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Campbell's earnings miss on low snack sales, shares fall
Food company Campbell’s fell below estimates last quarter as snack sales dropped, sending its shares down 7.1%. Net sales declined 5% year-over-year to US$2.56 billion in the quarter to 1 February, 1.63% below Zacks consensus estimates. Earnings per share were $0.51, down from $0.74 one year ago and missing estimates of $0.57. “Our core Meals & Beverages portfolio delivered in-market consumption growth in the second quarter, highlighted by the Rao’s brand surpassing $1 billion in trailing twelve-month net sales. Overall results, however, fell short of our expectations due to weaker-than-expected performance in Snacks and storm-related shipment disruptions,” said Campbell’s CEO Mick Beekhuizen. “To stabilise Snacks, we are taking decisive action, focused on sharpening our value, new product innovation and in-market execution. We are also accelerating cost saving initiatives to mitigate cost headwinds and support continued investment in our brands.” Meals & Beverages sales were $1.65 billion, falling from $1.68 billion one year ago. Snack sales dropped to $914 million, from $1.01 billion. The decrease in snack sales was largely driven by declining chips and pretzels sales, as well as supply constraints, the company sa
Food
The Founders: Staying energised the natural way
After years of working in law, Mark Curry noticed a need for a more calming and healthy alternative to energy drinks to keep busy people awake. This was how his business, Savvy Beverages, turned from a personal project to a booming business. Savvy Beverages specialises in nootropic beverages, which are a kind of functional drink filled with vitamins and superfoods to boost brain function, boost productivity and improve mental clarity without the crash of traditional energy drinks.A booming industryWhen he first started, Curry says Savvy Beverages was the only product of its kind in Australia. The nootropics trend was already gaining traction in the U.S. in Silicon Valley in 2016. “When I used to pitch in 2018 and 19, the thing I was talking about in terms of the functional food and beverage space was quite small as opposed to now,” he tells Azzet. “Now, things have blown up dramatically.” The global functional beverage market size was valued at US$175.5 billion in 2022 and expected to reach $339.6 billion in 2030. In Australia alone, the industry was worth around $17 billion in 2023 and expected to rise to $34.7 billion by 2030. While many people still aren’t aware of nootropics, Curry says it is an industry t
Food
Kraft Heinz pauses split, says issues are 'fixable'
Kraft Heinz has paused its plan to separate into two companies and will instead invest US$600 million into reviving its United States growth, saying many of its difficulties are “fixable”. The foods company announced the split in September, with one business focused on grocery products and the other on condiments. Kraft Heinz will invest into marketing, research and development, and select pricing, it said today. “Since joining the company, I have seen that the opportunity is larger than expected and that many of our challenges are fixable and within our control,” said Kraft Heinz CEO Steve Cahillane. Cahillane became CEO last month. “My number one priority is returning the business to profitable growth, which will require ensuring all resources are fully focused on the execution of our operating plan. As a result, we believe it is prudent to pause work related to the separation and we will no longer incur related dis-synergies this year.” The company had planned to complete the separation in the second half of 2026. Kraft Foods and the H.J. Heinz Company originally merged in 2015. Kraft Heinz’s sales fell by 3.5% year-over-year last quarter to $6.35 billion, it said today. This was below Zacks estimates of $6.42 bi
Food
Heineken to cut 6000 jobs; beer market faces downturn
Heineken has announced it will be axing up to 6000 jobs, as the beer market continues to struggle in "challenging market conditions". The brewing giant, which produces Heineken, Amstel and Tiger beers, said the cuts would come over the next two years, across brewing and white-collar roles. The cuts will equate to around 7% of its 87,000 workers worldwide. The latest earnings report saw that Heineken had a tough 2025, with total beer volumes declining 2.4% over the course of the year, and with a lower profit growth now forecast for the year ahead. "We remain prudent in our near-term expectations for beer market conditions," said Chief Executive Dolf van den Brink, who announced his resignation from his role with Heineken in January, and will step down in May.
