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Daily QuickWit 5.06 – Yesterday’s top stories



Beyond Meat Inc on Thursday reported a wider quarterly loss than expected, due to higher transportation costs, new product innovation, and slowing sales to restaurants.

Kellogg’s net sales rose 5.1% YOY to $3.58 billion in their latest earnings release. Strong demand for its snacks helped drive the quarter’s sales growth. In North America, Kellogg saw organic revenue of its snacking division rise 3.5%.

FreshDirect Co-Founder-CEO Steps Down Post Acquisition. He will be succeeded on an interim basis by Farhan Siddiqi, chief digital officer of Ahold Delhaiz.

AB InBev also reported Q1 earnings. Tipping Wall Street’s estimates (despite lockdowns outside of the United States), overall sales were up +17.2%, volume up 13.3%. The current CEO will step down, effective July 1. Michel Doukeris, CEO of NA AB InBev, will take the reins.

General Mills’ in-house investment vehicle, has made its first move outside the US, backing UK desserts maker Pots & Co. John Haugen talks to Dean Best about his unit’s investment strategy and how Covid-19 has shaped what the US giant is looking for.

The US Now Has More Video Streaming Subscriptions Than People. Per Ampere’s estimates, in Q1 2021 there were 1.03 OTT subscriptions per person in the US, an almost-50% increase over the 0.7 subscriptions per person during the year-earlier period.

Only 4 in 10 Believe Name Brand Products Are Better Quality Than Private Label. The tides are a-changin’.


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