LONDON (Reuters) – China’s crackdown on corruption, and with it luxury gift-giving, has again hit quarterly sales of spirits, European drinks groups Diageo Plc (DGE.L: Quote, Profile, Research, Stock Buzz) and Remy Cointreau SA (RCOP.PA: Quote, Profile, Research, Stock Buzz) said on Thursday.
In contrast, brewer SABMiller Plc (SAB.L: Quote, Profile, Research, Stock Buzz) said sales of lager in the last three months jumped 10 percent by volume in China, one of the markets that helped the maker of Peroni and Grolsch beers post a 6 percent rise in net sales by value, up from a 2 percent rise the previous quarter.
LONDON, Oct 17 (Reuters) – Strong sales of alcohol in the
Americas have helped European drinks firms to offset sluggish or
non-existent growth in Europe and Asia.
Diageo Plc, the world’s biggest spirits company,
reported a 3.1 percent rise in sales for its first quarter,
ended on Sept. 30.
LONDON, Oct 15 (Reuters) – Diageo, the world’s
biggest spirits group, should see sales growth in Africa
accelerate as it expands into new markets like Ethiopia and
Angola and rising incomes enable traditional beer drinkers to
try spirits, it said on Tuesday.
Africa currently generates 1.4 billion pounds ($2.2
billion)in annual sales for Diageo, accounting for 12 percent of
the group total, and sales have been growing at a compound
annual rate of 13 percent over the past decade.
DETROIT/LONDON, Oct 10 (Reuters) – The U.S. Department of
Energy will consider bids to purchase Fisker Automotive’s
government loan on Friday in what could be the start of a
lengthy and expensive process to revive the dormant green-car
Fisker, which has not built a car in about 15 months, does
not have enough money to pay millions in outstanding bills. The
company laid off most of its employees in April after running
short of cash, a month after co-founder and executive chairman
Henrik Fisker resigned.
NEW YORK/LONDON (Reuters) – Nestle (NESN.VX: Quote, Profile, Research, Stock Buzz) is looking to sell its Jenny Craig diet business and is speaking to a small group of potential buyers about the brand, according to three sources familiar with the matter.
The sources, who declined to be identified as talks are private, said on Tuesday that Nestle was working with Goldman Sachs on the sale process.
Munich (Reuters) – A decade ago, waitresses at Oktoberfest were the only ones in dirndls, the Bavarian peasant-inspired, corseted dresses featuring white blouses and colored aprons, and trendy Berliners wouldn’t dream of dancing to oompah music in public.
Now, Munich’s annual beer festival is a sea of traditionally-clad tourists, with revelers from as far away as Canada, Mexico and Iran donning dirndls or the equivalent outfits for men – lederhosen and checked shirts.
LONDON, Oct 1 (Reuters) – Nestle hinted on Tuesday
it was getting closer to disposing of bad brands and shaking up
its portfolio to deal with businesses that have underperformed
for too long.
The company’s chief executive Paul Bulcke told investors
Nestle had drawn up lists of businesses that could be fixed and
those that could not.
LONDON/NEW YORK (Reuters) – Nestle SA (NESN.VX: Quote, Profile, Research, Stock Buzz), the world’s largest food company, is looking to divest its PowerBar energy bars, a pioneer of sports nutrition products, according to four people familiar with the matter.
The sale of PowerBar could fetch several hundred million dollars, the people said this week. They asked not to be identified because the matter is private.
LONDON, Sept 26 (Reuters) – Dutch food and chemicals group
DSM has cut its 2013 earnings forecast, blaming
currency moves, the renewal of a Dutch “crisis tax” and weaker
demand for fish oil supplements.
Shares in the group, whose products are used to make a range
of goods from food to artificial joints to nylon, fell about 6
percent in early Thursday trading.
LONDON (Reuters) – Rakesh Kapoor, head of British consumer goods company Reckitt Benckiser Group (RB.L: Quote, Profile, Research), used to frown on people using his company’s most famous brands illegally to boost their own sales.
Now, as he holds aloft his iPhone in a bootleg cover emblazoned with RB’s Durex condom packaging, he says he embraces the practice – evidence of an executive who is open to change and willing to speak frankly about it.