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☆ Capgemini to invest 2 bln euros in AI after higher half-year sales
▼ + stars: | 2023-07-28 | by ( ) www.reuters.com time to read: +1 min

July 28 (Reuters) - French IT consulting group Capgemini (CAPP.PA) on Friday posted higher half-year revenue, driven by its cloud, data and artificial intelligence (AI) activities, and said it would invest 2 billion euros ($2.19 billion) in AI over three years. The Paris-based company tries to help businesses to adopt AI technology through partnerships with Microsoft and Google Cloud. "We continue to gain market share as we accompany our clients in their transition towards a digital and sustainable economy ... I am convinced that generative AI will play a major role in this transition," CEO Aiman Ezzat said in a statement. Capgemini, which offers consulting, digital, technical and engineering services, reported revenue of 11.43 billion euros in the first half of 2023, compared to 10.69 billion a year earlier.

Persons: Aiman Ezzat, ChatGPT chatbot, Lina Golovnya, Stéphanie, Milla Nissi Organizations: French IT, Microsoft, Google, Thomson Locations: French, Paris, Gdansk

☆ Forvia's shares fall after 'unimpressive' outlook hike
▼ + stars: | 2023-07-27 | by ( Michal Aleksandrowicz | ) www.reuters.com time to read: +2 min

July 27 (Reuters) - Forvia's (FRVIA.PA) shares fell as much as 8% in early trading on Thursday, after a slight hike to the car parts maker's annual targets failed to impress investors. The world's seventh-largest automotive supplier raised its estimate for global auto production to around 86 million light vehicles this year, from 82 million previously. It forecast 2023 sales of 26.5-27.5 billion euros ($29.4-30.5 billion), up from an earlier range of 25.2-26.2 billion. Global automotive production grew more than 10% in the first half of the year, on sustained demand and gradual improvement in semiconductors supply, CEO Patrick Koller said in a statement. Forvia's half-year operating profit jumped nearly 70% to 675 million euros, but was 2% below analysts' consensus estimates, according to a research note by J.P.Morgan.

Persons: Patrick Koller, Olivier Durand, J.P.Morgan, Michal Aleksandrowicz, Milla Nissi, Bernadette Baum Organizations: Global, Thomson Locations: Gdansk

July 26 (Reuters) - German sportswear retailer Puma (PUMG.DE) on Wednesday said second-quarter sales grew by 11%, slightly ahead of market expectations thanks to stronger revenues from Asia and Europe. "The macroeconomic environment and volatile retail demand remain challenging, particularly in North America and Europe, as recession risks weigh on consumer sentiment." Puma' sales came in at 2.12 billion euros ($2.34 billion) in the quarter, up from 2 billion a year earlier and above the 2.05 billion expected by analysts polled by Refinitiv Eikon. The company confirmed its full-year outlook for currency adjusted revenue growth in a high single-digit percentage rate, and an operating profit of between 590 million and 670 million euros. Operating earnings of 115 million euros for the quarter were down 21% from a year earlier but still above the 110 million expected by analysts.

Persons: Puma, Rihanna, Refinitiv Eikon, Linda Pasquini, Helen Reid, Milla Nissi, Jane Merriman Organizations: Puma, Super Team, Thomson Locations: Asia, Europe, North America, China, Frankfurt, Gdansk, London

☆ Randstad flags tougher job market, earnings beat forecasts
▼ + stars: | 2023-07-25 | by ( Olivier Sorgho | ) www.reuters.com time to read: +2 min

July 25 (Reuters) - Randstad (RAND.AS), the world's biggest staffing firm, on Tuesday flagged weaker demand in a "challenging" jobs market, even as it beat expectations for second-quarter core earnings. "We've had an enormous surge in demand post-COVID ... from there we have sort of gradually seen demand pull back," he added. The company's shares recouped early losses to rise 3.5% by 1013 GMT, as its quarterly core profit beat market forecasts. Underlying earnings before interest, tax and amortisation (EBITA) fell 12% to 271 million euros ($299.8 million), but exceeded the 260 million seen in a company-provided poll. An employer survey from the World Economic Forum earlier this year found that employment could decrease 2% by 2027.

