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☆ Pfizer Raises Revenue View on Higher-Than-Expected Covid-19 Vaccine Sales
  + stars: | 2022-11-01 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Pfizer, with headquarters in New York, said its operations improved despite seeing a hit from a stronger dollar. Pfizer Inc. raised its revenue outlook for the year on higher-than-expected sales from its Covid-19 vaccine despite reporting a drop in third-quarter revenue. The New York-based drug company on Tuesday said it now expects to end the year with revenue in the range of $99.5 billion to $102.0 billion, as its operations improved despite seeing a hit from a stronger dollar.
☆ Merck Lifts Outlook After Quarterly Sales Rise 14%
  + stars: | 2022-10-27 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Merck says sales climbed to $15 billion in the latest quarter, ahead of market expectations. Merck & Co. raised its revenue outlook after posting a 14% rise in third-quarter sales on growing demand for its oncology treatments and vaccines. The pharmaceutical giant on Thursday said sales climbed to $15 billion in the quarter ended Sept. 30, ahead of market expectations of nearly $14.1 billion, according to FactSet .
☆ Caterpillar Sales Up 21% on Higher Prices, Equipment Sales
  + stars: | 2022-10-27 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Caterpillar said sales of its construction equipment increased to $6.3 billion in the latest quarter boosted by higher sales across all regions. Caterpillar posted a 21% increase in third-quarter sales as demand for its construction and other heavy equipment held up as it raised prices. The construction equipment maker on Thursday said overall sales came in at $15 billion in the quarter, ahead of analyst estimates for $14.4 billion, according to FactSet.
☆ Bed Bath & Beyond Elevates Sue Gove to Permanent CEO
  + stars: | 2022-10-26 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Bed Bath & Beyond on Wednesday named Sue Gove as its permanent chief executive to lead the struggling home-goods retailer as it undergoes a turnaround. Ms. Gove, a veteran retail executive who had served on the company’s board, became interim CEO of Bed Bath & Beyond at the end of June. She succeeded Mark Tritton after sales plunged in the wake of his attempt to quickly overhaul the retailer by clearing up crowded aisles, scaling back coupons and increasing private-label assortment.
☆ Ryder’s Supply-Chain Expansion Boosts Earnings and Stability
  + stars: | 2022-10-26 | by ( Sabela Ojea | Ryder Ceo Robert Sanchez | ) www.wsj.com   time to read: +3 min
Ryder System Inc. sees its growing investments in supply-chain services continuing to pay off with stronger profit, even in a wavering U.S. economy. The founders of that business, Andrew Berberick and Nate Robert, joined Ryder as co-chief product and technology officers for Ryder’s supply chain and transportation segments. Newsletter Sign-up The Logistics Report Top news and in-depth analysis on the world of logistics, from supply chain to transport and technology. “On supply chain, these are contractual businesses so even when there’s some volatility in the market the margins hold up fairly well.” Mr. Sanchez said in an earnings conference call Wednesday. Mr. Sanchez said on the earnings call that Ryder hasn’t ruled out “targeted acquisitions” to bolster the business.
☆ Amazon to Add Venmo as Payment Option Ahead of Holiday Season
  + stars: | 2022-10-25 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Amazon.com Inc. said Tuesday that it is adding Venmo as a new payment option for its customers ahead of Black Friday and the holiday season. The e-commerce company said the partnership with the payments app owned by PayPal Holdings Inc. would allow users to use this option when they check out for orders placed on Amazon.com and Amazon’s mobile app.
☆ Coca-Cola Sales Up 10% as Demand Holds Amid Rising Prices
  + stars: | 2022-10-25 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Coca-Cola said a stronger dollar dented its top line by 8 percentage points in the latest quarter. Coca-Cola posted 10% sales growth in the third quarter, prompting the company to raise its revenue outlook for the year as demand stays strong for its beverages despite higher prices. The sales gain comes even as the global beverage giant reported a significant impact from the stronger dollar, which dented the top line by 8 percentage points. Coca-Cola said organic revenue, a metric that strips out currency effects, acquisitions and divestitures, was up 16% year over year.
☆ Medtronic to Spin Off Patient-Monitoring, Respiratory Interventions Businesses
  + stars: | 2022-10-24 | by ( Sabela Ojea | Peter Loftus | ) www.wsj.com   time to read: 1 min
Medtronic said the separation of its businesses isn’t expected to affect the company’s dividend policy. Medtronic PLC said it is separating its patient-monitoring and respiratory intervention businesses in an effort to boost its long-term prospects. The businesses, which include pulse oximeters and ventilators, generate about $2.2 billion in annual sales, or nearly 7% of Medtronic’s overall revenue. Medtronic said the businesses, with over 8,000 employees globally, were slightly below the company’s overall performance in terms of gross margin and revenue growth.
