell fast-food chain into a global brand with locations worldwide, its chief executive and chairman David Novak told the Wall Street Journal in an interview.

George Weston Limited Chairman and President Galen Weston listens to a shareholder's question during the bakers' annual general meeting in Toronto May 11, 2006. REUTERS/J.P. Moczulski

George Weston earnings little changed

Quarterly profit at George Weston Ltd was little changed, the company said on Tuesday, as hedging and restructuring charges offset slightly higher sales.

Pepsi Bottling to cut jobs, trims forecast

The Pepsi Bottling Group Inc announced restructuring plans on Tuesday that would eliminate some 3,150 jobs and cut its forecast for full-year earnings due to weaker foreign currencies.

Carlos Brito, chief executive of InBev, the world's biggest brewer, presents the company's annual results in Leuven February 28, 2008. REUTERS/Francois Lenoir

Regulators require InBev to sell Labatt USA

The U.S. Justice Department has given Belgium's InBev NV conditional approval to buy Anheuser-Busch Cos Inc in a $52 billion deal.

Pouring a glass of milk

Land O’Lakes revises Q3 outlook

Land O’Lakes Inc has lowered its third quarter net earnings from US$59.9 million to US$47.9 million as a result of ‘inventory valuation procedures’.

Dr Pepper bottles are seen inside a store in Port Washington, New York May 7, 2008. REUTERS/Shannon Stapleton

Dr Pepper profit misses view; '08 outlook cut

Dr Pepper Snapple Group Inc reported a smaller-than-expected third-quarter profit on Thursday and cut its full-year outlook, due in part to weakening economies in the U.S. and Mexico and the strengthening U.S. dollar.

McDonald's well positioned in face of recession: CEO

McDonald's Corp is shielded against recession and has hardly been hit by the international financial crisis, Chief Executive Jim Skinner was quoted as saying on Thursday.

Yum Brands cuts jobs as it sells owned restaurants

Yum Brands Inc will cut "several hundred" jobs as it sells company-owned KFC and Pizza Hut restaurants to franchisees and restructures its U.S. business, a spokesman for the fast-food chain said on Wednesday.

Starbucks misses earnings expectations

Starbucks Corp's cut its plans for new international coffee shops and effectively lowered its 2009 forecast after posting a steeper-than-expected decline in fourth-quarter profit.

A customer at the counter inside a McDonald's restaurant at the Times Square in New York. June 9, 2008. REUTERS/Shannon Stapleton

McDonald's October same-store sales up 8.2 percent

McDonald's Corp on Monday said global sales at its fast-food restaurants open at least 13 months rose 8.2 percent in October.

Tyson Foods' CEO Richard Bond speaks during the Reuters Food Summit in Chicago March 7, 2007. REUTERS/Joshua Lott

Tyson profit lifted by beef and pork

U.S. meat giant Tyson Foods Inc reported a larger quarterly profit on Monday as better results at its beef and pork units, due in part to strong pork exports, more than offset losses in its chicken and its prepared-foods businesses.

Fruit cheesecake

Sara Lee to reverse share-repurchase program

Sara Lee Corp has decided to reverse the decision to suspend its share buyback program one day after making the announcement.

Anheuser Busch, Inc. World Headqaurters in St Louis, July 14, 2008. REUTERS/Peter Newcomb

Anheuser profit meets view; silent on deal

Anheuser-Busch Cos Inc reported a quarterly profit in line with Wall Street expectations on Thursday, and remained silent on its planned takeover by Belgium's InBev NV .

Bud Light and Budweiser beer is shown in a cooler at the Toluca Mart liquor store in Los Angeles, California June 16, 2008. REUTERS/Fred Prouser

InBev sticks to Bud deal as results beat forecasts

World number-two brewer InBev insisted on Thursday its $52 billion takeover of Anheuser-Busch was on track after third-quarter results slightly exceeded expectations despite rocketing costs.

A customer takes a six-pack of Fosters beer cans from the fridge at a liquor store in Melbourne November 6, 2008. REUTERS/Mick Tsikas

Molson Coors takes interest in Foster's

North American brewer Molson Coors Brewing Co has emerged as holder of a 5 percent stake in Australian brewer Foster's Group Ltd , giving it a seat at the bar amid persistent takeover talk.

Thousands of newly-labelled bottles of Coors Light beer head for packaging at the Coors brewery in Golden, Colorado October 16, 2007. REUTERS/Rick Wilking

Molson Coors profit up on market share gains

Molson Coors Brewing Co reported a higher quarterly profit on Wednesday that met Wall Street expectations, helped by market share gains in Canada and Britain.

ADM profit soars on higher prices; shares jump

Archer Daniels Midland Co , one of the largest U.S. food processors and ethanol producers, reported sharply higher quarterly profit on Tuesday, helped by higher selling prices and an accounting change.