Persons: Sander van't Noordende, We've, Marc Zwartsenburg, Randstad, van't Noordende, Olivier Sorgho, Jacqueline Wong, Milla Nissi, Emma Rumney Organizations: ING, Economic, Thomson Locations: U.S, Britain, China, North America, Europe, Northern Europe, Asia, Pacific, America, Gdansk

☆ Factbox: Europe sees another year of droughts and wildfires
▼ + stars: | 2023-07-18 | by ( ) www.reuters.com time to read: +5 min

Last year, heat waves resulted in over 61,600 heat-related fatalities across 35 European countries and triggered devastating wildfires. Below is a list of the most recent blazes and heat-related warnings issued in Europe. **********CROATIAA bushfire near the coastal town of Sibenik quickly spread on July 13, fuelled by strong southerly winds. Emergency services were also dealing with fires on the island of Evia, east of Athens, and Aigio, southwest of Athens. RUSSIAIn central Russia's Urals region, in the small village of Shaidurikha near Yekaterinburg, wildfires spread on July 12 and caused significant damage.

Persons: BRGM, Rhodes, El, Dina Kartit, Gaëlle Sheehan, Piotr Lipiński, Alexandra Hudson, Milla Nissi Organizations: Firefighters, Flames, El Pais, Caldera, SWITZERLAND Swiss, Swiss, TURKEY, Directorate of Forestry, Thomson Locations: Europe, Sicily, CROATIA, Sibenik, Grebastica, FRANCE, Nouvelle, Aquitaine, Occitanie, Grand Est, Bouches, Du, Rhone, Corsica, France, GREECE, Corfu, Evia, Athens, Cyprus, Israel, Italy, ITALY, Calabria, Italian, Rome, Lazio, PORTUGAL Mainland Portugal, May, RUSSIA, Russia's, Shaidurikha, Yekaterinburg, SPAIN, La Palma, Spanish, Spain, Bitsch, Valais, Turkey's, Hatay, Mersin, Canakkale, Turkish

☆ Migration pushes EU population back to growth in 2022
▼ + stars: | 2023-07-11 | by ( Olivier Sorgho | ) www.reuters.com time to read: +1 min

REUTERS/Michele TantussiJuly 11 (Reuters) - The European Union's population rose for the first time in three years in 2022, boosted by migration into the bloc even as more people died than were born, the EU's statistics office Eurostat said on Tuesday. The political alliance's population rose from 446.7 million on Jan. 1, 2022 to 448.4 million people a year later. "The observed population growth can be largely attributed to the increased migratory movements post-COVID-19 and to the mass influx of displaced persons from Ukraine who received temporary protection status in EU countries," Eurostat said. Eurostat said only seven countries recorded a drop in their populations in 2022, including Italy whose population fell by nearly 180,000 people. The twenty remaining countries within the bloc saw their populations rise.

Persons: Michele Tantussi, Olivier Sorgho, Milla Nissi, Christina Fincher Organizations: REUTERS, Eurostat, Thomson Locations: Ukraine, Tegel, Berlin, Germany, Italy, Gdansk

☆ Factbox: Europe's ongoing strike-related travel disruptions
▼ + stars: | 2023-07-10 | by ( ) www.reuters.com time to read: +4 min

The travel industry is on high alert for disruption after Europe's peak season last year was hit by cancellations, causing chaos at airports. This summer, air traffic control issues are likely to be the weak spot, according to warnings from Eurocontrol, which manages European airspace. Heathrow Airport security workers on June 23 called off 31 days of strikes planned at Britain's busiest hub. At Birmingham Airport, around 100 security officers and terminal technicians will begin continuous strike action from July 18. The strikes will severely impact the airport's security and terminal maintenance, leading to flight delays, the Unite union said.

Persons: Hannah McKay, Tiago Brandao, Pierre John Felcenloben, Antonis Triantafyllou, Milla Nissi Organizations: British Airways, Heathrow Airport, REUTERS, BELGIUM Ryanair, BRITAIN, Heathrow, Birmingham Airport, Glasgow, FRANCE Air, ATC, Nantes, Ryanair, Reuters, SPAIN Pilots, Iberia Regional Air Nostrum, Air Nostrum, Air Europa, Swedish Transport Workers, Union, Geneva, Thomson Locations: London, Britain, BELGIUM, Belgium, Charleroi, Europe, Gatwick, France, Paris, Orly, Lyon, Marseille, Nice, Toulouse, Bordeaux, ITALY, PORTUGAL, Portugal, Iberia, Spain, SWEDEN

☆ Sodexo raises outlook for voucher business a second time
▼ + stars: | 2023-06-30 | by ( ) www.reuters.com time to read: +2 min

June 30 (Reuters) - French catering and food services group Sodexo (EXHO.PA) on Friday raised the full-year outlook of its voucher business for the second time this year as it benefits from companies' attempts to get employees back to the office. Employers have also turned to companies like Sodexo to offer vouchers to staff to help them cope with the rising cost of living. Sodexo last raised its forecast for the voucher business in April, targeting organic growth close to 20% and an operating margin near 32%. Sodexo also tweaked the group's full-year outlook, seeing an underlying operating margin of 5.5%, versus "close to" 5.5% previously. Total group revenue was 6.03 billion euros ($6.55 billion) in the third quarter, slightly ahead of the 6.02 billion euros expected by analysts polled by the company.

