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While food inflation has become a concern for European governments from Britain to Italy recently, France has been among the most aggressive in pushing price cuts. In Hungary, Prime Minister Viktor Orban has imposed mandatory price cuts on some basic food items. But food prices still were up 14% last month after a record spike of almost 16% in March. Food prices surged after food companies and big retailers agreed in March to an average 10% increase in prices, responding to a surge in input prices the previous year and wages after Russia's February 2022 invasion of Ukraine. Meanwhile, the food industry has seen profits surge, largely making up for sharp falls during the pandemic, Le Maire said.

Persons: Bruno Le Maire, Le Maire, BFM, Viktor Orban, Maire, Knorr, Kraft Heinz, Benoit Van Overstraeten, Leigh Thomas, Richa Naidu, Silvia Aloisi, Hugh Lawson, Mark Potter Organizations: Food, Unilever, Finance, Reuters, Ministry of, Nestle, Danone, Pepsico, Thomson Locations: PARIS, France, Britain, Italy, Hungary, Ukraine

June 7 (Reuters) - Campbell Soup (CPB.N) shares dropped as much as 9% on Wednesday, after the company disappointed investors by maintaining its full-year forecasts for sales and profit despite beating quarterly earnings. The move helped Campbell Soup post a 5% rise in quarterly sales, although its margins slipped to 30% from 31.2%. Campbell expects annual net sales to grow between 8.5% and 10%, compared with analysts' estimates for a rise of 9.5%, according to Refinitiv IBES data. It forecast adjusted profit of $2.95 to $3 per share, versus estimates of $3.01. Reporting by Ananya Mariam Rajesh in Bengaluru; Editing by Devika Syamnath and Anil D'SilvaOur Standards: The Thomson Reuters Trust Principles.

Persons: Campbell, Kraft Heinz, Arun Sundaram, Sundaram, Mark Clouse, Ananya Mariam Rajesh, Devika Syamnath, Anil D'Silva Organizations: Kellogg, Investors, Thomson Locations: Russia, Ukraine, Bengaluru

☆ Campbell Soup beats quarterly profit estimates on price hikes
▼ + stars: | 2023-06-07 | by ( ) www.reuters.com time to read: +1 min

June 7 (Reuters) - Campbell Soup (CPB.N) beat Wall Street estimates for third-quarter profit on Wednesday and maintained its annual forecasts, as the maker of Pepperidge Farm cookies benefited from multiple rounds of price increases. Peer J M Smucker (SJM.N) had forecast a smaller-than-expected decline in annual sales on the back of higher prices and steady demand for its products. The company maintained its annual net sales forecast for an 8.5% to 10% rise and adjusted profit expectations of $2.95 to $3.00 per share. Campbell's third-quarter gross profit margin was 30%, compared with 31.2% a year earlier, squeezed by still-high prices of commodities and freight as well as higher marketing expenses. The company's net sales rose 5% to $2.23 billion, in line with expectations.

Persons: Campbell, Kraft Heinz, J, Ananya Mariam Rajesh, Devika Organizations: Kellogg, Thomson Locations: Russia, Ukraine, Bengaluru

☆ Ketchup inflation hits your weekend barbecue
▼ + stars: | 2023-05-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +4 min

New York CNN —Planning on squirting some ketchup on your hot dog at a barbecue this weekend? Though shoppers have been starting to see some relief in the grocery aisle, food inflation has been consistently outpacing overall inflation. Ketchup prices are piling up. Stefani Reynolds/AFP/Getty ImagesIn the year through April, grocery prices jumped 7.1%, according to the most recent data from the Bureau of Labor Statistics’ Consumer Price Index. NIQ’s own data shows that in the week through April 30, ketchup prices were up about 14% year-over-year.

☆ ‘Greedflation’ loosens its grip on food retailers
▼ + stars: | 2023-05-24 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

Big food manufacturers like Kraft Heinz (KHC.O) and Unilever (ULVR.L) are ratcheting down the price rises they have been inflicting onto supermarket chains. If food retailers can convince cash-strapped customers to skimp less and pay more, their profit margins will finally start growing. Last week, the country’s food retailers opened negotiations on prices with manufacturers like Coca-Cola (KO.N) and Unilever as food inflation surged to over 15% in March. Food manufacturers can certainly do more. Meanwhile, food inflation remained high at 19.1% in April versus 19.2% in March.

