Author: Richa Naidu
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Shoppers say they want sustainable goods, but won’t pay more
By Richa Naidu and Helen Reid LONDON (Reuters) – Consumer goods makers and retailers investing in sustainably made products after years of shopper outcry, say they face an uphill struggle convincing people to switch when those products cost more or look inferior. Shareholders, consumers and regulators have pressured companies – from Kimberly-Clark and Nestle to…
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Nestle sales soar as price rises drive growth
By John Revill and Richa Naidu ZURICH/LONDON (Reuters) -Nestle posted its strongest nine-month sales growth in 14 years on Wednesday and raised its full-year guidance as the world’s largest packaged food company lifted prices without losing many customers. The maker of KitKat chocolate bars and Nescafe reported organic sales, which cut out the impact of…
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As deadline looms, some Swedish Match investors oppose Philip Morris deal
By Marie Mannes and Richa Naidu GDANSK/LONDON (Reuters) -The clock is ticking for tobacco giant Philip Morris to rally support from Swedish Match shareholders for its offer to buy the snus maker – and not everyone is on board. Chicago-based Framtiden Partnerships, a Swedish Match shareholder for nearly two decades, told Reuters on Wednesday that…
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Makers of Dawn dish soap, Heinz ketchup, Clorox boost defenses against store brand rivals
The makers of brand-name products such as Tide detergent and Kraft Macaroni & Cheese are bolstering their defenses against store-brand rivals like Walmart’s Great Value products as shoppers’ budgets start to show signs of strain due to persistent inflation. Executives at Clorox Co. said in a Monday evening earnings call that they have seen private-label…
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Exclusive-From Kentucky to Arkansas, America’s least-vaccinated states led in-store holiday shopping
By Richa Naidu and Praveen Paramasivam (Reuters) – American shoppers flocked to brick-and-mortar stores this holiday season, with especially strong sales in several states where the rate of full vaccinations against the COVID-19 virus is less than 60%, according to an analysis of Mastercard Inc holiday sales data. About halfway through the more than $800…
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Amazon’s trucking ambitions bump up against driver shortage, competition
By Lisa Baertlein and Richa Naidu LOS ANGELES/CHICAGO (Reuters) – Amazon.com Inc’s push to recruit big-rig contractors to haul goods across its web of warehouses is colliding with a trucker shortage as the e-commerce company moves what are expected to be record numbers of packages this holiday season. Its project, called Amazon Freight Partners (AFP),…
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Walmart raises full-year sales, profit forecasts as holidays start strong
By Aishwarya Venugopal and Richa Naidu (Reuters) -Walmart Inc on Tuesday raised its annual sales and profit forecast in anticipation of a surge in demand for toys and apparel during the crucial holiday season, even as global supply chain disruptions hit its margins in the third quarter. Shares of the world’s largest retailer were flat…