Persons: Sophie Bellon, Bellon, Sodexo, Diana Mandiá, Milla Nissi, Jane Merriman Organizations: Employers, Thomson Locations: Gdansk

☆ Global markets in H1: Banks vs the machines
▼ + stars: | 2023-06-30 | by ( Marc Jones | ) www.reuters.com time to read: +6 min

Linking it all has been the relentless rise in interest rates, which was exactly what battered markets in 2022. But just that this time has been different due to an unshakeable view that the end of the cycle is near. A 12%, or $6 trillion, rally in value of world stocks (.MIWD00000PUS), (.FTAWORLDSR) although it has been ominously top heavy. Thanks largely to ChatGPT, the AI boom has seen the 'Big Tech' giants enjoy a combined surge of 70%. There have also been around a total of 90 interest rate hikes this year by central banks globally versus just 17 cuts.

Persons: Andrew Kelly, Lehman, Trevor Greetham, Gold, Viktor Szabo, Tayyip Erdogan's, haven't, bitcoin, Binance, Milla Savova, Dhara Ranasinghe, Tom Wilson, Rashmi Organizations: New York Stock Exchange, REUTERS, Nikkei, LONDON, Big Tech, Apple, Microsoft, Google, Netflix, Meta, Nvidia, Royal London Asset Management, Japan's Nikkei, U.S . Federal Reserve, European Central Bank, Bank of Japan's, Silicon Valley Bank, behemoth, UBS, Treasury, Wall, BlackRock, Commodities, Thomson Locations: New York City, U.S, El Salvador, Sri, Zambia, Ukraine, Pakistan, Argentina, Japan, Egypt, Nigeria, London

☆ Hugo Boss lifts 2025 targets as demand stays strong
▼ + stars: | 2023-06-15 | by ( Linda Pasquini | ) www.reuters.com time to read: +2 min

June 15 (Reuters) - German fashion house Hugo Boss (BOSSn.DE) on Thursday raised its 2025 sales target, betting on strong demand across its markets. The company forecast annual sales of 5 billion euros ($5.4 billion) by 2025, compared to the previous target of 4 billion euros, which it expects to meet this year. Hugo Boss, which has undergone a brand revamp under the leadership of former Tommy Hilfiger head Daniel Grieder, is investing in marketing to boost sales and expand market share. It is also targeting an operating profit (EBIT) of 600 million euros by 2025, up from a previous goal of around 480 million, and an EBIT margin of at least 12% versus a previous forecast of around 12%. Hugo Boss shares were up 1.7% in early Frankfurt trade, topping the German mid-cap index (.MDAXI).

Persons: Hugo Boss, Tommy Hilfiger, Daniel Grieder, Linda Pasquini, Milla Nissi, Jason Neely Organizations: Thomson Locations: U.S, United States, China, Europe, Asia, Pacific, Frankfurt, Gdansk

☆ Factbox: Governments race to regulate AI tools
▼ + stars: | 2023-06-13 | by ( ) www.reuters.com time to read: +6 min

CHINA* Planning regulationsThe Chinese government will seek to initiate AI regulations in its country, billionaire Elon Musk said on June 5 after meeting with officials during his recent trip to China. ITALY* Investigating possible breachesItaly's data protection authority plans to review other artificial intelligence platforms and hire AI experts, a top official said in May. ChatGPT became available again to users in Italy in April after being temporarily banned over concerns by the national data protection authority in March. SPAIN* Investigating possible breachesSpain's data protection agency said in April it was launching a preliminary investigation into potential data breaches by ChatGPT. The Biden administration earlier in April said it was seeking public comments on potential accountability measures for AI systems.

