Market News
Whole Foods Market (WFMI)
Reuters is reporting that at the Whole
Foods Market shareholder meeting in Vancouver, BC, the Sustainable Supply
Chain Coalition, an alliance of environmental groups, food activist
organizations and labor unions, rallied today in support of four shareholder
resolutions and called for a change in Whole Foods Market, Inc. and its supplier United Natural Foods Inc. unsustainable
business practices. "I am concerned about Whole Foods' expansion into Canada," said Don McGill,
Teamster Vice President, Canada. "Whole Foods workers do a great job but how
can the Canadian workforce expect Whole Foods management to operate with
respect for workers' rights when we have seen their violations in the United
States?"
This could snowball, even if only from a PR standpoint. Having the teamsters against you is not a good thing.
Mar 9 · 12:04:00 PM · Source: Reuters.com
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by Rich Pike
Estee Lauder (EL)
Cosmetics manufacturer and marketer The Estee Lauder Companies Inc. has created a new division, The Corporate Marketing Center of Excellence, aimed at boosting its global marketing efforts and driving traffic to its e-commerce sites. The company appointed Johnson & Johnson marketing executive Georgia Garinois-Melenikiotou, to oversee the division as senior vice president, corporate marketing, effective April 1.
In her new role, Garinois-Melenikiotou will oversee the corporate marketing team that supports Estee Lauder’s brand-specific marketers as well as its research and development and regional teams. She will lead efforts to strengthen consumer marketing effectiveness across the organization.
Mar 9 · 11:49:00 AM · Source: Internetretailer.com
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by Rich Pike
Dr Pepper Snapple Group (DPS)
MarketWatch.com is reporting that Moody's Investor Service said Monday that it raised the long term debt rating of Dr Pepper Snapple Group Inc. to Baa2 from Baa3. The outlook is positive. The upgrade was due to "good business momentum and substantial improvement in financial metrics since DPSG's spin off from Cadbury in May 2008," Moody's said in a statement.
This can help Dr Pepper Snapple over time to reduce their borrowing costs.
Mar 9 · 11:45:00 AM · Source: MarketWatch.com
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by Rich Pike
Procter & Gamble (PG)
The Associated Press reported that Procter & Gamble Co. has recalled two versions of Pringles chips because of concerns about potential Salmonella exposure. Procter & Gamble Co. said the Cheeseburger and Taco Night versions of the snack are being recalled. The Company is offering replacement coupons or refunds. Procter & Gamble Co. says the two varieties represent only one-half of 1% of Pringles U.S volume and the recalled versions are only sold in the U.S. The Company says there have been no reports of illnesses.
This should be just a minor blip on the radar screen for P&G.
Mar 9 · 11:38:00 AM · Source: Reuters.com
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by Rich Pike
MetLife (MET)
MetLife, Inc. announced today a definitive agreement to acquire one of American International Group, Inc.'s international subsidiaries, American Life Insurance Company, for approximately $15.5 billion. The consideration will consist of $6.8 billion in cash and approximately $8.7 billion in MetLife equity securities, subject to closing adjustments.
And more cash comes in to help out the U.S. taxpayer.
Mar 9 · 11:38:00 AM
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by Larry Etter
Frederick's of Hollywood (FOH)
Frederick’s of Hollywood today announced financial results for its fiscal 2010 second quarter and six months ended January 23, 2010. Net sales decreased 21.3% to $41,321,000 from $52,516,000. Adjusted EBITDA was a loss of $2,617,000 compared to a profit of $1,278,000. Fiscal Six Months Ended January 23, 2010 Compared to Fiscal Six Months Ended January 24, 2009: Net sales decreased 17.4% to $78,529,000 from $95,081,000. Adjusted EBITDA was a loss of $4,950,000 compared to a loss of $1,662,000.
The recession is definitely taking its toll on lingerie, which definitely fits into the highly discretionary category.
Mar 9 · 11:28:00 AM · Source: Company Press Release
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by Rich Pike
Oxford Industries (OXM)
Oxford Industries' Tommy Bahama brand has announced the release of a new series of "Collector's Edition"
Major League Baseball team shirts. These custom designed shirts are the next
phase in the unique collaboration between Tommy Bahama and Major League
Baseball Properties for co-branded collections of premium apparel.
Tommy Bahama celebrates the start of the 2010 baseball season with a series
of "Collector's Edition" shirts individually created for eight Major League
Baseball teams, including the Boston Red Sox, Chicago White Sox, Los Angeles
Angels of Anaheim, Los Angeles Dodgers, New York Yankees, Philadelphia
Phillies, Seattle Mariners, and St. Louis Cardinals.
Mar 9 · 11:22:00 AM · Source: Reuters.com
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by Rich Pike
Lan Chile S.a. (LFL)
Chilean carrier LAN Airlines (NYSE: LFL) announced on Friday the increase of capacity of its domestic and international operations to and from Santiago International Airport, according to TradingMarkets.com. As of Friday, LAN was operating 54% of its normal flight operations to and from Santiago.
Even though the airline is still operating some temporary LAN facilities at the Santiago airport, the systems that we have in place are working quickly and efficiently, stated a LAN official. We hope to be able to return to operating 100% of our flights out of the Santiago airport terminal shortly.
Mar 9 · 11:12:00 AM · Source: TradingMarkets.com
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by Steve Wieczorek
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