Lisa's Feed
Jul 2, 2014

Kroger offers $280 million for Vitacost.com in health play

By Lisa Baertlein and Shailaja Sharma

(Reuters) – Kroger Co said on Wednesday it would buy Vitacost.com Inc, a health products retailer, for about $280 million in a bid to expand its presence in the profitable health and wellness niche popularized by Whole Foods Market Inc.

A growing number of U.S. shoppers are willing to pay extra for products such as organic foods, local produce and specialty items such as vitamins and other supplements. Eyeing bigger profits, grocery sellers from Kroger to Wal-Mart Stores Inc and drugstore chain CVS Caremark Corp are hoping to cash in on the trend.

Jun 27, 2014

U.S. retailers nervous as West Coast port labor talks running out of time

LOS ANGELES (Reuters) – With peak shipping season approaching, U.S. retailers are anxiously monitoring labor negotiations affecting 20,000 workers at West Coast ports that handle more than 40 percent of goods shipped in ocean containers.

The six-year contract between dockworkers and the employers who operate port terminal and shipping lines expires on July 1 at 5 p.m. PDT (0000 GMT). It covers workers at 29 ports from California to Washington state, including major hubs in Los Angeles/Long Beach and Seattle/Tacoma.

Jun 27, 2014

Retailers nervous as West Coast port labor talks running out of time

LOS ANGELES (Reuters) – With peak shipping season approaching, U.S. retailers are anxiously monitoring labor negotiations affecting 20,000 workers at West Coast ports that handle more than 40 percent of goods shipped in ocean containers.

The six-year contract between dockworkers and the employers who operate port terminal and shipping lines expires on July 1 at 5 p.m. PDT (0000 GMT). It covers workers at 29 ports from California to Washington state, including major hubs in Los Angeles/Long Beach and Seattle/Tacoma.

Jun 20, 2014

Darden’s Olive Garden weak amid fight for board control

June 20 (Reuters) – Darden Restaurants Inc, battling
an activist investor that wants to replace its entire board of
directors, on Friday reported lackluster results at its flagship
Olive Garden chain as it prepares to complete the sale of Red
Lobster next month.

Starboard Value LP launched its effort to replace Darden’s
board shortly after the restaurant operator’s May 16
announcement that it planned to sell Red Lobster to Golden Gate
Capital for $2.1 billion.

Jun 20, 2014

Starbucks to raise prices on some drinks, packaged coffee

June 20 (Reuters) – Starbucks Corp on Friday said
it will raise prices on some drinks offered by its U.S. shops
and also boost list prices on its own brand of packaged coffee
sold in supermarkets and other retail outlets.

The action comes just weeks after J.M. Smucker Co
raised list prices of its well-known Folgers and Dunkin’ Donuts
brands, for the first time since 2011 because of soaring green
coffee costs.

Jun 19, 2014

American Apparel expects fight from ousted founder

LOS ANGELES June 19 (Reuters) – The board of hipster
clothing brand American Apparel Inc has ousted founder
Dov Charney as chairman and said it was preparing for the
controversial executive to fight his removal.

American Apparel replaced the 45-year-old Charney as
chairman late Wednesday, citing unspecified allegations of
misconduct. It also said it suspended him as president and chief
executive officer, and plans to fire him for cause, following a
30-day period stipulated in his contract.

Jun 12, 2014

U.S. food makers sue to stop Vermont’s GMO labeling law

June 12 (Reuters) – Several industry groups representing
U.S. food makers on Thursday asked a federal judge in Vermont to
block that state’s new law that will require labels on food
products made with genetically modified organisms (GMOs).

The legal challenge was widely expected and Vermont created
a “food fight fund” in anticipation of the move because it was
the first state to pass a GMO labeling law that did not require
other states to go first.

Jun 10, 2014

Dunkin’ Donuts shops to return to California this year

LOS ANGELES, June 10 (Reuters) – Dunkin’ Donuts on Tuesday
said franchisees will open five “traditional” shops in
California before the end of 2014, ending the coffee and baked
goods chain’s dozen-year absence from the nation’s most populous
state.

Exact opening dates for the stand-alone outlets in Downey,
Long Beach, Modesto, Santa Monica and Whittier will be announced
later this summer, according to Dunkin’ Donuts, which previously
had scheduled its California return for 2015.

Jun 9, 2014

Tyson wins bid for Hillshire in battle of meat titans

June 9 (Reuters) – Tyson Foods Inc won the bidding
war for Hillshire Brands Co with an all-cash offer that
values the maker of Jimmy Dean sausages at $8.55 billion and
would be the biggest deal yet for the global meat business.

Tyson, the largest U.S. meat processor, on Monday announced
an agreement to buy Hillshire for $63 per share. That topped
last week’s $55 bid from Pilgrim’s Pride Corp, which is
majority owned by Brazilian meatpacking giant JBS SA.

Jun 9, 2014

Asia stocks rise on brightening U.S. economic prospects

NEW YORK (Reuters) – Asian stocks basked in the glow of a record close on Wall Street after bright U.S. jobs data pointed to improving economic momentum, while the dollar gained on Monday on rising U.S. Treasury yields.

U.S. jobs data on Friday showed that nonfarm payrolls increased by 217,000 last month, bringing employment back to its pre-recession level and validating the view that labor conditions are improving. The unemployment rate held steady at a 5-1/2 year low of 6.3 percent. (Full Story)

    • 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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