Journalist, New York
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Oct 30, 2013

McDonald’s and Kraft to test grocery coffee sales in 2014

By Phil Wahba and Lisa Baertlein

(Reuters) – McDonald’s Corp (MCD.N: Quote, Profile, Research, Stock Buzz) and Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) plan in 2014 to test sales of McCafe-branded packaged coffees at grocery stores and other retail locations in multiple U.S. markets, the companies said on Wednesday.

The tests will include packages of whole bean and ground coffee as well as “single-cup” options, which typically include K-cups for Green Mountain Coffee Roasters’ (GMCR.O: Quote, Profile, Research, Stock Buzz) popular Keurig brewer. Test markets and pricing were not disclosed.

Oct 30, 2013

Kraft revenue misses on weak Jell-O, mayo sales

By Phil Wahba

(Reuters) – Kraft Foods Group Inc (KRFT.O: Quote, Profile, Research, Stock Buzz) reported lower-than-expected quarterly revenue on Wednesday, hurt by lower prices on some beverages, and by soft sales of mayonnaise, salad dressing and Jell-O desserts.

Net revenue declined 4.2 percent to $4.39 billion, in large part because a year earlier Kraft had higher shipments to retailers ahead of its spin-off from Mondelez International Inc (MDLZ.O: Quote, Profile, Research, Stock Buzz). About 1 percentage point of that was from lower pricing to attract customers.

Oct 16, 2013

EBay holiday quarter outlook disappoints on U.S. weakness

Oct 16 (Reuters) – EBay Inc on Wednesday gave a
disappointing holiday forecast, blaming a weaker U.S.
macroeconomic environment, sending shares down 4.5 percent in
after-hours trading.

The e-commerce company reported a higher third-quarter
profit on Wednesday as consumers made greater use of its PayPal
service.

Oct 14, 2013

Macy’s stores to open on U.S. Thanksgiving for first time

NEW YORK (Reuters) – Macy’s Inc (M.N: Quote, Profile, Research, Stock Buzz) said on Monday that most of its stores will open on the U.S. Thanksgiving Day holiday for the first time in its history, in a sign of how competitive the holiday season is shaping up.

Macy’s will open the doors at most of its 800 namesake department stores, at 8 p.m. on Thursday, November 28. The company said the shift was voluntary for workers and that the move was “consistent” with what many rivals are doing.

Oct 10, 2013

U.S. retailers’ September sales rise modestly, shoppers wary

NEW YORK, Oct 10 (Reuters) – U.S. shoppers remained cautious
in September, gravitating toward bargains as their confidence
took a hit from political strife in Washington and slow job
growth, just weeks ahead of the start of the holiday season.

A group of eight U.S. retailers, excluding drugstores,
reported a 2.2 percent rise in September same-store sales, lower
than the 3.1 percent growth analysts had expected, the Thomson
Reuters same-store sales index showed.

Oct 10, 2013

U.S. retailers’ sales rise in September, but shoppers stay cautious

NEW YORK (Reuters) – U.S. shoppers continued to show caution in their spending in September, gravitating toward bargains, as political strife in Washington and slow job growth hurt their confidence with the start of the holiday season just weeks away.

L Brands Inc (LTD.N: Quote, Profile, Research, Stock Buzz) on Thursday reported sales at stores open at least a year rose 1 percent in September, missing Wall Street estimates of a 2 percent gain. The company had soft business at its Victoria’s Secret chain, where it had to offer deeper promotions than it had expected.

Oct 10, 2013

U.S. retailers’ sales rise in September, but shoppers stay cautious

NEW YORK, Oct 10 (Reuters) – U.S. shoppers continued to show
caution in their spending in September, gravitating toward
bargains, as political strife in Washington and slow job growth
hurt their confidence with the start of the holiday season just
weeks away.

L Brands Inc on Thursday reported sales at stores
open at least a year rose 1 percent in September, missing Wall
Street estimates of a 2 percent gain. The company had soft
business at its Victoria’s Secret chain, where it had to offer
deeper promotions than it had expected.

Oct 8, 2013

Penney says September sales show improving trend

By Phil Wahba and Siddharth Cavale

(Reuters) – J.C. Penney Co Inc (JCP.N: Quote, Profile, Research, Stock Buzz) on Tuesday told investors for the second time in less than two weeks that sales trends are improving, seeking to quell fears about its turnaround that have pummeled the retailer’s shares.

Penney, urgently trying to lure back shoppers this year after a failed attempt to go upmarket in 2012 led to a 25 percent drop in sales, reported a smaller decline in same-store sales for September than for August, sending shares up as much as 6.9 percent in regular trading.

Oct 7, 2013

Fifth & Pacific sells Juicy Couture brand for $195 million

By Phil Wahba

(Reuters) – Fifth & Pacific Cos Inc (FNP.N: Quote, Profile, Research, Stock Buzz) on Monday said it has agreed to sell its once-popular Juicy Couture business to Authentic Brands Group for $195 million to focus on its fast-growing, higher-end Kate Spade brand.

Juicy, known for its velour track suits and urban feel, saw sales plummet in recent years as the brand fell out of favor. Attempts to turn around what was still Fifth & Pacific’s top selling brand last year failed.

Sep 28, 2013

Penney stock plunges on share sale, lower cash forecast

By Phil Wahba and Olivia Oran

(Reuters) – J.C. Penney Co Inc’s decision to shore up its cash reserves by issuing almost $1 billion in new shares sent its stock tumbling more than 13 percent Friday.

Earlier in the day, the struggling U.S. department store chain had cut its forecast of year-end cash reserves, suggesting that it is burning through money faster than expected.

    • About Phil

      "Phil Wahba joined Reuters in 2008 and has covered the exchanges, equity capital markets (IPOs), corporate bankruptcies and now covers retailers such as department stores and booksellers."
      Hometown:
      Montreal
      Joined Reuters:
      2008
      Languages:
      English, French, Spanish, German and Danish.
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