☆ These are the top 10 holdings of Berkshire Hathaway's $325 billion stock portfolio
▼ + stars: | 2023-05-18 | by ( Matthew Fox | ) www.businessinsider.com time to read: +4 min

These are the top 10 stocks held in Berkshire Hathaway's $325 billion stock portfolio as of March 31. With various portfolio changes in the first quarter of the year, Berkshire Hathaway's top 10 holdings of US stocks has shifted, though Apple still represents a near 50% of the portfolio. In fact, the top 10 positions in Berkshire Hathaway's portfolio make up a massive 90.2% of its entire portfolio. These are the top 10 stocks held in Berkshire Hathaway's $325 billion US stock portfolio as of March 31. American ExpressCredit cards fill a display at American Express headquarters John Moore/Getty ImagesTicker: AXPPosition: $25.0 billionPercent of portfolio: 7.7%2.

☆ Oscar Mayer’s Wienermobile is getting a new name
▼ + stars: | 2023-05-17 | by ( Jordan Valinsky | ) edition.cnn.com time to read: +2 min

New York CNN —Oscar Mayer’s Wienermobile is driving off into the sunset. Oscar Mayer says the new Frankmobile name “pays homage” to the new recipe for its hot dogs rolling out this summer. The brand’s new recipe for hot dogs represents the first change to Oscar Mayer’s franks in six years. Oscar Mayer, owned by Kraft Heinz (KHC), has often used cheeky marketing tactics to attract attention to its packaged products. Kraft wrote down the value of its Kraft and Oscar Mayer brands in 2019 by $15 billion because consumers have shifted their preferences away from processed foods.

[1/3] Packaged food for sale is seen on shelves at a Dollar Tree in Islandia, New York, U.S., May 12, 2023. Razor manufacturer Edgewell Personal Care Co (EPC.N) and Kraft Heinz Co (KHC.O) have overhauled or built new teams dedicated to working with the biggest U.S. dollar stores like Dollar Tree Inc (DLTR.O) and Dollar General Corp (DG.N) in the last year. Makers of food and household staples are pushing deeper into dollar stores because the low-cost retailers are opening thousands of locations each year. Griffin added that dollar stores are also introducing more "premium" private label brands, like Dollar General's Nature's Menu for pets. Kraft-Heinz also created a new team of five people late last year to identify and develop products for dollar stores, a spokesman said.

☆ Kraft Heinz wants you to mix flavors in your ketchup
▼ + stars: | 2023-05-17 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

Now, Kraft Heinz wants to do the same for dipping sauces. Kraft Heinz (KHC) plans to start running pilot programs with the product in restaurants from late 2023 into early next year. The Kraft Heinz CompanyThe base options could change over time, a relief for those already worried about the lack of mayo. Through 2027, Kraft Heinz has a goal of an additional $2 billion in North American retail revenue from innovation. “We’re really excited to put consumers in control of that and what we can learn from it.”Lately, Kraft Heinz is all about letting customers mix and match.

☆ Walmart keeps grocery prices steady amid inflation, antitrust claims
▼ + stars: | 2023-05-05 | by ( Siddharth Cavale | ) www.reuters.com time to read: +6 min

During the period, while U.S. inflation averaged 7.5% Walmart kept prices steady, the Dataweave analysis shows. Reuters Graphics Reuters GraphicsThis was during a time when world food prices hit record highs and U.S. food-at-home prices rose in the double digits. Food-at-home prices, or prices of food bought at grocery stores and supermarkets, are expected to rise a further 6.6% this year, according to the U.S. Department of Agriculture. The data set, which included batteries in the basket of goods, showed that Walmart sold Energizer batteries at a significant discount to rivals. Similarly, at least two different types of Energizer coin batteries sold at Walmart were found to be between 30% and 35% cheaper than the next lowest priced rival.

☆ Kraft wants to remake the TV dinner
▼ + stars: | 2023-05-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

On Wednesday, Kraft Heinz officially introduced Homebake 425°/:30, the company’s new line of frozen meals. Kraft HeinzFor Kraft, the new brand is part of an effort to increase the company’s net sales by $2 billion through 2027. As part of its earlier turnaround efforts, Kraft Heinz has been trying to reinvigorate decades-old brands like Velveeta and Oscar Mayer. In that time, frozen food prices jumped 16.3%, well above recent annual trends for grocery prices as a whole. In 2020, Kraft Heinz announced that it was divesting its natural cheese business.

"Because of higher prices, people are buying smaller amounts of groceries overall and may have become more careful not to waste food." "Despite all of that, (there are) 8% to 12% missing items on shelves," he said. "This has created a major, major issue around out-of-stock" in most of the 16 Middle Eastern countries where the company operates, he said. Laurent Thoumine, Accenture's Europe lead for retail, said supermarkets in Britain, France, Germany, Italy and Spain have had the worst stock issues. Products that are scarce in some stores include ketchup, pasta, chocolate, tea, potato chips, toothpaste and pet food, according to Nielsen IQ's Data Impact.

