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Search resuls for: "Kellogg's"


19 mentions found


☆ UK supermarket Asda freezes prices of 500 products
  + stars: | 2023-06-13 | by ( James Davey | ) www.reuters.com   time to read: +2 min
Prime Minister Rishi Sunak has set a 2023 target to halve overall inflation but the goal has been undermined as inflation has remained stubbornly high, particularly food inflation. Overall UK consumer price inflation ran at 8.7% in April, the most recent official data showed, while food and drink inflation was 19.1%, just below a 46-year high. Food retailers have said they expect prices to rise in 2023 overall but with the rate of inflation declining through the year. Last week the French government secured a pledge from 75 top food companies to cut prices on hundreds of products. Last month, British finance minister Jeremy Hunt met food manufacturers to raise concerns about the surge in food prices, but no formal price controls were proposed.
Persons: cornflakes, Rishi Sunak, Clive Black, Jeremy Hunt, Kantar, James Davey, Sarah Young, Mark Potter Organizations: Grocers, Asda, Tesco, Foods, Waitrose, Shore Capital, Thomson
☆ 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.
☆ Kellogg lifts annual forecasts on price hikes, resilient demand
  + stars: | 2023-05-04 | by ( ) www.reuters.com   time to read: +2 min
May 4 (Reuters) - Kellogg Co (K.N) on Thursday forecast a smaller drop in annual profit and raised the lower end of its sales outlook on the back of consistent price hikes and resilient demand for its cereals and snacks. Shares of the Michigan-based company rose marginally in premarket trading after the Corn Flakes maker beat market expectations for first-quarter revenue and profit. The Pringles maker's strong outlook reflects comments from peers PepsiCo Inc (PEP.O) and Hershey Co (HSY.N), who also lifted their annual forecasts in recent months boosted by price increases. However, organic volumes declined by 1.9% in the first quarter, while overall prices rose 15.6%. Net sales in the first quarter rose 10.4% to $4.05 billion, beating analysts' estimate of $3.95 billion, according to Refinitiv IBES data.
☆ Britain's Sainsbury's offers lower prices to loyalty card holders
  + stars: | 2023-04-11 | by ( James Davey | ) www.reuters.com   time to read: +2 min
[1/2] Illuminated signage is seen at a branch of the Sainsbury's supermarket in London, Britain, January 7, 2022. Sainsbury's' "Nectar Prices" scheme offers discounts on items including household products, pet food and confectionary when members scan their Nectar app or swipe their card at the supermarket checkout, or if shopping online link their Nectar and Sainsbury's accounts. "We will keep refreshing Nectar Prices and increasing the variety of products on offer," said Sainsbury's CEO Simon Roberts. Nectar members will continue to earn points for purchases which can be spent either at Sainsbury's or with partners. The new initiative builds on a scheme launched in 2021 that saw Sainsbury's offer lower prices to Nectar members using its "SmartShop" self-scanner service.
☆ Kellogg's snacking unit, which includes Cheez-It and Pringles, gets a new name: Kellanova
  + stars: | 2023-03-15 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +1 min
Kellogg brand Cheez-it crackers arranged at a supermarket in Dobbs Ferry, New York, US, on Wednesday, June 22, 2022. Kellogg Co. said it will split into three independent companies, sparking a rally in the food conglomerates shares. Kellogg on Wednesday revealed it will name its snacking unit Kellanova as part of its plan to separate into two independent public companies. Kellanova, which will include brands like Pringles and Cheez-Its, will retain the "K" stock ticker currently used by the food giant. The North American cereal unit will be renamed WK Kellogg Co.
☆ Kellogg is giving its Pringles and Cheez-It business a new name with classical Latin twist. It's the latest company name to incorporate the 'dead' language.
  + stars: | 2023-03-15 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +4 min
Kellogg is renaming its snack business "Kellanova" — a combo of Kellogg and a Latin word for "new." Kellogg is naming its snacking division "Kellanova," the latest step in breaking up the company, it said on Wednesday. The name draws inspiration from the Kellogg name and a common Latin word, Kellogg CEO Steve Cahillane said in a statement. Etsy and Mondelez are among other companies with Latin namesKellanova is hardly the first company rebrand to draw inspiration from Latin. Before that, cigarette maker Philip Morris said it would change its name to "Altria" in an allusion to the Latin word for "high," the Journal reported in 2001.
