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Oct 16, 2012

Kroger raises long-term profit growth view; stock jumps

By Lisa Baertlein

(Reuters) – Kroger Co (KR.N: Quote, Profile, Research, Stock Buzz), the biggest U.S. supermarket operator, on Tuesday raised its long-term earnings growth target with plans to expand in existing markets and buy back stock, sending its shares up more than 4 percent.

Kroger, whose grocery chains include Ralphs, Fred Meyer, Smith’s and Food 4 Less, set its long-term earnings per share growth target at 8 percent to 11 percent, up from 6 percent to 8 percent previously, Chief Executive David Dillon said at the company’s investor conference in New York.

Oct 16, 2012

Starbucks’ U.S. stores begin selling its Verismo brewer

LOS ANGELES (Reuters) – Starbucks Corp’s (SBUX.O: Quote, Profile, Research, Stock Buzz) U.S. stores on Tuesday will begin selling the coffee chain’s new Verismo coffee and espresso brewer, which aims to grab a piece of the fast-growing single-serve market dominated by Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz) and Nestle SA (NESN.VX: Quote, Profile, Research, Stock Buzz).

Shares of Green Mountain tumbled when Starbucks first announced plans for the Verismo in March.

Oct 12, 2012

Ad blitz drains support for California GMO-labeling plan

LOS ANGELES (Reuters) – An intense advertising blitz, funded by Monsanto Co and others, has eroded support for a California ballot proposal that would require U.S. food makers to disclose when their products contain genetically modified organisms.

If California voters approve the measure on November 6, it would be the first time U.S. food makers have to label products that contain GMOs, or ingredients whose DNA has been manipulated by scientists.

Oct 11, 2012

Ad blitz pummels support for California GMO-labeling proposal

Oct 11 (Reuters) – An intense advertising blitz, funded by
Monsanto Co and others, has eroded support for a
California ballot proposal that would require U.S. food makers
to disclose when their products contain genetically modified
organisms.

If California voters approve the measure in November, it
would be the first time U.S. food makers would have to label
products that contain GMOs, or ingredients whose DNA has been
manipulated by scientists.

Oct 10, 2012

Yum says equipped to navigate China’s “ups and downs”

By Lisa Baertlein

(Reuters) – Yum Brands Inc (YUM.N: Quote, Profile, Research, Stock Buzz) expects to continue delivering consistent performance in China – its biggest market for sales and operating profit – despite economic uncertainty there, the restaurant company’s chief executive said on Wednesday.

Shares in the parent of the KFC, Taco Bell and Pizza Hut chains jumped nearly 10 percent the morning after the company raised its full-year profit forecast due to better-than-expected third-quarter earnings that were driven by solid results from China and the United States.

Oct 9, 2012

Yum raises forecast as China sales still surge

By Lisa Baertlein

(Reuters) – KFC parent Yum Brands Inc (YUM.N: Quote, Profile, Research, Stock Buzz) raised its full-year outlook on Tuesday after sales in China held up despite cooling economic growth in that market, the restaurant company’s largest.

Shares of Yum, whose other chains include Pizza Hut and Taco Bell, rose 3.6 percent after the company also reported a third-quarter profit that topped Wall Street’s expectations.

Oct 9, 2012

Yum profit beats estimates, China sales match Street

Oct 9 (Reuters) – KFC parent Yum Brands Inc raised
its full-year outlook after sales at established restaurants in
China held up, despite cooling economic growth in the restaurant
company’s largest market.

Shares of Yum, whose other chains include Pizza Hut and Taco
Bell, jumped 3.6 percent after the company also reported
third-quarter profit that topped Wall Street’s expectations.

Oct 4, 2012

Walmart says union’s LA protest has no impact

LOS ANGELES/CHICAGO (Reuters) – Walmart employees affiliated with a union-backed group walked off the job in Los Angeles on Thursday, protesting working conditions at the world’s largest retailer, which promptly defended itself, saying the “publicity stunt” was not having an impact on its business.

About 50 workers from nine stores in Los Angeles County walked off the job Thursday morning to protest what they say are unfair labor practices by Wal-Mart Stores Inc, sponsors of the action said.

Oct 4, 2012

U.S. Starbucks stores get Square mobile pay in November

By Lisa Baertlein

(Reuters) – Smartphone-wielding Starbucks customers in the United States will get a new way to pay in early November when the world’s biggest coffee chain begins accepting Square Wallet mobile payments at its roughly 7,000 company-operated U.S. stores.

Starbucks (SBUX.O: Quote, Profile, Research, Stock Buzz), which has embraced new technology ranging from social media to mobile payments, on Thursday said it also plans to add digital tipping next summer – something sure to thrill its baristas.

Sep 20, 2012

Starbucks to elbow in on Green Mountain with Oct debut of one-cup brewer

Sept 19 (Reuters) – Starbucks Corp announced
competitive prices for its new Verismo coffee and espresso
makers that could pose a threat to brewers from Green Mountain
Coffee Roasters Inc and Nestle SA, the
dominant players in the $8 billion single-serve coffee market.

The basic Verismo will sell for $199 while a larger version,
with temperature controls and self-cleaning, will be priced at
$399. Retail sales will begin in October, the company said late
on Wednesday. The prices were in line with analysts’
expectations.

    • About Lisa

      "Lisa writes about restaurants and grocery stores. She is based in Los Angeles and previously has covered computer software, Internet companies, video games, prescription drugs and municipal bonds."
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