foodbeverage
Cracker Barrel Old Country Store Inc (NASDAQ: CBRL) is down 20% after announcing a massive cut to its dividend on Friday. Cramer has confidence in $CBRL chief executiveThe chain of restaurants and gift stores trimmed its dividend by a whopping 80% to 25 cents a share this morning. Still, famed investor Jim Cramer is all praise for Julie Felss Masino – the chief executive of Cracker Barrel. On CNBC’s “Squawk on the Street”, he said today: She’s going to fix it. They had to slash the dividend because they needed to reapply that money to be able to make the stores look better. She’s going to rein...
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Edible Garden AG Inc (NASDAQ: EDBL) nearly doubled in premarket on Wednesday after reporting a significantly year-over-year increase in its first-quarter revenue. Edible Garden CEO on Q1 earningsThe organic food company saw its revenue come in at $3.1 million in Q1 that translates to a near 28% increase versus last year. $EDBL attributed the strength to customer demand and expansion of its product lineup. Jim Kras – the chief executive of Edible Garden said in a press release today: Our transition away from third-party growers has accelerated, with Edible Garden now producing approximately 95%...
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Beyond Meat (NASDAQ: BYND) stock price has been in a strong bull run as it surged by 40% between April 25th and May 6th. It then suffered a harsh reversal on Wednesday after the company published weak financial results. It tumbled to a low of $7.12, down by 13.4% from its highest point this month. The plant-based meat industry is strugglingBeyond Meat is one of the top disruptors in the food industry. It is the biggest player in the plant-based industry, which some analysts believe to be the future of food. A study by Grand View Research showed that the industry’s market size was valued at $4....
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Remy Cointreau (EPA: RCO) share price has sold-off in the past few years as it continued to underperform its top competitors. It has slumped by over 40% in the past 12 months, lagging behind its top peers like Campari, Brown-Forman, and Pernard Rickard. This performance has continued this year as it dropped by over 20% while Campari and Pernod Ricard have dropped by less than 10%. Brown-Forman has slumped by over 10%, as shown below. Remy Cointreau vs Campari vs Pernod Ricard vs Brown-Forman Weak sales and geopolitical risksRemy Cointreau is one of the biggest players in luxury alcoholic brand...
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Heineken has announced a substantial £39 million investment plan to refurbish and reopen numerous pubs across the UK under its Star Pubs & Bars chain, signaling a robust revival in the sector and the creation of more than 1,000 new jobs. Heineken’s refurbishments to revive local pubsAs part of its commitment to rejuvenate its network, Heineken plans to renovate over 600 pubs, approximately a quarter of its 2,400-strong chain. This decision aligns with changing consumer behaviors, notably the decrease in city-center commutes, as more people work from home and look to minimize travel expenses. T...
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The Hershey Company (NYSE: HSY) recently reported its Q1 2024 earnings, surpassing both top and bottom-line estimates. With a Non-GAAP EPS of $3.07, exceeding expectations by $0.31, and a revenue of $3.25 billion marking an 8.7% year-over-year increase, Hershey has demonstrated robust performance in the face of evolving economic conditions and high cocoa prices. The company’s organic, constant currency net sales also witnessed an impressive 8.6% growth, reaffirming its position as a stalwart in the confectionery industry. However, during the Q1 earnings release the company disappointed analyst...
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Celsius Holding’s (NASDAQ: CELH) stock price has lost its momentum recently. It has crashed from the year-to-date high of $99.50 to the current $74.40. Still, despite the pullback, it is one of the best-performing companies in Wall Street as it soared by over 11,000% from its lowest level in 2020. The case for Celsius HoldingsThere are several reasons why the Celsius Holdings stock price will likely continue rising after releasing its earnings report on Monday. First, there are signs that the energy drink industry is doing well. On Thursday, Monster Beverage, its rival, said that its revenue r...
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Chocolate makers the Hershey company reported its Q1 results for 2024 ahead of markets opening in the US today. The results showed an uptick in sales, income and earnings per share, compared with both Q1 and Q4 of 2023. The cocoa priceThis likely reflected the fact that companies like Hershey and Mondelez (the maker of Cadbury’s, who reported results earlier this week), have now largely recovered from the historically high cocoa prices experienced earlier this year, and that this plus Easter chocolate sales provided a boost to profits, compared with Q4 earnings. Read our analyst’s cocoa price ...
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Jim Cramer seems to have lost conviction in Laxman Narasimhan – the chief executive of Starbucks Corp (NASDAQ: SBUX) after a “terrible” quarter the coffee giant reported last night. What Cramer said after interview with Starbucks CEOThe famed investor asked Narasimhan for a reason why his Charitable Trust should hold $SBUX for another quarter in an interview on Wednesday. And while the chief executive did say he has a plan aimed at meaningful improvement from here on out – Cramer evidently is not convinced. It’s difficult to come on air and say things are good. I would have called for more of ...
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Starbucks Corporation (NASDAQ: SBUX) has reported a revenue miss in its Q1 2024 earnings report, disappointing investors and causing the SBUX stock price to drop by over 10% in the market after hours. The company’s consolidated net revenues for the quarter were down 2% to $8.6 billion, falling short of market expectations. The decline was attributed to a challenging operating environment faced by the coffee giant. Starbucks performs poorly in Q1Despite active U.S. Starbucks (SBUX) Rewards Membership increasing by 6% over the prior year, global comparable store sales experienced a 4% decline, d...
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