Persons: Alan Turing, Elon Musk, Margrethe Vestager, Vestager, CNIL, Dado Ruvic, Ziv Katzir, Israel, ChatGPT, OpenAI, Antonio Guterres, Guterres, Michael Bennet, Biden, Alessandro Parodi, Amir Orusov, Jason Neely, Kirsten Donovan, Milla Nissi Organizations: Microsoft, Authority, Reuters, EU, Key, European Consumer Organisation, Seven, REUTERS, Israel Innovation Authority, UNITED, International Atomic Energy Agency, United Nations, U.S . Federal Trade Commission's, Thomson Locations: AUSTRALIA, BRITAIN, Britain, CHINA, China, Beijing, U.S, FRANCE, Italy, Hiroshima, Japan, IRELAND, ISRAEL, Israel, ITALY, JAPAN, SPAIN, Gdansk

☆ Factbox: Companies invest in EV battery factories in Europe
▼ + stars: | 2023-05-31 | by ( ) www.reuters.com time to read: +6 min

Below are recent investments announced by companies:GERMANYSweden's Northvolt said on May 13 it will invest 3-5 billion euros ($3.3-5.5 billion) in an EV battery plant in Heide in the northern state of Schleswig-Holstein as long as subsidies are approved. Volkswagen (VOWG_p.DE) plans to build six battery factories in Europe totalling 240 gigawatt (GWh) of capacity by 2030. Production at its first battery plant, "SalzGiga", in Salzgitter in the Lower Saxony region will start in 2025. Slovakian battery manufacturer InoBat said last October it had signed a declaration of intent with the Spanish government to set up an EV battery factory in central Spain's city Valladolid, expected to cost 3 billion euros. POLANDLG Chem EV battery in Wroclaw started production in the second half of 2017, with a capacity of 100,000 batteries per year.

Persons: Helena Soderpalm, GERMANY Sweden's Northvolt, China's CATL, Germany's, Mercedes Benz, Elon Musk, Berclau, Taiwan's ProLogium, Jean, Luc Monfort, Mata, BASQUEVOLT, InoBat, China's BYD, AEHRA, Poland's, Alessandro Parodi, Tiago Brandao, Matteo Allievi, Barbara Lewis, Milla Nissi Organizations: REUTERS, Volkswagen, EV, Germany's BASF, Automotive Cells Company, ACC, Stellantis, Tesla, FRANCE Joint, France, Renault, Basque Country, Spanish, India's Tata Group, ITALY Joint, POLAND LG, European Commission, SWEDEN Northvolt's Skelleftea, Thomson Locations: Vasteras, Sweden, Europe, Asia, United States, GERMANY, Heide, Schleswig, Holstein, Salzgitter, Lower Saxony, China, Erfurt, Thuringia, Schwarzheide, Brandenburg ., Ludwigsfelde, Berlin, Kaiserslautern, Rhineland, Palatinate, Gigafactory, FRANCE, Billy, France, Dunkirk, Douai, Ruitz, Ergué, Quimper, Montreal, SPAIN Spain, Europe's, Germany, Navalmoral de, Extremadura, Sagunto, Valencia, Spain, Basque, Slovakian, Spain's, Valladolid, Britain, ITALY, Termoli, POLAND, Wroclaw, HUNGARY

☆ These European companies cut jobs this year
▼ + stars: | 2023-05-16 | by ( ) www.reuters.com time to read: +4 min

TECH* ERICSSON (ERICb.ST): the telecom equipment maker will lay off 8,500 employees globally as part of its plan to cut costs, a memo seen by Reuters said. * NOKIA (NOKIA.HE): the Finnish telecom equipment maker said on May 3 it plans to cut up to 208 jobs in Finland. * PHILIPS (PHG.AS): the Dutch medical equipment maker on Jan. 30 said it would cut 6,000 jobs to counter falling sales and after a massive recall of its respiratory machines. * SAP (SAPG.DE): the German software company said on Jan. 26 it planned to shed 3,000 jobs, 2.5% of its global workforce, to cut costs and focus on its cloud business. * EVONIK (EVKn.DE): the German specialty chemicals producer said on April 3 it would cut 200 jobs as part of restructuring of its pet food unit.

☆ Bank of America loves these 10 unloved global stocks with major upside
▼ + stars: | 2023-05-15 | by ( Ganesh Rao | ) www.cnbc.com time to read: +2 min

Bank of America strategists have named the ten European stocks they believe are currently undervalued and could provide significant investment returns. These picks, which the investment bank refers to as the "Beat Factor Top 10," are primarily made up of industrial and financial companies. Bank of America analysts expect shares of Airbus to rise by 64% to 200 euros per share ($217) over the next 12 months. The "Beat Factor" is a measure Bank of America analysts use to identify the most divergent stock ideas on the FTSE Eurofirst 300. Despite the share price gains, Bank of America strategists remain bullish on the stock coming out of the earnings season.

