CAMDEN, NJ: Campbell Soup Company has reported a 3.6% fall in first-quarter net profit to $291m on turnover up 8% at $2.2bn (£1.15bn). Sales were boosted by price increases and new products, including lower sodium soups. Profit was hit by a tax gain last year.
Latvia bans junk in schools
RIGA: Latvia has become the first country in the EU to impose a total ban on junk foods in schools and nurseries, which prohibits the sale of any food or drink high in sugar, salt or artificial colours and preservatives. Instead, schools will promote alternatives such as milk, fruit and nuts as part of a bid to encourage children to lead healthier lifestyles.
Nestlé studies children's brains
VEVEY: The Nestlé Research Centre has committed CHF5m (£2.1m) a year to conduct research into the relationship between nutrition and the brain. The centre will study children's brain development, try to identify ways of slowing down brain decline and prevent diseases in elderly people, and carry out research into taste and flavour enhancement.
PepsiCo buys smoothie operator
PURCHASE, NY: PepsiCo has acquired juice firm Naked Juice Company from private equity group North Castle Partners for an undisclosed sum. The California-based manufacturer makes more than 25 chilled juices and smoothies, which are sold in supermarkets and health food stores. "The company's products are consistent with PepsiCo's overall health and wellness focus," said Greg Shearson, president of Tropicana Products North America, part of PepsiCo.
Japanese supermarket slump
TOKYO: Like-for-like sales at Japanese supermarkets fell 3.1% in October, according to Japan Chain Stores Association data. It is the 10th consecutive month that like-for-like sales have recorded a decrease. Total sales fell 2.2% during the month, although food sales, which make up 60% of supermarket sales in the country, rose 0.2%.
Winn-Dixie fights on
JACKSONVILLE, FL: Supermarket chain Winn-Dixie has emerged from bankruptcy. It has achieved restructuring objectives set out when it first filed for bankruptcy in February 2005 and has secured $725m in new financing from a consortium led by Wachovia Bank. "We have reduced our store footprint to focus on markets where we are best positioned," said Peter Lynch, CEO. "We have strengthened our balance sheet through significant reduction in debt and have enhanced operating cashflows through increased sales and expense reductions."
Tesco takeover clearance delayed
BRATISLAVA: The deadline for clearance for Tesco to take over four stores from Carrefour has been postponed by the Slovak Republic's Antitrust Office until 17 January. The supermarkets have been waiting for the go-ahead since the deal was announced in 2005.