Dr Pepper Snapple Group reports 3Q earnings; updates Snapple look, tea recipes
PLANO, Texas Dr Pepper Snapple Group on Thursday reports its results for the third quarter 2008—its first full quarter as a stand-alone business after leaving former parent company, Cadbury, May 7.
The company reported earnings of $0.41 per share for the third quarter 2008, compared to $0.61 per share third quarter 2007. Without restructuring costs over the last two years or separation and transaction costs in the current year, earnings totaled $0.45 per share for third quarter 2008, compared to $0.63 per share the previous year.
Net sales had declined by 2 percent, due to the loss of Glaceau water products distribution, the company said. Excluding Glaceau, net sales up were up 5 percent.
Dr Pepper Snapple Group also reported that carbonated beverage volume stayed steady, up 0.5 percent, while its non-carbonated volume, excluding Glaceau, was up 3 percent.
The company also reported year-to-date profit of $1.21 per share in 2008, compared to $1.42 per share for 2007. Without considering restructuring costs, earnings totaled $1.46 per share for the year, compared to $1.50 per share in 2007. The company also reported making$523 million in cash and repaying $295 million in since separating from Cadbury.
“Without a doubt, this is one of the toughest environments the beverage industry has faced in many years,” DPS president and chief executive officer, Larry Young said. “With disposable incomes falling, consumers are thinking harder about what they buy. Despite these headwinds, we demonstrated during the quarter that our portfolio of flavored beverages has room to grow and that our business continues to generate strong cash flow.”
DPS has also announced the reformulation and reinvented look for its Snapple bottled teas. The new formulations are aimed at increasing consumer interest despite the cash-poor economy by making the Snapple teas more economical.
The Snapple marketing team is also working to produce a hip, flashy new ad campaign to draw in younger consumers, reports said.
Meijer updates databasing technology with aid from QuantiSense
GRAND RAPIDS, Mich. Meijer grocery and general merchandise business has announced that it will build onto its current business intelligence systems by adding QuantiSense data tools.
The tools will help Meijer with improved information fathering, sorting and storage operations, reports said. Meijer will also have more support to for interaction between parts of their IT working on operations and also their business team to better execute strategy decisions, the company has said.
Meijer is first integrating QuantiSense tools into its merchandising staff and will then roll out the system to executive management reporting, consumer insight groups and supply chain services, the company said. The tools help staff by monitoring dashboards which evaluate performance data.
Meijer also currntly uses the QuantiSense Developing Your Playbook for technology and management consulting services.
EPA awards WhiteWave Foods for efforts to use and advance green energy
DENVER The U.S. Environmental Protection Agency named WhiteWave Foods the 2008 Green Power Leadership Award winner at an event held in conjunction with the 2008 National Renewable Energy Marketing Conference in Denver, Colo. This is the fifth time the company has been recognized as the leader in purchasing green power in an effort to increase the use of renewable energy.
WWFC started buying renewable energy credits in 2003 for the manufacturing of Silk Soymilk. Today, the company uses these sustainability practices for its Horizon Organic, International Delight and Land O’Lakes, as well as at its corporate headquarters. WWFC combines wind energy and recycling to reduce its carbon footprint. Its wind energy purchases have saved 450 million pounds of greenhouse gas emissions annually, the equivalent of taking 40,200 cars off the road for one year. It also developed a recycling and composting program in 2006 that resulted in the equivalent of saving more than 328,000 gallons of water and planting approximately 800 trees.
Silk and Horizon Organic spread awareness of the benefits of green energy through consumer promotions, messages on their packaging and through their Web sites. The two brands have also purchased Renewable Energy Certificates (RECs, or Green Tags) for the past three years to offset the electricity used to power the convention centers that host the annual natural and organic products trade shows. For the past two years, they did the same with the annual Farm Aid concerts. WWFC also “greened” the University of Colorado?s football stadium through recycling, composting, the promotion of alternative transportation and replacing the electricity with renewable energy.
“Our nation is shifting to a ‘green culture,’ with more and more Americans understanding that environmental responsibility is everyone’s responsibility,” said EPA Administrator Stephen Johnson. “The EPA commends WhiteWave Foods Company for making a long-term commitment to protecting the environment by purchasing green power.”