☆ 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.

☆ Delivery Hero forecasts 2023 GMV growth of 5-7%
▼ + stars: | 2023-04-27 | by ( ) www.reuters.com time to read: +1 min

April 27 (Reuters) - German online takeaway food company Delivery Hero (DHER.DE) on Thursday forecast single-digit percentage growth in 2023 gross merchandise value (GMV), citing a "promising start" to the second quarter and expecting an acceleration in growth throughout the year. The Berlin-based company expects its GMV to grow between 5% and 7% in constant currency this year. After a pandemic-driven boost to growth, Delivery Hero has focused on reaching long-awaited profitability as investor confidence in the rapidly expanding but mostly unprofitable sector started to wane. It reported a GMV of 11.2 billion euros ($12.39 billion) for the first quarter, up 2.1% in constant currency and in line with analysts' estimate in a company-compiled consensus. ($1 = 0.9042 euros)Reporting by Anna Mackenzie and Linda Pasquini in Gdansk; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ Puma expects Q2 sales growth below full-year target
▼ + stars: | 2023-04-26 | by ( ) www.reuters.com time to read: +1 min

April 26 (Reuters) - German sportswear maker Puma (PUMG.DE) on Wednesday said it expected second-quarter sales to grow at a low- to mid-single-digit percentage rate, below its full-year target, due to high inventory levels and ongoing challenges in the market. The company said it expected its profit and margins to be under more pressure in the first half of 2023 than in the second half. Puma's revenue rose to 2.19 billion euros ($2.41 billion) in the first quarter from 1.91 billion euros in 2022, ahead of the 2.15 billion expected by analysts, according to Refinitiv Eikon data. The company said strong growth globally, including Greater China, helped it offset a weaker performance in the over-inventoried U.S. market. Puma confirmed its full-year outlook for currency adjusted revenue growth in high single digits, and an operating profit of between 590 million and 670 million euros.

☆ TomTom returns to profit as location tech gains steam
▼ + stars: | 2023-04-14 | by ( ) www.reuters.com time to read: +1 min

But the Amsterdam-based company said operating expenses declined year-on-year in the first quarter, helped by the reorganisation of its maps unit it announced last year. "The decrease mainly reflects efficiency gains realized in the research and development activities for our geographic data," TomTom said. The company reported quarterly operating profit of 2.6 million euros ($2.88 million), while analysts polled by the company had forecast a loss of 12 million euros. It had posted operating loss of 19.8 million euros in the first quarter of 2022 and a loss of 4.5 million euros in the fourth quarter. Its first-quarter revenue rose 10% to 141 million euros, against analysts' forecast of 132 million euros, driven by 12% growth in its biggest location technology unit and 34% growth in automotive.

April 13 (Reuters) - Swiss fragrance and flavour maker Givaudan (GIVN.S) on Thursday reported quarterly like-for-like sales slightly above expectations, with price rises helping to offset lower sales volumes in North America. Its first-quarter revenue rose 3.6% to 1.84 billion Swiss francs ($1.97 billion) on a like-for-like basis, beating the 1.80 billion francs expected by analysts in a poll compiled by the company. The sales growth was below Givaudan's mid-term target of between 4% and 5% on average, which it also reiterated. On a reported basis, sales fell 0.4% to 1.77 billion Swiss francs. Givaudan reported a 9.5% drop in like-for-like sales in North America, the only region to record a decline in the quarter.

☆ Givaudan's quarterly sales beat expectations
▼ + stars: | 2023-04-13 | by ( ) www.reuters.com time to read: +1 min

April 13 (Reuters) - Swiss fragrance and flavour maker Givaudan (GIVN.S) on Thursday reported quarterly like-for-like sales above expectations, saying it started the year with good business momentum while maintaining operations and global supply chain at a high level. Its first-quarter revenue rose 3.6% to 1.84 billion Swiss francs ($1.97 billion) on a like-for-like basis, compared with analysts' average forecast of 1.80 billion francs in a poll compiled by the company. The sales growth was below Givaudan's mid-term target of between 4% and 5% on average, which it also confirmed in the press release. On a reported basis, its sales fell 0.4% to 1.77 billion Swiss francs. Givaudan reported a 9.5% drop in like-for-like sales in North America, the only region to record a decline in the quarter.