Dean Foods posts higher third-quarter profit

Dean Foods Co , the largest U.S. dairy company, posted a third-quarter profit that missed Wall Street forecasts, hurt by higher costs for organic milk and butter fat.

PepsiCo to invest $1 billion in China

PepsiCo Inc , a U.S.-based food and beverage company, said on Monday it plans to invest $1 billion in China over the next four years, as part of the company's strategy to expand in emerging markets.

Burger King profit misses view, keeps outlook

Burger King Holdings Inc posted a lower-than-expected quarterly profit on Friday as commodity costs and other expenses hurt margins, but the world's No. 2 hamburger chain stood by its full-year outlook.

Food can with opener

B&G Foods saw net sales drop in Q3

B&G Foods Inc reported that net sales fell 0.4 percent in the third quarter to US$116.5 million primarily due to a poor maple syrup crop in Canada.

Pilgrim's Pride shares slide below $1 after report

Pilgrim's Pride Corp's shares fell below $1 on Thursday, a day after a research report said there was a high probability the chicken producer would file for bankruptcy protection in December.

Hershey kisses

Idrovo joins Hershey from Dole

The Hershey Company announced October 29, that Javier H Idrovo has been appointed Senior Vice President, Strategy and Business Development, effective November 3.

Commuters walk past a closed Starbucks coffee store in central Sydney July 29, 2008. REUTERS/Daniel Munoz

Starbucks' business may have bottomed in Q4: CEO

Coffee chain Starbucks Corp may have weathered the worst of a sales slowdown as growth improved somewhat this month, its top executive said on Wednesday, and its share rose 8 percent.

Maple Leaf Foods slips to loss on recall costs

Maple Leaf Foods Inc reported a third-quarter net loss on Wednesday as charges mounted from a costly recall of tainted meat that the company said was now complete.

Kraft, Kellogg post better-than-expected results

Kraft Foods Inc and Kellogg Co posted better-than-expected third-quarter profits on Wednesday as price increases and new products helped lift sales in a weak economy.

Kraft brand macaroni and cheese boxes are shown in a store in Oakton, Virginia, September 18, 2008. REUTERS/Larry Downing

Kraft revenue beats estimates

Kraft Foods Inc posted slightly better-than-expected quarterly profit on Wednesday, helped by price increases and new products that boosted sales.

Procter & Gamble headquarters in Cincinnati, Ohio

Procter & Gamble CFO to retire

The Procter & Gamble Company has announced that Clayton C Daley Jr, Vice Chairman and Chief Financial Officer will retire effective September 16 2009, after 35 years of service.

Imperial Sugar appoints Kesselman and Stokely

Imperial Sugar Company has appointed industry veterans Ron Kesselman and John Stokely to its board of directors.

Pilgrim's Pride logo

Pilgrim’s Pride extends waiver

Pilgrim’s Pride Corp announced today, October 27, it has reached an agreement with its lenders to extend the temporary waiver under its credit facilities through November 26.

Tomatoes on the vine

Organic Alliance recruits new President

Organic Alliance Inc has appointed industry veteran Parker Booth as President of the organic food distribution firm.

salt and pepper

B&G Foods reduces workforce

B&G Foods Inc announced October 22, that it has begun implementing a 7.5 percent workforce reduction which will save an estimated US$3.7 million.

A McDonald's restaurant in a file photo. McDonald's reported better-than-expected quarterly profit on Wednesday, fueled by strong sales in the United States and abroad, sending its shares up 3.4 percent in premarket trade. REUTERS/Rick Wilking

McDonald's profit tops view; shares rise

As U.S. consumers visit fewer restaurants in a weak economy, McDonald's Corp is growing its business faster than rivals as it rolls out new chicken sandwiches and offers low-priced drinks.

Burger King worries credit crunch might bite franchisees

Burger King said the global downturn is pushing consumers to its stores in search of cheaper dining, but it worries that a prolonged credit crunch could hurt its franchisees' borrowing ability.

Wrigley's spearmint gum

Mars ousts Wrigley CEO

Mars Inc has replaced Wm Wrigley Jr Co’s CEO, William Perez, just two weeks after it completed its US$23 billion acquisition of the Chicago-based gum company.

Noodle dishes

Nikken Foods announces expansion at Japanese plant

Natural food company, Nikken Foods, has expanded its Fukuroi plant in Japan, installing a state-of-the-art spray drier.

Chocolate bar

Mars to implement GDA nutrition labelling

Mars Inc is to add Guideline Daily Amount (GDA) nutrition labelling on all its chocolate, non-chocolate confectionery and other food products as part of a global initiative the confectioner is taking around the world.

Yum's Long John Silver's to roll out healthy menu

Yum Brands Inc's Long John Silver's on Sunday said it would roll out its first non-fried fish menu items later this month as the restaurant industry responds to consumer calls for healthier food.