☆ A 24-year-old stock trader who made over $8 million in 2 years shares the 4 indicators he uses as his guides to buy and sell
  + stars: | 2023-03-12 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +7 min
Jack Kellogg began trading stocks right out of high school in 2017. I'm just using basic trend lines, support, resistance, volume, and those are all my indicators," Kellogg said. By the time the stock market began to rally hard in 2020, he was ready to ride the upwards wave. He uses it on the daily chart as a guide to determine a good buy-in price for the stock he's trading. This gives him a better sense that the stock's price action will trend according to his thesis.
☆ FDA says sugary cereal and white bread no longer 'healthy'
  + stars: | 2023-02-23 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
Those changes mean that food companies could no longer market white bread as well as sugary cereals and yogurt as "healthy," according to the FDA. Sources of omega-3 fatty acids such as fish, for example, would get the "healthy" designation because of potential health benefits from that type of fat. The revised definition of "healthy" isn't a requirement for food companies, according to the FDA. Even so, many food companies closely follow nonbinding FDA guidelines. Another set of proposed FDA guidelines for plant-based milks, for example, drew ire from the dairy industry this week.
☆ Kellogg beats sales and profit estimates, to keep plant-based business
  + stars: | 2023-02-09 | by ( ) www.reuters.com   time to read: +2 min
The Pringles maker, which is in the process of a three-way break-up of its business, also said it has decided to keep its plant-based business, which represents 2% of net sales, in-house. Kellogg had last June announced plans to explore strategic options for its profitable MorningStar Farms business. The company forecast organic sales growth of 5% to 7% for full year 2023, as it expects sustained demand for its snacks and emerging markets business region. Shares of the Michigan-based company rose 1.5% before the bell. Kellogg's net sales rose 12% to $3.83 billion in the fourth quarter ended Dec. 31.
☆ North American Leaders' Summit wraps in Mexico City; Immigration and supply chain were in focus
  + stars: | 2023-01-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailNorth American Leaders' Summit wraps in Mexico City; Immigration and supply chain were in focusCarlos Gutierrez, former CEO of Kellogg's and EmPath co-founder, joins CNBC's 'Squawk Box' to give his takeaways from the North American Leaders' Summit held in Mexico City this week. President Biden discussed economic cooperation, drug trafficking, migration and climate change with Mexico's López Obrador and Canada's Trudeau during the summit.
☆ Candy maker Ferrero to buy Halo Top owner, expanding North American business
  + stars: | 2022-12-07 | by ( Amelia Lucas | ) www.cnbc.com   time to read: +1 min
Candy maker Ferrero is buying Wells Enterprises, the ice cream giant that owns Blue Bunny, Blue Ribbon Classics and Halo Top. Comfort food staples like ice cream and candy saw their sales soar during the pandemic as consumers looked for ways to treat themselves. For its part, Ferrero reported global consolidated revenue of 12.7 billion euros ($13.3 billion) in its fiscal year ended Aug. 31, 2021. Wells Enterprises was founded in 1913 and has grown to be the second-largest ice cream company in the U.S., trailing only Ben & Jerry's owner Unilever . Wells makes more than 200 million gallons of ice cream annually and has more than 4,000 employees.
☆ 'Pancake cereal' went viral on TikTok two years ago. Now IHOP and General Mills are turning it into a thing.
  + stars: | 2022-12-05 | by ( Alex Bitter | ) www.businessinsider.com   time to read: +3 min
IHOP and General Mills are making pancake cereal, an homage to the 2020 TikTok trend. Restaurant chain IHOP and General Mills, which makes Cheerios and Lucky Charms, is releasing a blueberry-and-syrup-flavored mini pancake cereal. Pancake cereal took off in early 2020 when TikTok users posted videos of themselves making tiny pancakes – sometimes smaller than a dime. A post shared by Kitchen League (@kitchenleague)"After the viral moment in 2020, we knew guests had an appetite for an IHOP cereal," IHOP Chief Marketing Officer Kieran Donahue said in the statement. The campaign is the company's take on the "dirty soda" trend on TikTok, which involves mixing soda with cream and syrup.
