Wednesday, April 7, 2010 as of 11:14 AM ET
Heinz (NYSE:HNZ) cooked up better-than-expected fourth-quarter profit on Thursday, led by double-digit growth in emerging markets and steady demand for Ketchup, however sales fell short of expectations.
The Pittsburgh-based food giant also raised its annual dividend by 14 cents, or 7.3%, a share to $2.06. However, its share slipped more than 2% early in the session on higher costs that softened its operating margins.In a statement, Heinz CEO William Johnson said the quarterly profit beat was supported by "increased investments in marketing, productivity and emerging markets capabilities."The company increased promotional spending by 7.7% during the quarter and saw higher commodity costs, which caused gross margin to slip 150 points to 34.8%.Heinz also forecast earnings for the fiscal year whose midpoint was below Wall Street expectations. The company sees earnings for fiscal 2013 in the range of $3.52 to $3.62 a share, while analysts are looking for $3.59.The maker of packaged foods and...Led by continued expansion in emerging markets and higher global sales of ketchup, HJ Heinz (NYSE:HNZ) revealed on Tuesday a stronger-than-expected first-quarter pro...
H.J. Heinz CEO William Johnson on the impact of rising commodity prices and the company’s diversification.
H.J. Heinz CEO William Johnson the company's partnership with Coca-Cola on a new bottle and the political instability in the Middle East and how it affects business.
FBN's Shibani Joshi on the rise in oil prices due to unrest in the Middle East.
In a joint announcement Wednesday, Coca-Cola Co. (NYSE:KO) and H.J. Heinz Co. (NYSE:HNZ) revealed plans for Heinz to produce its ketchup bottles using Coca-Cola's Pl...
(Rewrites throughout with CEO comments on the economy)By Brad DorfmanCHICAGO (Reuters) - H.J. Heinz Co Chief Executive William Johnson said the global economy was in...
* Shares up 0.8 percent to $46.48 (Clarifies that forecast is on a constant-currency basis)CHICAGO (Reuters) - U.S. food maker H.J. Heinz Co said quarterly earnings ...
CHICAGO (Reuters) - H.J. Heinz Co forecast a 10 percent increase in quarterly profit from continuing operations, helped by sales growth in emerging markets Tuesday.T...
H.J. Heinz (HNZ) inked a $165 million all-cash deal on Monday to acquire soy-sauce maker Foodstar in an effort to extend the company's reach in fast-growing China .B...
Johnson on Economy
("Heinz's Latest Import: A 99-Cent Ketchup Pouch," published at 12:21 p.m. EST, misstated the country that the Triple Double Oreo came from in the 12th paragraph. Th...
BOCA RATON, Fla. -( Dow Jones )- H.J. Heinz Co. (HNZ) will discontinue T.G.I. Friday's frozen single-serve entrees and multiserve meals, whose sales have suffered as...
H.J. Heinz CEO William Johnson on the company’s strong growth in emerging markets.
FBN's Cheryl Casone breaks down stocks moving the markets today.
Fueled by strong emerging market sales, ketchup maker H.J. Heinz (NYSE:HNZ) beat the Street on Friday with a 4% rise in fiscal third-quarter earnings.The Pittsburgh-...
H. J. Heinz (NYSE:HNZ) disclosed on Friday a 5.7% slide in fiscal second-quarter profits amid sluggish North American sales, but the ketchup maker’s profits exceeded...
H.J. Heinz Co is adapting to a more difficult operating environment by closing more factories around the world and offering cheaper products in the United States.The...
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