Hershey kisses

Hershey posts strong sales performance

The Hershey Company announced that net sales for the third quarter were US$1.49 billion, compared to US$1.40 billion in the prior year, an increase of 6.4 percent, despite the economic downturn.

Hardee's restaurant

CKE Restaurants posts increased sales, competition tough

CKE Restaurants Inc, which owns the Hardee’s and Carl’s Jr brands, reported that combined same-store sales were up 1.2 percent for the four weeks to October 6.

A Coca-Cola bottle is seen with other beverages in New York June 23, 2008. REUTERS/Shannon Stapleton

Coca-Cola beats third-quarter expectations

Coca-Cola Co posted a better-than-expected quarterly profit on strong international demand that offset a drop in volume at home, sending shares of the world's largest soft-drink maker up 6 percent.

Heinz logo

Heinz CFO says business remains strong

Art Winkleblack has said that the business is still seeing sales grow and is hitting its targets for the year, despite the economic downturn.

A Pepsi can in an undated image courtesy of the company. PepsiCo Inc reported a quarterly profit that missed Wall Street forecasts and cut its full-year outlook, hurt by an economic slowdown that flattened soft drink demand and a relatively stronger U.S. dollar. REUTERS/Handout

Pepsico reports Q3 results

PepsiCo Inc 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.

A Domino's Pizza in an undated photo. Domino's Pizza, the biggest independent U.S. pizza chain, posted a weaker-than-expected quarterly profit due to a drop in U.S. sales that overshadowed strong results from its international operations. REUTERS/Handout

Domino's Pizza profit misses Wall Street view

Domino's Pizza Inc 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.

Solar panel

McCormick & Co installs solar power system

McCormick & Co Inc has signed an agreement with Constellation Energy’s Projects & Services Group to construct a one megawatt solar power system.

Pepsi to reinvest in soft drink business

PepsiCo Inc said on Friday it is making a major multi-year investment in its soft drink business to restore growth in a business that has declined as U.S. consumers seek drinks they view as healthier.

CEO says listeria in Toronto meat plant no surprise

WINNIPEG, Maple Leaf Foods Inc Chief Executive Michael McCain said on Thursday it was not surprising to find listeria bacteria lingering in a Maple Leaf meat plant in Toronto whose products have been linked to at least 20 deaths in a food-poisoning outbreak.

Four new listeria cases found in Maple Leaf plant

Maple Leaf Foods halted distribution for a second time at a Toronto plant at the center of a tainted-meat crisis linked to at least 20 deaths after Canadian investigators found four new positive samples of listeria in products.

A Tim Hortons drive-thru

Tops Markets and Tim Hortons sign JV

Tops Friendly Markets and Tim Hortons have signed an agreement which will see the coffee chain and the supermarket in a joint venture.

Del Monte logo

Del Monte Foods completes sale of seafood business

Del Monte Foods Co has announced the sale of its seafood business, including Starkist, to South Korea-based Dongwon Industries Co Ltd and its subsidiaries.

Heinz logo

Heinz agrees to buy Golden Circle for US$220m

The Australian unit of H J Heinz Co has agreed to acquire Golden Circle Ltd, the canned juice and fruit producer, for A$288 million (US$220 million).

Walmart HQ

Walmart reveals new Marketside stores

Walmart Stores Inc is due to unveil the first of its Marketside stores in the Phoenix, Arizona area which will focus on fresh foods without the premium price tag.

Coke bottler Coca-Cola HBC cuts forecasts

Coca-Cola Hellenic Bottling Co cut forecasts for the second time this year after lower demand in Russia, the Athens-based company's biggest market.

Country of origin labels to be introduced

Labels revealing the country of origin of foods will shortly be introduced.

Plastic drinks bottle

Pepsi Bottling Q3 revenue up 2%

The Pepsi Bottling Group Inc saw revenue increase to US$3.8 billion, a rise of two percent, in the third quarter as it delivered solid earnings growth.

Eggs

Cal-Maine profits hit by feed costs

US egg producer Cal-Maine Foods Inc has reported that first quarter profit slumped 38 percent as higher feed costs outpaced stronger demand for eggs.

Spices

McCormick & Co sales up 9%

McCormick & Co has announced that sales increased in the third quarter, while earnings soared 21 percent.

Pilgrim's Pride logo

Pilgrim’s Pride anticipates loss

Pilgrim’s Pride Corp has warned its lenders that it expects to report a “significant loss” in the fourth quarter as high feed ingredient costs and continued weak pricing hit the US chicken company.

cherries

Dole Foods completes sale of JP Fresh

Dole Food Company has signed an agreement to sell its JP Fresh business in the UK as part of a number of pending asset sale transactions.