☆ Prologis Signals Caution in Industrial-Property Development
  + stars: | 2022-10-19 | by ( Liz Young | Sabela Ojea | ) www.wsj.com   time to read: +4 min
Warehouse supply remains tight compared with demand, but Prologis will make decisions on new sites on a “deal by deal” basis, he added. Prologis trimmed its plans for new development starts for this year to a range of $4.2 billion to $4.6 billion, from a projected range of $4.2 billion to $5 billion the prior quarter. Companies signed new leases for about 920 million square feet of warehouse space in 2021 compared with 619 million square feet in 2019, according to Cushman & Wakefield. Mr. Moghadam said Amazon hasn’t pulled out of any of its Prologis buildings or projects and the e-commerce company is taking on new space. He said e-commerce companies overall have been leasing new space to compete with Amazon’s sprawling network.
☆ Hasbro’s Sales Drop 15% as High Prices Jolt Consumers
  + stars: | 2022-10-19 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Hasbro posted a 15% decrease in third-quarter sales as it warned of heightened price resistance for consumers ahead of the coming holiday season. The entertainment and toy company on Tuesday said that it had to increase promotional activity in the latest quarter amid a buildup in inventory this year, which caused a decrease in profit.
☆ Beyond Meat COO Doug Ramsey Leaves Company After Allegedly Biting Man’s Nose
  + stars: | 2022-10-14 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Beyond Meat said it expects to see full-year revenue decline about 9% to 14%. Beyond Meat parted ways with its operating chief, who had been suspended after being arrested for allegedly biting a man’s nose and threatening to kill him. The plant-based meat company said Friday in a securities filing that Chief Operating Officer Doug Ramsey was no longer with the company. Beyond Meat suspended the executive last month after his arrest following what authorities said was a fight in an Arkansas parking garage. Mr. Ramsey didn’t respond to requests for comment.
☆ Beyond Meat Trims Revenue Outlook, Aims to Cut 20% of Workforce
  + stars: | 2022-10-14 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Beyond Meat said it expects to see full-year revenue decline about 9% to 14%. Beyond Meat cut its full-year revenue outlook further and said it is reducing its global workforce by nearly 20% as it focuses on lowering expenses amid high levels of inflation. The plant-based meat company also made several changes to its executive ranks, including naming a new chief financial officer and parting ways with its operating chief, who had been suspended after being arrested following what authorities said was a fight in an Arkansas parking garage.
☆ Beyond Meat Executive Doug Ramsey Leaves Company After Allegedly Biting Man’s Nose
  + stars: | 2022-10-14 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Beyond Meat said it expects to see full-year revenue decline about 9% to 14%. Beyond Meat parted ways with its operating chief, who had been suspended after being arrested for allegedly biting a man’s nose and threatening to kill him. The plant-based meat company said Friday in a securities filing that Chief Operating Officer Doug Ramsey was no longer with the company. Beyond Meat suspended the executive last month after his arrest following what authorities said was a fight in an Arkansas parking garage. Mr. Ramsey didn’t respond to requests for comment.
☆ Walgreens Quarterly Sales Fall on Fewer Prescriptions, Covid-19 Vaccinations
  + stars: | 2022-10-13 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Walgreens Boots Alliance posted a 5.3% drop in revenue in its recently completed quarter as it filled fewer prescriptions and administered fewer Covid-19 vaccinations. The Deerfield, Ill.-based drugstore chain saw a nearly 9% drop in U.S. pharmacy sales, after giving 2.9 million Covid-19 vaccinations and 3.4 million PCR tests in the period. This compares with 13.5 million vaccinations in the same period a year earlier.
☆ PepsiCo Raises Guidance Again as Higher Prices Lift Sales
  + stars: | 2022-10-12 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
PepsiCo reported a nearly 9% rise in third-quarter revenue and again lifted its sales outlook for the year as it continued to increase prices on its snacks and drinks amid rising costs. The company on Wednesday said that it expected full-year organic revenue—a metric that adjusts for items such as foreign-exchange translations, acquisition and divestitures—to increase 12%, up from the 10% it had forecast in July. It started its fiscal year, which ends in late December, expecting organic sales up 6%.