☆ Key Fed meeting and jobs data are ahead
▼ + stars: | 2023-04-30 | by ( Krystal Hur | ) edition.cnn.com time to read: +5 min

In the spotlight are the Federal Reserve’s May meeting and the April jobs report. Federal Reserve Chairman Jerome Powell will likely face questions about credit conditions, in addition to the central bank’s inflation strategy. What’s at stake with the April jobs report: Economists expect the Bureau of Labor Statistics’ April jobs print to show slower employment growth last month and a rising unemployment rate. Wednesday: Federal Reserve interest rate decision, Chairman Jerome Powell’s press conference and April ADP private payroll report. Friday: April jobs report and March consumer credit.

☆ A solid start to earnings season will be put to the test in the week ahead
▼ + stars: | 2023-04-29 | by ( Zev Fima | ) www.cnbc.com time to read: +14 min

The biggest week of this earnings season showed us that things aren't as bad as many feared. The week ahead of earnings, including several more Club names, should tell us more. The results are always important, but it's the guidance and management commentary we will really hone in on to better understand the path ahead. In Amazon's case, a solid first quarter for its AWS cloud business was overshadowed by management seeing a material slowdown in April. ET: Nonfarm Payrolls Looking back It was the biggest week of this earnings season for the Club as several of our mega-cap holdings and industry bellwethers reported results.

☆ Behold the stuffed crust bagel
▼ + stars: | 2023-04-13 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +3 min

Now, Philadelphia cream cheese and H&H Bagels, a New York City-based bagel shop, are trying to please the carbohydrate- and dairy-loving communities with a new and dubious spin on the stuffed crust: The bagel stuffed with cream cheese. But unlike stuffed-crust pizzas, the bagel is filled with cheese after it is baked, making it more of a cream cheese bagel donut, if not in spirit then at least in form. What’s so wrong with slicing a bagel and slathering on a healthy amount of cream cheese? New York doesn’t have a specific bagel tax, explained Ryan Cleveland, a representative of the New York State Department of Taxation and Finance. Philadelphia cream cheese, which struggled with shortages in the past, turned that issue into a marketing opportunity as well.

☆ Kraft Heinz agrees to sell Russian baby food business
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

MOSCOW, March 31 (Reuters) - Kraft Heinz (KHC.O) has agreed to sell its baby food business in Russia to local drinks and snacks maker Chernogolovka, the U.S. food giant said on Friday, as domestic firms continue to capitalise on the departure of Western brands. According to Chernogolovka, the deal will include two factories and the "Umnitsa" and "Sami s usami" brands. "We anticipate closing the deal in the second half of 2023 (Q3) and will continue working with Chernogolovka post-completion, to ensure a smooth integration," a Kraft Heinz spokesperson told Reuters. Neither Kraft Heinz nor Chernogolovka disclosed the price or mentioned any buyback clause. Russia's Kommersant newspaper reported on Thursday, citing sources, that Kraft Heinz estimates the deal's value at between 2.5 and 3 billion roubles ($32.4 to $38.9 million) but the government is yet to approve the valuation.

☆ Another cultish cost-saving formula gets off-track
▼ + stars: | 2023-03-29 | by ( Jeffrey Goldfarb | ) www.reuters.com time to read: +9 min

Despite its multiple interpretations and approaches, success is widely gauged by a railway’s operating ratio, a simple measure of how much it spends to make a buck. Union Pacific’s peers improved similarly, indicative of the antiquated ways the industry had been deploying resources. Union Pacific also found itself unable to bring back enough furloughed workers in areas where they were most needed. “In a significant departure from the railroad industry's recent past, we deliberately moved away from a singular focus on operating ratio,” he told lawmakers. “If we wanted to drive [operating ratio] lower over time, we could,” the board wrote in a letter to shareholders in late 2021.

☆ Lunchables are going to be rolled out directly to students. Here’s what’s in them
▼ + stars: | 2023-03-13 | by ( Parija Kavilanz | ) edition.cnn.com time to read: +7 min

New CNN —Kraft Heinz has succeeded in getting its ready-to-eat packaged Lunchables into school lunch programs starting this fall, in a major new initiative. The USDA referred CNNBusiness to Kraft Heinz for further details about the cost and nutritional content of its Lunchables for schools. Kraft Heinz declined to provide additional details about the cost and other nutritional content, including sodium and saturated fat content. School food nutrition guidelines getting stricterKraft-Heinz says that Lunchables will minimize school "labor needs and costs" in its promotional materials. “As school nutrition guidelines get increasingly complex, we’ve seen companies leaving the K-12 segment, said Pratt-Heavner.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Eliminating less popular products is part of a "decomplexity program" underway at Kraft Heinz, its executives said at the Consumer Analyst Group of New York Conference this week. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

[1/3] Ben & Jerry's, a brand of Unilever, is seen on display in a store in Manhattan, New York City, U.S., March 24, 2022. Nestle said cutting products saved 1 billion Swiss francs last year ($1.06 billion), while Unilever said the practice saved $2 billion. Food makers tend to cull products without much fanfare. At the consumer products conference they highlighted new offerings, many of them increasingly popular handheld foods that people can eat while scrolling on phones. "You'd be shocked by the loyalty and personal connections people have to food products," he said.

