Page 25 - ARUBA TODAY

BUSINESS Wednesday 22 March 2017
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General Mills says sales of “light” yogurts hurting the most

gurt sales were down 20 the trade-off, they want quarter of double-digit de-
percent for the quarter, their calories to count — clines, following a 7 per-
with far steeper declines something that keeps them cent drop for the previous
in Yoplait Light and Yoplait full throughout the day,” fiscal year.
Greek 100 than for original Harmening said. The number of options in
Yoplait. Jeff Harmening, Yogurts that are “simple” the yogurt section has ex-
the company’s president with an “artisanal” feel and panded over the last few
and chief operating officer, deliver on taste are more years, General Mills noted,
noted the performance popular, General Mills said, with supermarkets devot-
reflects the broader de- and the company plans to ing more shelf space to
clines in “light” and “diet” launch a yogurt this sum- them. Yoplait had a mar-
products in recent years as mer to try to compete bet- ket share of 19 percent last
people move away from ter in that premium seg- year, according to market
calorie counting in search ment. researcher Euromonitor In-
of “calories that count.” General Mills has been try- ternational, down from 25
This photo shows Yoplait Greek yogurt on display at a supermar- As a result, he said General ing to do a better job stay- percent in 2011.
ket in Port Chester, N.Y. On Tuesday, March 21, 2017, General Mills is looking to use more ing on top of trends in the Another challenge in yo-
Mills Inc. reported another sales decline as it faces more com- whole milk in its yogurts, yogurt category, after ac- gurt has been competitors
petitive pricing and a market that has been shifting demand and pointed to the launch knowledging it was slow to discounting more heav-
from processed foods. of its Yoplait custard yogurt act on the surging popular- ily as a result of declining
(AP Photo/Donald King)
earlier this year. That prod- ity of Greek yogurt several dairy costs, General Mills
CANDICE CHOI popularity, a trend that uct has more calories than years ago. The 20 percent said. The company said
AP Food Industry Writer General Mills said Tuesday even original Yoplait, but drop in domestic yogurt its higher prices relative to
NEW YORK (AP) — Yogurts is hurting its U.S. yogurt tastes “really, really good,” sales for the three months competitors also hurt oth-
that have more fat and sales. he said. ended Feb. 26 marked the er categories during the
taste better are gaining The company said U.S. yo- “Consumers are making company’s third straight quarter.q
Carl’s Jr. parent company names CEO to replace Andy Puzder

CANDICE CHOI his acknowledgement that sex or race discrimination ic issues, and that he will be involved in the fast-food
AP Food Industry Writer he belatedly paid taxes case,” he had said about continue writing opinion industry.
NEW YORK (AP) — The par- on a former housekeeper replacing employees with pieces, doing TV interviews CKE, based in Franklin, Ten-
ent company of the Carl’s who was not authorized to automation in an interview and speaking at colleges. nessee, was acquired by
Jr. and Hardee’s chains work in the United States. with Business Insider. He said he hasn’t decided private equity firm Roark
on Tuesday named a new Puzder’s opposition to sig- In a phone interview Tues- whether he will continue to Capital in 2013.q
CEO to replace Andy nificant minimum wage day, Puzder said the nomi-
Puzder, who last month hikes and what he called nation process was not a
withdrew his nomination to “overregulation” rankled factor in his stepping down
be Labor Secretary under labor groups and Demo- as CEO of CKE, and that
President Donald Trump. crats, who questioned his he told the company he
CKE Restaurants Holdings ability to oversee the agen- wanted to retire when his
Inc. says Puzder will be re- cy in charge of protecting four-year contract was up
placed in April by Jason worker rights. at the end of this year.
Marker, who most recent- His past comments on auto- “I decided about a year
ly was president of Yum mation in the restaurant in- ago that I’ve been CEO
Brands Inc.’s Kentucky dustry also became a point long enough,” he said, not-
Fried Chicken in the United of contention. “They’re ing that he will turn 67 in
States. Puzder withdrew always polite, they always July.
his nomination to be La- upsell, they never take a Puzder, who has been CEO
bor Secretary in February vacation, they never show of CKE since 2000, said he
after Senate Republicans up late, there’s never a signed a contract to write
became troubled about slip-and-fall, or an age, a book about econom-

FedEx profit rises but misses Street’s target

MEMPHIS, Tenn. (AP) — In- 19 percent. Adjusted profit, The forecast assumes
come and revenue rose which excludes costs relat- “moderate” global eco-
during the peak holiday ed to the acquisition and nomic growth.Third-quarter
season at FedEx, but high- restructuring of TNT Express, revenue of $15.0 billion was
er fuel costs helped keep was $2.35 per share. That slightly higher than the pre-
profit below Wall Street’s was well short of the $2.63 diction of $14.96 billion by
forecast. per share forecast by 11 eight of the Zacks analysts.
Holiday-season package analysts surveyed by Zacks The company took charg-
volume was the heaviest Investment Research. es of 28 cents per share
ever, as the big package- The company lowered its related to last year’s acqui-
delivery company con- forecast of full-year earn- sition of Dutch delivery ser-
tinues to benefit from the ings excluding pension-ac- vice TNT Express. The com-
growth in online shopping. counting changes. It now pany is trying to reduce
FedEx Corp. said Tuesday sees those earnings at be- costs and increase efficien-
that it earned $562 million tween $10.80 and $11.30 cy in the TNT business, and
in its fiscal third quarter, up per share, compared with Chairman and CEO Fred
11 percent from a year ear- a previous forecast of Smith said that work was on
lier, and revenue increased $10.95 to $11.45 per share. schedule.q