☆ PepsiCo Raises Prices, Lifts Sales Views Again
  + stars: | 2022-10-12 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Prices for PepsiCo snacks and drinks are going up further. The company has already pushed prices higher in the latest quarter, Chief Financial Officer Hugh Johnston said Wednesday, and was prepared to lift them more if costs escalate.
☆ PepsiCo’s Higher Prices for Soda and Snacks Test Consumers’ Resolve
  + stars: | 2022-10-12 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
PepsiCo raised prices on its snacks and drinks by 17% on average from last year. Makers of consumer goods are watching to see whether they can do the same without people slamming the brakes on purchases. Food and beverage companies have been under pressure to raise prices to pass off higher costs for everything from raw materials to labor. In the U.S., food inflation is at the highest level in 40 years, with grocery prices up 13.5% in August compared with a year earlier, according to the latest data from the Labor Department.
☆ Ford Puts Focus on Electric-Vehicles Market With Management Changes
  + stars: | 2022-09-22 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Ford Motor said it is enhancing its position in the electric-vehicles market and global supply chain through changes in its leadership team. The auto maker Thursday named Doug Field as its chief advanced product development and technology officer and expanded Financial Chief John Lawler ’s role to cover global supply-chain operations on an interim basis.
☆ Coty Aims to Double Skincare Sales in Three Years
  + stars: | 2022-09-21 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Kylie Skin is one of the brands of Coty Inc., which is making skin care a focus in its drive to double sales in coming years. Coty said Wednesday it expects to double sales of its skin care products in coming years, a goal the beauty company has kicked off by homing in on consumers in China. The beauty company said that it is on track to see skin care revenue increasing to as much as $600 million by 2025. In China, where it has rolled out brands and targeted new markets, it is already winning over consumers to its skin care lines, Chief Executive Officer Sue Nabi said ahead of a company investor event. She added that the total skin care market is $150 billion, leaving more opportunity for Coty to grow.
☆ General Mills Posts Higher Sales as Costs Escalate Further
  + stars: | 2022-09-21 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
General Mills higher sales in its fiscal first-quarter as more consumers eat at home in response to higher prices, including from the food company, as costs escalate further. The maker of Cheerios cereal and Betty Crocker cake mix Wednesday said it now sees costs rising as much as 15% for its current fiscal year, higher than its forecast from June, due to increases for raw materials, labor, freight and fuel.
☆ Take-Two Says Hackers Downloaded ‘Grand Theft Auto’ Footage
  + stars: | 2022-09-19 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Take-Two Interactive Software said hackers broke into the networks of its Rockstar Games Inc. unit and illegally accessed early development footage of the company’s next “Grand Theft Auto” videogame. Take-Two disclosed the hack in a securities filing Monday, saying that an unauthorized third party downloaded confidential information from its systems. The New York-based company said that Rockstar Games doesn’t expect any long-term disruptions from the incident and that work on the widely known game will continue as planned.
☆ Logistics Report and News
  + stars: | 2022-09-19 | by ( Paul Page | Paul Berger | Esther Fung | ) www.wsj.com   time to read: +1 min
Amazon’s purchase of the Belgian business is the latest in a string of buys the e-commerce giant has made to automate its logistics operations. The e-commerce giant has targeted 66 planned or existing facilities in what experts say amounts to a reconfiguration of its fulfillment in local U.S. markets. Companies including Norfolk Southern and Union Pacific are still negotiating with two unions ahead of a Friday deadline. Newell Brands Says Retailers Are Cutting Consumer-Goods Orders The conglomerate scaled back its sales outlook, signaling retail supply chains are retrenching as they head into the fall. Retailers Start Selling Something New: Logistics Services The lineup of retailers seeking to sell supply-chain services to other merchants is growing, raising questions about control, competition and customer experience.
☆ Hackers Leaked ‘Grand Theft Auto’ Footage, Rockstar Games Says
  + stars: | 2022-09-19 | by ( Sabela Ojea | ) www.wsj.com   time to read: 1 min
Shares in Take-Two fell after hackers accessed early-development footage of the next ‘Grand Theft Auto’ videogame. Take-Two Interactive Software said hackers broke into the networks of its Rockstar Games Inc. unit and illegally accessed early-development footage of the company’s next “Grand Theft Auto” videogame. Take-Two disclosed the hack in a securities filing Monday, saying that an unauthorized third party downloaded confidential information from its systems. The New York-based company said that Rockstar Games doesn’t expect any long-term disruptions from the incident and that work on the widely known game will continue as planned.
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