☆ Walmart cautious on economy, forecasts annual earnings below estimates
▼ + stars: | 2023-02-21 | by ( ) www.reuters.com time to read: +3 min

Feb 21 (Reuters) - Walmart Inc (WMT.N) forecast full-year earnings below estimates on Tuesday, saying it was cautious about the economic outlook for 2023 and that consumers were likely to continue shopping for lower-priced items that could pressure its margins. "There's still a lot of trepidation and uncertainty with the economic outlook. "So, that makes us cautious on the economic outlook because we simply don't know what we don't know." Walmart forecast fiscal 2024 earnings of $5.90 to $6.05 per share, compared with analysts' estimates of $6.50 per share, according to Refinitiv IBES data. Still, Walmart reported strong demand in the quarter ended Jan. 31, posting total revenue of $164.05 billion, a 7.3% increase from last year.

☆ Analysis: To raise prices or not? Consumer goods makers weigh bets on buyer strength
▼ + stars: | 2023-02-20 | by ( Jessica Dinapoli | Thomson Reuters | New York-Based Reporter Covering U.S. Consumer Products Spanning Paper Towels To Packaged Food | ) www.reuters.com time to read: +6 min

But, there are small signs the pressure is easing, with U.S. consumer prices a month earlier declining for the first time in two-and-a-half years, due in part to gas prices. Price hikes - or halts - are set to take center stage at the Consumer Analyst Group of New York annual conference on Feb. 20 in Boca Raton, Florida. DIFFERENT PREDICTIONSAfter more than a year of consistent price hikes, some consumer goods makers such as Kraft Mac & Cheese manufacturer Kraft Heinz Co (KHC.O) are pressing pause as they weigh consumer demand for their items. Frozen pizza prices have risen about 14% in the last year, according to IRI data. "Retailers cannot truly push back on prices … if the company has an important brand," Bernstein analyst Bruno Monteyne said.

☆ Warren Buffett is missing out on this year’s market comeback
▼ + stars: | 2023-02-19 | by ( Paul R. La Monica | ) edition.cnn.com time to read: +8 min

But the Oracle of Omaha has missed out on this year’s stock market rally. Buffett, in fact, has promoted that idea to investors many times, arguing that most individual stock pickers will not be able to beat the market. And to his credit, that usually pays dividends: Berkshire stock was up 3% last year in a down market. “High rates of inflation create a tax on capital that makes much corporate investment unwise,” Buffett said in his 1980 shareholder letter to Berkshire investors. Investors will get several more clues about consumer spending this week when several top retailers report earnings.

☆ Goldman Sachs says these stocks are too attractive to ignore in an uncertain economy
▼ + stars: | 2023-02-18 | by ( Michael Bloom | ) www.cnbc.com time to read: +6 min

Goldman Sachs unveiled a slew of stocks this week that could have major upside throughout 2023. Howmet Aerospace Goldman Sachs is standing by its buy rating on the aerospace products company. "Howmet remains well positioned in the commercial aerospace growth market, delivering critical components, taking market share, generating strong margins and cash ﬂow," he said. Howmet remains well positioned in the commercial aerospace growth market, delivering critical components, taking market share, generating strong margins and cash ﬂow. The quarter was one of progress on multiple fronts, including margins, market share, and cash flow.

☆ Nestlé says food prices will rise further this year
▼ + stars: | 2023-02-16 | by ( Hanna Ziady | ) edition.cnn.com time to read: +5 min

Food, including ice cream, will see significant price increases in 2023, CEO Alan Jope said on the same call. Unilever said price increases caused sales volumes to decline by 2.1% in 2022. Heineken, meanwhile, said it expected to sell less beer in Europe this year because of “steep” price increases related to energy costs. At the time, Tesco (TSCDF) described the company’s price increases as “unjustifiable.” Once the products were restored, prices were unchanged on Heinz’s most popular lines. Gabby Jones/Bloomberg/Getty ImagesTesco has also “fallen out with other suppliers” over price increases, its chairman John Allen recently told the BBC.

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