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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 ...


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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.


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...


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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...


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...


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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...


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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...


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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.”


AP News | Equities.com |

More people are throwing plant-based burgers on the grill this summer.

Beyond Meat, which makes pea protein-based burgers and sausages, said Tuesday its second quarter revenue jumped 69% to $113 million as more households tried its products in the U.S. and elsewhere.

Sales far outpaced Wall Street’s forecast of $99 million, according to analysts polled by FactSet.

The El Segundo, California-based company reported a net loss of $10 million for the April-June period. Adjuste...


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Tyson Foods Inc named its president, former technology executive Dean Banks, as its new chief executive on Monday as the meatpacker faces unprecedented disruptions from the COVID-19 outbreak.

Tyson said Banks will replace 37-year company veteran Noel White in October as it reported lower-than-expected quarterly sales. The company predicted the pandemic will increase operating costs and hinder sales volumes into next year. ...