Kraft Foods Inc. has announced positive third-quarter 2008 results as the company executes its three-year turnaround plan. Strong organic net revenue growth of 7.1 per cent was, in part, driven by pricing actions to offset significantly higher input costs. Pricing contributed 8.4 percentage points, but an unfavorable mix reduced net revenue by 0.4 percentage points and volume was down 0.9 percent - reflecting the impact of significant cost-driven pricing actions. “Kraft had a strong quarter... ...Read more »
Captain’s Table is expanding its product offering with a new range of premium dips, the brand’s first venture beyond its iconic water crackers. The move into a ‘complementary’ product category appears a suitable extension for the brand, which was first launched in 1982. “Australians have enjoyed Captain’s Table crackers for over 20 years. The brand extension is a logical step forward and the delicious range of premium dips has been inspired by some of the world’s... ...Read more »
Vegemite, the iconic Australian product owned by Kraft, has sent the one billionth jar down the production line some 85 years after its launch. The product was created by Chemist Dr Cyril P Callister back in 1922 and first hit retailers’ shelves the following year. The product was not immediately embraced by Australians, however, with a name change to Parwill - a play on the name of the similar English product Marmite - in 1928 designed to boost its flagging fortunes. Parwill was only ever... ...Read more »
The Procter & Gamble Company has filed a patent lawsuit against Kraft Foods Inc., manufacturer of the Maxwell House Coffee brand. The lawsuit, filed in the United States Federal District Court for the Southern District of Ohio in Cincinnati, alleges that the new four-pound plastic container for Maxwell House coffee, now being introduced in America, infringes key Procter & Gamble patents on Folgers Coffee. In 2003, P&G introduced Folgers Coffee in a “consumer-preferred plastic container”.... ...Read more »
Kraft Foods Inc., one of the world’s leading food manufacturers, has announced optimistic progress in the middle of their three-year turnaround plan. At the Lehman Brothers Back-to-School Consumer Conference yesterday, the company outlined their plan to focus their attention on five categories, 10 brands and 10 markets. “At the midpoint of our three-year turnaround, we’re successfully rebuilding our brands through investments in quality, innovation and marketing across our global... ...Read more »
Kraft Foods Limited is conducting a voluntary food recall of the below products as a precautionary health measure. This recall is being made because some of the products have been found to contain small pieces of rigid, blue plastic which originated from the manufacturing process. KRAFT Braised Steak and Onions - 95g, 185g, 340g, 410g KRAFT Braised Steak and Mushroom - 410g KRAFT Braised Steak and Vegetables - 410g Best before dates: 06 AUG ‘10 - 10 JUL ‘11 inclusive Australian Distribution:... ...Read more »
The Council of Better Business Bureaus has released its first report on the progress that participants in BBB’s groundbreaking self-regulation program - the ‘Children’s Food & Beverage Advertising Initiative’ - have made in changing the children’s food and beverage advertising landscape. BBB has assessed the participants’ compliance with their pledges regarding child-directed advertising of their food and beverage products and concluded that the participants... ...Read more »
As trying economic conditions dampen consumer confidence and spending in the US, Kraft has implemented a new strategy to help drive supermarket sales of their brands. The “Wall-to-Wall” sales concept has resulted in a change in the method by which Kraft representatives work with retailers. In essence it has led to greater contact and communication, with many Kraft sales reps now frequenting stores on a daily basis in an endeavour to boost sales. The reps are responsible for the majority... ...Read more »
In a move believed to be a world first, 37 of the UK’s leading food and consumer goods companies yesterday announced a major transport collaboration that will significantly reduce the environmental impact of transporting food and groceries in the UK. Initiatives such as sharing vehicles and more efficient warehousing will result in the industry saving 48 million miles of travel by the end of 2008 alone - equivalent to removing 800 lorries from Britain’s roads - and conserving 23 million... ...Read more »
Kraft Foods has outlined plans to cut portion sizes to help deal with rising food costs. They announced, in the wake of a fall in quarterly profit, that they are to begin producing new products in smaller portions as they seek to maintain sales in difficult economic conditions. A 13% fall in profit by the company was reported last week and was blamed primarily on the high cost of food commodities like wheat. Their news followed profit guidelines from McDonald’s, which suggested that... ...Read more »