CENTER STORE

Nestle says it will keep its prices steady

BY Jenna Duncan

VEVEY, Switzerland Due to a price ceiling hit by rising costs of commodities, Swiss food maker Nestle will most likely not raise prices of its products any higher in the near term, the company’s chairman said Sunday.

“You are now seeing the impact of price increases which were done some months ago,” Peter Brabeck-Letmathe, Nestle S.A. chairman, said to Dow Jones Newswires. “I would expect [the rising costs of foods] to flatten out over the next several months and not increase anymore as our costs have come down.”

Brabeck-Letmathe was in Malaysia attending the World Economic Forum on East Asia. He said “the worst is probably past” for surges in the costs of raw ingredients such as milk, coffee, salt and cocoa.

Brabeck-Letmathe also said that his company will probably not make any acquisitions any time soon because there aren’t many attractive deals in the horizon. He also reported that Nestle doesn’t have a firm decision to sell its 29 percent hold in L’Oreal, however, it may review the idea some time next year.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
CENTER STORE

Nonni’s Biscotti hopes to sweeten up cookie aisle with new flavors

BY Jenna Duncan

TULSA, Okla. Nonni’s Food Co., the maker of Nonni’s Biscotti, has announced the launch of two new biscotti flavors; caramel latte and mint cioccolati. The company said that it hopes to further growth in the cookie aisle.

Matt Duffy, Nonni’s marketing manager said in a release, “Due to unprecedented growth and consumer demand, Nonni’s Biscotti is expanding our line to include these delicious new flavors. Although cookie category sales have been generally flat for the past three years, Nonni’s Biscotti continues to generate phenomenal sales. The continued success of Nonni’s Biscotti is a result of our ongoing dialogue with the consumer, which helps us anticipate and meet their needs for flavor, portability and taste.”

Nielsen reported that Nonni’s Biscotti sales were up 38 percent in 2007 which reportedly accounted for 85 percent of the total growth in biscotti sales. The company said it expects sales to increase even further in 2008.

In addition to Nonni’s Biscotti, Nonni’s Food Co. also has New York Style brand pita chips and bagel chips and Old London melba toast snack crackers. Nonni’s products can be found at select grocers and premium food retailers.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
CENTER STORE

Hershey to sponsor Batman-themed sweepstakes

BY Alaric DeArment

NEW YORK Contestants in a Hershey sweepstakes beginning July 18 will have a chance to win a Batman motorcycle.

The grand prize in the “Find the Bat-Signal and Win” sweepstakes is an MV Agusta F4, hand-built in Italy, has a black paint job and a Batman silhouette, and is worth $35,000. Runners-up will get $4,000 Panasonic home theater systems and $500 Joker Henchman masks.

Hershey will begin selling Batman-themed Reese’s cups and Kit Kat bars. Contestants who find the Bat Signal printed on the inside wrappers of the Reese’s and Kit Kat candies will win instantly.

The odds of winning the grand prize are one out of 13.93 million, according to Hershey.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?