April 17 (Reuters) – Chipotle Mexican Grill Inc on
Thursday said it will increase menu prices for the first time in
nearly three years, fueled by all-time high costs for steak as
well increasingly expensive avocados and cheese.
Shares of the popular burrito chain jumped as much as 6.5
percent on top-line results, but retreated 1.4 percent to
$544.68 in midday trading after executives said they expect food
costs to head even higher.
April 16 (Reuters) – The Vermont Senate passed a bill on
Wednesday that would make it the first U.S. state to enact
mandatory labeling of foods made with genetically modified
organisms, or GMOs.
Unlike bills passed last year in Maine and Connecticut,
which require other states to pass GMO labeling laws before they
can be enacted, Vermont’s contains no such trigger clause.
(Reuters) – The Vermont Senate passed a bill on Wednesday that would make the state the first in the United States to enact mandatory labeling of foods made with genetically modified crops.
“We are really excited that Vermont is going to be leading on this,” said Falko Schilling, a spokesman for the Vermont Public Interest Research Group, which backed the bill.
April 10 (Reuters) – Wal-Mart Stores Inc wants
Americans, even those on a budget, to buy more organic food.
The retailer that leads U.S. stores in grocery sales said on
Thursday it struck a deal to sell Wild Oats brand organic foods
at non-organic prices.
LOS ANGELES (Reuters) – Wintergreen Advisers, which says it owns more than 2.5 million shares of Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) on behalf of clients, on Thursday intensified its critique of the proposed 2014 equity compensation plan of the world’s biggest soda maker.
David Winters, the chief executive officer of Wintergreen, outlined his concerns with the compensation plan late last month in letters to Coca-Cola’s directors and investors, including Warren Buffett, CEO of Berkshire Hathaway Inc (BRKa.N: Quote, Profile, Research, Stock Buzz), which is Coca-Cola’s largest shareholder.
LOS ANGELES (Reuters) – MillerCoors, a U.S. joint venture between SABMiller Plc and Molson Coors Co, on Thursday said it had uncovered a multi-year scheme in which two former employees allegedly embezzled several million dollars.
“Based on an extensive internal and external investigation, MillerCoors believes former employee David Colletti embezzled several million dollars from the company over several years and that former employee Paul Edwards was involved to a lesser extent in the scheme,” company spokesman Jonathan Stern said in a statement.
LOS ANGELES (Reuters) – Kraft Macaroni & Cheese has been a favorite meal for generations of American children, but smaller brands made with more natural ingredients are starting to nibble at its market share, part of a trend that is biting into growth at large U.S. food companies.
Zenobia Godschalk, an Atlanta mother of two young boys, stopped buying Kraft’s “mac and cheese” after reading its complicated ingredient list. Now she buys Annie’s organic version in bulk at Costco Wholesale Corp (COST.O: Quote, Profile, Research, Stock Buzz).
LOS ANGELES, March 5 (Reuters) – Darden Restaurants Inc
has canceled its analyst and investor meeting slated for
later this month as two activist shareholders lobby for bolder
steps to improve performance at its chain eateries, ranging from
Olive Garden to Capital Grille.
Rather than hold the meeting, which was scheduled for March
28, the company will meet individually with analysts and
investors, a spokesman said on Wednesday.
(Reuters) – The activist investor seeking to split Darden Restaurants Inc into two companies said on Monday it has lost confidence in its chief executive’s ability to run the company.
Barington Capital Group LP wants Darden to put its more-mature Olive Garden and Red Lobster brands into one company and its higher-growth chains, including LongHorn Steakhouse and the Capital Grille, into another. It also has called on the company to create a publicly traded real estate investment trust (REIT) to unlock the value of its property holdings.
LOS ANGELES, March 3 (Reuters) – Investor Warren Buffett and
some Wall Street fund managers are divided on activist Nelson
Peltz’s renewed proposal to split PepsiCo Inc’s robust
snacks division from its beverage business.
The packaged food and beverage industry has been dogged by
lackluster demand, leading growth-seeking activist investors to
demand spinoffs and deep cost cuts to “unlock” value.