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Consumer Watchdog Group Wants Kraft Heinz To Stop Disparaging Healthy Foods in Ads

Kimberly Redmond | Equities.com |

A US consumer advocacy group has filed a complaint against food and beverage giant The Kraft Heinz Company (NYSE: KHC) for disparaging fruits and vegetables in a series of print and television ads that depicted kids turning their noses up at healthy foods.

On Wednesday, the Center for Science in the Public Interest (CSPI) said it filed the complaint with the Children’s Advertising Review Unit (CARU) of the Better Business Bureau, an industry-funded self-regulatory body, alleging the advertisements flouted established standards.


Dole Food To Merge With Total Produce To Create World's Largest Fresh Produce Company

Kimberly Redmond | Equities.com |

Dole Food Company is merging with Ireland-based Total Produce in a deal that would create the world’s largest fresh produce company, the two companies announced Wednesday.

The combined company, to be called Dole plc, will be listed on a US stock exchange and have global headquarters in Dublin with American headquarters in Charlotte, North Carolina.


Nestlé Beats Q3 Estimates, Raises Full-Year Guidance

Reuters | Equities.com |

Nestlé raised its guidance for 2020 organic sales growth to around 3% after beating third-quarter expectations on Wednesday with 4.9% growth driven by strong demand for pet food, coffee and health products.

Nestle shrugs off pandemic impact, raises guidance

The world’s biggest food group has weathered the COVID-19 pandemic better than some peers as its focus on high-growth categories helped offset a slump in food sales to ...


Nestlé To Sell North American Bottled Water Brands Including Pure Life and Poland Spring

Reuters | Equities.com |

Nestlé has kicked off the sale of its North American water brands including Pure Life and Poland Spring, according to four sources familiar with the matter, as the world's largest food group continues to exit slow-growth businesses.

The brands being sold, which also include Deer Park, Ozarka, Ice Mountain, Zephyrhills and Arrowhead, could fetch around $5 billion, said one of the sources, based on core earnings of around $600 million.


Producer Prices Jump 0.4% in September; Food Costs Rise By Most Since May

AP News | Equities.com |

U.S. wholesale prices jumped 0.4% in September as food costs rose by the largest amount since May.

The Labor Department said Wednesday that the September increase in its producer price index, which measures inflation before it reaches the consumer, followed a 0.3% rise in August and a 0.6% surge in July which had been the biggest monthly gain since late 2018.

The 0.4% September rise was bigger than economists had been expe...


Mars Changing Name and Branding of Uncle Ben's Rice

Reuters | Equities.com |

Mars Inc said on Wednesday it was changing the name and branding of its Uncle Ben’s rice products after the brand came under fire for promoting racial stereotypes.

The company said it would drop the logo of an elderly African-American man wearing a bow tie on the 70-year-old brand and replace it with an orange package with Ben’s Original’ written in a blue font. The brand was named after a Texas rice farmer.

Mars joins a growing list of com...


Kraft Heinz Sees Q3 Sales Growth, Commits To Increasing Marketing, Overhauling Supply Chain

Reuters | Equities.com |

By Richa Naidu

CHICAGO (Reuters) - Kraft Heinz Co on Tuesday forecast better than expected quarterly sales growth and said it would step up its marketing budget and overhaul of its supply chain, hoping to save $2 billion by 2024 and halt weak sales and brand deterioration.

Shares in Chicago-based Kraft Heinz jumped 3.5% in premarket trading. The company said it expects third-quarter net sales growth in the mid-single digit range versus last year. This compares with analyst...


Nestlé on Track To Meet Goal of 100% Recyclable or Reusable Packaging by 2025

Reuters | Equities.com |

Nestlé has increased the share of recyclable or reusable packaging for its products to 87%, making progress toward its 100% goal by 2025, and gave examples of innovation to cut plastic waste in a media briefing on Monday.

Regularly cited by environmental groups such as Greenpeace as one of the top plastic polluters, the food giant has vowed to reduce its use of new plastics by a third by 2025 and spend up to 2 billion Swiss francs ($2.19 billion) to bo...


Campbell Soup Beats Estimates for Fiscal Q4 But Guides Toward Lower Sales as Lockdowns Ease

Reuters | Equities.com |

Campbell Soup Co on Thursday forecast first-quarter revenue largely above market estimates due to pandemic-buying, but said it expects sales to drop off in the second-half of its fiscal year as people start dining out again, sending shares down 2% in early morning trading.

The packaged food industry has seen an unprecedented wave of demand since the start of the Covid-19 pandemic, with people on lockdown stocking their pantries and ea...


JM Smucker Beats Quarterly Estimates, Raises Full-Year Forecast

Reuters | Equities.com |

J.M. Smucker Co on Tuesday raised its full-year targets after beating Wall Street estimates for first-quarter earnings and revenue on strong demand for its coffee, frozen sandwiches and peanut butter from stuck-at-home consumers.

Shares rose as much as 9% as the Jif peanut butter maker posted a 23% jump in sales at its U.S. retail coffee business.

“It has been a long time since Smucker did anything but lower its revenue outlook after reporting fiscal Q1; so, today’s raise is rare.”


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