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Sobeys Q1 Sales Up Slightly, Hurt by Tobacco Sales Slump
STELLARTON, N.S. -- Sobeys, Inc. here yesterday reported a 1.1 percent sales increase for its first quarter ended Aug. 5 of CAN $3.31 billion (US $2.95 billion), compared with $3.27 billion in the year-ago period. During the quarter, same-store sales went up 2.8 percent, and basic net earnings per share were 77 cents, a 4.1 percent rise from last year. -
Kraft Shuffles Key Management for 'More Creative' Strategy
NORTHFIELD, Ill. -- Kraft Foods, Inc. said yesterday that it's realigning top management to sharpen its focus on innovation and marketing. The shakeup comes from the leading manufacturer's new c.e.o., Irene Rosenfeld, who replaced c.e.o. Roger Deromedi in June.