NEW YORK (Reuters) – Coca-Cola Co and McDonald’s Corp fired back at New York City Mayor, Michael Bloomberg on Thursday for proposing a ban of large-sized soft drinks at restaurants and other food service outlets.
“New Yorkers expect and deserve better than this. They can make their own choices about the beverages they purchase,” Coca-Cola said in a statement.
By Mihir Dalal and Martinne Geller
(Reuters) – Green Mountain Coffee Roasters Inc (GMCR.O: Quote, Profile, Research, Stock Buzz) independent director Douglas Daft resigned from its board this week at a time when concerns of slowing growth and allegations of accounting malpractices have hammered the stock.
Green Mountain, the maker of Keurig one-cup coffee brewers, reported the resignation of the former Coca-Cola Co (KO.N: Quote, Profile, Research, Stock Buzz) CEO on Thursday in a filing with the U.S. Securities and Exchange Commission.
May 24 (Reuters) – H.J. Heinz Co reported slightly
weaker-than-expected fourth-quarter sales, hurt by a decline in
North America, and lowered its earnings forecast for the new
fiscal year and beyond.
The ketchup maker’s shares fell 2 percent, even though its
quarterly profit topped the average Wall Street estimate.
May 21 (Reuters) – Campbell Soup Co reported
better-than-expected quarterly earnings on Monday but left its
full-year forecast unchanged as it continues trying to turn
around its North American soup business.
Campbell, whose shares fell 1.8 percent in morning trade,
has endured several winters of weak soup sales, hurt by heavy
discounting and increased competition with other simple meals.
Its chief executive, Denise Morrison, has pledged to stabilize
and then grow the business by introducing new products and
reinvigorating its advertising.
(Reuters) – Home Depot Inc posted quarterly sales that fell short of Wall Street’s heightened expectations on Tuesday after demand slowed in April following a jump in home improvement projects spurred by an unusually warm winter.
But results were stronger than the company expected, as the warm weather pushed forward a significant amount of sales that would have normally occurred in the second quarter.
By Brad Dorfman and Martinne Geller
(Reuters) – Best Buy Co Inc founder Richard Schulze is stepping down as chairman after he failed to tell the board that a former chief executive had an improper relationship with a female employee, the electronics retailer said on Monday.
Best Buy said the board’s investigation had found that former CEO Brian Dunn’s relationship “negatively impacted the work environment,” but involved no misuse of company resources.
May 14 (Reuters) – Best Buy Co Inc founder Richard
Schulze is stepping down as chairman after he failed to tell the
board that former Chief Executive Brian Dunn had violated
company’s policy by having “an extremely close personal
relationship” with a female employee, the electronics retailer
said on Monday.
Best Buy said an investigation by the board had found that
Dunn’s relationship “negatively impacted the work environment,”
but involved no misuse of company resources.
May 8 (Reuters) – Green Mountain Coffee Roasters Inc
(GMCR.O: Quote, Profile, Research) stripped its founder, Robert Stiller, of his role as
chairman and demoted another director for selling company shares
at a time when trading by insiders was prohibited.
The maker of Keurig single-serve coffee brewers said on
Tuesday the two men sold their shares to cover margin calls
following a near 50 percent drop in Green Mountain’s stock price
since it reported disastrous quarterly results last Wednesday.
(Reuters) – Tyson Foods Inc (TSN.N: Quote, Profile, Research, Stock Buzz) posted higher-than-expected second-quarter profit, as price increases helped offset weak beef sales, and expressed optimism about the full year.
The nation’s largest meat processor said it expects to gain momentum in the third and fourth quarters.
North America’s largest packaged food maker also said on Thursday it was on track with plans to split into two companies later this year. It also reaffirmed its full-year growth targets.