Food
Coca-Cola revenues fall short; boosts key markets
Coca-Cola reported lower-than-expected quarterly revenues for the first time in five years. For the fourth quarter of 2025, the food and beverage company reported revenue growth of 2% to US$11.82 billion, but fell short of Wall Street’s $12.03 billion expectations. . Despite this, demand for its drinks in North America and Latin America is beginning to show improvements. Its volume in North America increased 1% and 2% in Latin America. However, when excluding transaction gains and other one-time items, Coke earned 58 cents per share, surpassing expectations of 56 cents per share. The company also reported net income attributable to shareholders of $2.27 billion, or 53 cents per share, up from last year’s $2.2 billion or 51 cents per share. Coke chairman and CEO, James Quincy, said the company’s performance in 2025 created strong momentum for 2026. “Looking ahead, we will focus on executing our strategy even better and positioning our system for long-term success,” he said. For the full year 2026, the company expects to deliver organic revenue growth of 4% to 5% Similar to rival PepsiCo, demand for Coke’s drinks has declined due to budget-conscious shoppers trying to save more on their grocery bills and di

Food
PepsiCo beats estimates, will cut prices
PepsiCo beat earnings and revenue estimates last quarter, and plans to lower prices this year to boost its growth. Revenue was up 5.6% to US$29.34 billion, and above LSEG estimates of $28.97 billion. Earnings per share rose 11% to $2.26, besting estimates of $2.24. “PepsiCo’s fourth quarter results reflected a sequential acceleration in reported and organic revenue growth, with improvements in both the North America and International businesses. Accelerated net revenue growth and strong productivity savings led to strong operating margin expansion and double-digit EPS growth in the fourth quarter,” said PepsiCo CEO Ramon Laguarta. “For fiscal 2026, we aim to accelerate growth by restaging large, global brands, introducing an expansive set of product innovation in emerging and functional spaces, and offering sharper value to address consumer affordability dynamics. We also aim to deliver a record year of productivity savings which will help fund investments to accelerate growth.” The company said it will cut prices on some products from brands like Lay’s, Tostito’s, Dorito’s, and Cheetos, and will relaunch brands like Gatorade and Quaker later in the year. Price cuts of as much as 15% have begun rolling out this week ah
Food
Starbucks sees traffic growth for first time in 2 years
Starbucks reports mixed results for Q1 2026, despite traffic growth for the first time in two years. The company’s CEO and chairman, Brian Niccol, said Starbucks’ Q1 results are thanks to its ‘Back to Starbucks’ strategy, which is working ahead of schedule. “It's great to see the sales momentum driven by more customers choosing Starbucks more often, and this is just the beginning,” he said. Global comparable store sales increased by 4%, driven by a 3% growth in comparable transactions and a 1% rise in average ticket. In the U.S alone, comparable store sales increased by 4%. Niccol said this was driven by demand for its holiday offerings, with this season's holiday menu launch being the best ever for the company’s North American business. The company also experienced a 7% growth in the Chinese market. During the quarter, Starbucks announced its plans to form a joint venture with Boyu Capital to run its business in China. “This partnership will help us expand into more cities, deliver exceptional coffee experiences, create new career opportunities for partners, and strengthen Starbucks’ position as a global brand for long-term growth,” Niccol said on the company’s earnings conference call. Starbucks’ revenue
Food
The Founders: Leveraging Aussie products
With Australian companies looking to enter the booming Asian market, RooLife prides itself on having the expertise to make this shift possible. The company has already helped multiple companies be successful in the Chinese market. CEO and managing director, Bryan Carr, says this has been possible through RooLife’s knowledge of what sells best and how the Chinese market differs from the West. “We're very well entrenched and understand the market,” he tells Azzet. “I think that's probably the advantage that we have, is that many businesses look to go into markets like China, but they take their Western or home market thinking.”How does China differ from the West?When transferring a business's services to the Chinese market, Carr says they typically have to start from ground zero with brand recognition. “What we've identified is that if there's a really well-known brand in Australia, and you take it to China, it may as well be a completely unknown brand,” he says. “You still have to do the same work, the same sort of trust and you know, market entry time requirements.” Due to this, Carr says when RooLife is propelling a company into the Chinese market, they often treat it like a brand-new company. “We operate
Food
Jim Beam pauses production at its main distillery
Bourbon maker Jim Beam will pause production at its distillery on 1 January for all of 2026, following rising inventory. In a statement, the company said it would close its distillery in Kentucky until it took the “opportunity to invest in site enhancements”. “We are always assessing production levels to best meet consumer demand and recently met with our team to discuss our volumes for 2026,” it said. The decision comes as whiskey distillers in the U.S. face uncertainty around President Donald Trump’s trade tariffs, as well as declining rates of alcohol consumption. Kentucky has a record high inventory of 16.1 million aging barrels of bourbon in its warehouse, according to the Kentucky Distillers Association. Distillers are paying for that supply, since the state charges taxes on aging barrels of spirits. According to the trade group, Kentucky distillers paid US$75 million in aging barrel taxes this year, an increase of 27% from 2024. While the Jim Beam distiller will pause for a year, its parent company, Suntory Global Spirits, will continue operations at its Fred B. Noe craft distillery in Clermont and Booker Noe distillery in Boston, Kentucky. “We are always assessing production levels to best meet cons