☆ From cereal to food giant — Kellogg stages a makeover
  + stars: | 2022-11-28 | by ( Dymond Green | ) www.cnbc.com   time to read: +1 min
Kellogg, the 117-year-old brand that started as a breakfast cereal company has since expanded to be one of the largest food companies in the world, has seen declining cereal sales over the past couple of decades. And in 2021, the food giant sustained a damaging fire at its Memphis facility, and later that same year 1,400 workers went on strike to demand better pay and enhanced benefits. In an effort to stimulate growth, on June 21, 2022, the company announced plans to split into three separate companies. And we see the next step in our potential in unlocking three new companies," said Kellogg CEO Steve Cahillane. Watch the video to learn more about Kellogg's move to split the company in order to try to kickstart cereal sales and regain some of its bygone glory.
☆ A 24-year-old stock trader who gained $280,000 in August and over $8 million in 2 years shares 6 key adjustments he made to continue being profitable in 2022's bear-market rallies
  + stars: | 2022-11-27 | by ( Laila Maidan | ) www.businessinsider.com   time to read: +8 min
He had heard about trading stocks from a friend and began to take up an interest in it. Kellogg began to notice the stock market trending negatively in November and December. On September 7, Kellogg attempted to buy the dip on Globalstar, Inc. (GSAT) after the stock's price spiked to $3 intraday. Eventually, it was followed by a four-day bounce back before the stock market continued trending lower. He normally reviews headlines to see why a stock's price may be moving upwards.
☆ Elon Musk personally called CEOs of companies that stopped advertising on Twitter to complain, report says
  + stars: | 2022-11-27 | by ( Jyoti Mann | ) www.businessinsider.com   time to read: +2 min
Elon Musk called CEOs of companies that pulled ad spending to complain, Financial Times reported. Musk's calls backfired and other brands joined the growing list of companies to withdraw spending. A number of leading media buyers and advertising agencies say that almost all the major brands they act for have stopped ad spending on Twitter, the report said. Half of Twitter's top 100 advertisers have stopped advertising on the platform in recent weeks as a result of "controversies" and "warnings from media buyers." Twitter's ad systems have become bug-ridden, according to some media buyers, making it nearly impossible to launch campaigns.
☆ 50 of Twitter's top 100 advertisers have pulled out of the platform since Elon Musk took over, report says
  + stars: | 2022-11-23 | by ( Pete Syme | ) www.businessinsider.com   time to read: +3 min
Half of Twitter's top 100 advertisers have stopped promoting on the platform, per Media Matters. Since 2020, those 50 companies have spent $2 billion on Twitter advertising. Coca-Cola, Kellogg's, and Meta are among those who have pulled their advertising budgets away from Twitter, according to Media Matters. The list of all 50 is available in Media Matters' report. Insider has reached out to all 50 companies for comment.
☆ Matching Skills to Talent
  + stars: | 2022-11-11 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailMatching Skills to TalentAs the former U.S. Secretary of Commerce and Chairman and CEO of Kellogg's, Carlos Gutierrez has played an integral role in helping shape American business over the course of his 43-year career. In his latest venture, Secretary Gutierrez is bringing that experience to bear as the Chairman and CEO of Empath, a company that uses AI and machine learning to help companies match employee skills to current and future roles. 12:38 2 hours ago
☆ Kellogg's just released a boozy, Eggo Waffles-inspired eggnog liqueur—and I tried it
  + stars: | 2022-11-05 | by ( Nicolas Vega | ) www.cnbc.com   time to read: +2 min
I love Eggo waffles just as much as the next guy, if not more. That said, I've never once had an Eggo waffle and thought to myself you know what would make this better? The liqueur, Kellogg's reasons, will "give grownups a unique way to L'Eggo of the holiday stress this season." Eggo fandom aside, the "L'Eggo" pun alone was enough to get me to want to try the Eggo Nog. Sugarlands boasts that "every sip [is] reminiscent of a perfectly toasted Eggo waffle," but the truth is that the Eggo flavor is nowhere to be found.
☆ Kellogg CEO reacts to earnings beat and supply chain challenges
  + stars: | 2022-11-03 | by ( ) www.cnbc.com   time to read: 1 min
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKellogg CEO reacts to earnings beat and supply chain challengesSteve Cahillane, Kellogg chairman and CEO, joins 'Squawk on the Street' to discuss if Kellogg's pricing can continue to offset inflation, what Cahillane is watching for to know there's a turn in productivity and when end pricing gets more competitive.
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