The Campbell Soup Company reported a jump in 10 percent for its fourth quarter sales and a 7 percent increase for its full year sales from the year before, driven by its simple meals, baked snacks and vegetable-based beverages segments.
Despite flat U.S. soup sales, fourth quarter overall sales remained strong.
In the U.S., “Swanson” broth, “Goldfish” crackers and beverages such as "V8" vegetable juice saw double digit increases in sales for the year while in Asia, sales of Godiva Chocolatier products contributed to growth.
Full year earnings per share from continuing operations were $1.95, up by 13 percent from $1.73 in 2006, excluding items impacting comparability.
For fiscal year 2008, Campbell expects sales growth to exceed 3 percent, partly due to a 53rd week of sales, and an earnings per share growth of between 5 to 7 percent from 2007.
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In response to consumer research and the global trend for convenience, South Africa's Pick n Pay has opened its first small format convenience store in Fairland, Johannesburg.
Marks & Spencer has opened its first store in mainland China with hopes that it might lift flagging results. As the flagship store opened on West Nanjing Road, Shanghai’s premier shopping street, the UK retailer reported its worst performance for three years with like-for-like UK sales down by over six per cent over the last three months.
Sorin Minea, chairman of the Romanian Federation of Food Industry Business Owners (Romalimenta) says the food industry is currently overdeveloped in Romania and explains that the weight of current expenses...
US grocers including Whole Foods Market, Kroger and Stop & Shop have had to hire third party verifiers to root out produce that contains pesticide residue despite organic seals. Some supposedly organic producers are certifying conventionally-grown produce in order to increase the price.
Tesco, Britain's biggest retailer, has shown it operates best in tough markets, racking up a 10.3 per cent increase in profit of €1,824 billion for the first six months of 2008 to 23 August. Total sales rose 13.8 per cent to €32.1 billion.
Metro is currently a patchwork of conventional grocery stores under the banners A&P, Dominion, Loeb, The Barn, Ultra and Food Basics. What the third-largest grocer in Canada is planning to do is change banners in order to shed stale concepts and mixed consumer impressions.
