March 19 (Reuters) – Michael Kors Holdings Ltd
reported strong retail sales and raised its earnings outlook on
Monday, sending the fashion company’s shares up 3 percent in
The company, which went public in December after more than
three decades as a private firm, said it expects earnings of 14
cents to 16 cents per share in the fourth quarter of fiscal
2012, up from a prior forecast of 10 cents to 12 cents per
share. It now expects revenue of $350 million to $360 million,
versus a prior forecast of $350 million to $355 million.
CHICAGO, March 14 (Reuters) – Bacardi Ltd [BACLTD.UL]
is trying to tap more into the dark side of spirits, launching
its first cognac in the United States where it is known more for
white spirits like Grey Goose Vodka and its Bacardi Superior
Robert Furniss-Roe, president of Bacardi North America,
declined to give any details about what brand name the cognac
would carry, but said it was an example of what Bacardi was
doing to address growing U.S. demand for dark spirits, like
whiskey and cognac.
CHICAGO (Reuters) – Bacardi Ltd BACLTD.UL, known for its namesake rum and Grey Goose vodka, is moving deeper into cognac, a top company official said on Wednesday.
Robert Furniss-Roe, president of Bacardi North America, declined to give any details about what brand name the cognac would carry, but said it was an example of what Bacardi was doing to address growing U.S. demand for dark spirits, like whiskey and cognac.
CHICAGO (Reuters) – General Mills Inc’s (GIS.N: Quote, Profile, Research, Stock Buzz) mix of foods and its limited exposure to Italy and Greece have insulated it a bit from Europe’s economic crisis, one of the company’s top executives said on Wednesday.
The maker of Cheerios and other cereals has seen some European shoppers buy more items when they are discounted, or trade down to store brands, said Chris O’Leary, executive vice president and chief operating officer of the company’s international business.
(Adds details, comments on rye)
CHICAGO, March 13 – Beam Inc (BEAM.N: Quote, Profile, Research) has raised
prices on some of its alcoholic drinks this year as the U.S.
economy shows signs of improving and the company could have more
price increases as opportunities arise, according to a top
There could “possibly” be further price increases on the
horizon, Bill Newlands, Beam’s president of North America, said
on Tuesday at the Reuters Food and Agriculture Summit in
CHICAGO, March 13 (Reuters) – PepsiCo Inc is
rolling out the “Next” version of its flagship cola brand in the
United States later this month in an effort to court drinkers
who have given up on cola, as it seeks to win back lost share in
a shrinking market.
Pepsi Next, which has 60 percent less sugar and fewer
calories than Pepsi-Cola, will launch nationwide on March 26 and
will target people who do not want all the sugar of full-calorie
sodas, but are “resistant” to diet sodas.
CHICAGO (Reuters) – Consumers are shunning carbonated soft drinks in favor of bottled water, even in the face of recent price increases caused by commodity inflation, Nestle Waters North America’s top executive said.
And even though commodity prices have moderated, those increases are here to stay, said Kim Jeffery, president and chief executive of Nestle Waters North America, at the Reuters Food and Agriculture Summit in Chicago on Monday.
(Reuters) – PepsiCo Inc (PEP.N: Quote, Profile, Research, Stock Buzz) revamped its global structure on Monday in a move that deepens its management bench and could pave the way for an eventual successor to Chief Executive Indra Nooyi.
The company named John Compton, currently CEO of its Americas Foods division, to the newly created position of president of PepsiCo.
March 9 (Reuters) – Coca-Cola Co and PepsiCo
Inc are making changes to the production of an
ingredient in their namesake colas to avoid the need to label
the packages with a cancer warning.
The change will not be noticeable to consumers, according to
statements from both companies.
(Reuters) – Jack Daniel’s parent Brown-Forman Corp (BFb.N: Quote, Profile, Research, Stock Buzz) reported a weaker-than-expected quarterly profit on Wednesday and narrowed its full-year forecast, hurt by weak sales and margin pressure.
But the company, whose pricing power was hurt in the recession’s aftermath, said the time was becoming right for price increases, as a fragile recovery was leading some consumers to again buy premium alcoholic drinks.