☆ Factbox: Governments' efforts to regulate AI tools
▼ + stars: | 2023-04-12 | by ( ) www.reuters.com time to read: +3 min

April 12 (Reuters) - Italy's data protection agency said on Wednesday it would lift its temporary ban on OpenAI's ChatGPT artificial intelligence (AI) technology if the U.S. company complied with data protection and privacy demands by end-April. Rapid advances in AI such as Microsoft-backed OpenAI's ChatGPT are complicating governments' efforts to agree on laws governing the use of the technology. Lawmakers have proposed classifying different AI tools according to their perceived level of risk, from low to unacceptable. On Wednesday, its data protection agency set an end-April deadline for OpenAI to meet its demands on data protection and privacy before the service can be resumed in the country. SPAINSpain's data protection agency has asked the EU's privacy watchdog to evaluate privacy concerns surrounding ChatGPT, the agency told Reuters on April 11.

☆ Campbell Soup lifts annual sales forecast on robust snack demand
▼ + stars: | 2023-03-08 | by ( ) www.reuters.com time to read: +2 min

March 8 (Reuters) - Campbell Soup Co (CPB.N) raised its annual sales forecast on Wednesday, betting on higher prices, improved supply and strong demand for its packaged meals and snacks. Shares of the Prego pasta sauces maker rose about 2% in premarket trading after it also topped market estimates for quarterly sales. Organic net sales in Campbell's snacks division, which represents roughly half of its portfolio, jumped 15% in the second quarter, fueled by robust demand for its brands including Goldfish crackers, Cape Cod potato chips and Pepperidge Farm cookies. The company's net sales rose to $2.49 billion in the quarter ended Jan. 29, from $2.21 billion a year earlier, compared to analysts' average estimate of $2.44 billion in Refinitiv IBES data. The Camden, New Jersey-based soup maker said it expected net sales to rise between 8.5% and 10% in fiscal 2023, compared with its previous forecast of 7% to 9% growth.

☆ Campbell Soup lifts sales outlook as Americans keep snacking
▼ + stars: | 2023-03-08 | by ( Deborah Mary Sophia | ) www.reuters.com time to read: +2 min

Though stretched thin amid increasing prices, Americans are still snacking on Campbell's cookies and salty snacks while a continued preference for cooking at home has further bolstered demand. While U.S. soup sales rose 7% in the second quarter, Campbell is facing growing competition from cheaper private-label counterparts for soups and broth. New Jersey-based Campbell expects fiscal 2023 net sales to rise between 8.5% and 10%, up from its previous forecast of 7% to 9%. It also projected annual adjusted earnings of $2.95 to $3.00 per share, compared with a prior target of $2.90 to $3.00. Reporting by Deborah Sophia in Bengaluru; Editing by Milla NissiOur Standards: The Thomson Reuters Trust Principles.

☆ HelloFresh shares drop as profit outlook disappoints
▼ + stars: | 2023-03-07 | by ( Linda Pasquini | ) www.reuters.com time to read: +3 min

Germany's HelloFresh sees adjusted core profit (AEBITDA) of between 460 million and 540 million euros ($492 million and $577 million) in 2023, compared with analysts' estimate of 547 million euros. He said HelloFresh was not planning any lay-offs at the moment, and refrained from giving an update on the mid-term outlook. HelloFresh expects its revenue to grow 2% to 10% on a constant-currency basis this year, compared with growth of 18% in 2022. The company also forecast "relatively muted" order growth for 2023. HelloFresh reported annual AEBITDA of 477.4 million euros, above the 464.5 million euros expected by analysts.

☆ Heineken blames Russia exit delay on local paperwork
▼ + stars: | 2023-03-07 | by ( ) www.reuters.com time to read: +1 min

March 7 (Reuters) - Heineken (HEIO.AS) on Tuesday blamed the delay in its Russia exit on local bureaucracy that it said was beyond its control, and reiterated it still planned to exit the country. Last month, a story by investigative website Follow The Money questioned whether Heineken had followed through on its March 2022 promise to leave Russia, including selling its non-Heineken international brands like Amstel. "There's no ambiguity about our promise: we will leave Russia," Heineken said in a Q&A section on its website on Monday, to which it referred in Tuesday's statement. Heineken is the third largest brewer in Russia and the local business accounts for just 2% of its global sales, the company said. Danish rival Carlsberg (CARLb.CO) said on Tuesday its chief executive Cees't Hart would retire at the end of September after seeing through the sale of its Russian business.

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