July 6, 2006 |
The canned tuna industry is swimming upstream, hurt by health warnings of mercury contamination and a perception that its product is just plain boring. Now the major players are renewing efforts to hook customers. Canned tuna producers are promoting the fish as a low-fat protein, laden in omega-3 fatty acids that are believed to benefit the heart. They're trotting out new advertising.
August 31, 2007 |
Del Monte Foods Co., maker of Meow Mix cat food, StarKist tuna and canned fruit, posted a smaller-than-expected drop in profit as it offset higher raw material and fuel costs with strong pet food and fruit sales and with price hikes. Del Monte, like other food companies, has been squeezed by higher corn costs from a surge in ethanol production, but increased prices have helped to offset those pressures. Earnings for the fiscal first quarter that ended July 29 fell to $3.
January 31, 1998
The World Trade Organization, in a final ruling, rejected Eastman Kodak Co.'s claim that Japan rigged its market for photographic film to shield Tokyo-based Fuji Photo Film Co. from foreign competition. The U.S. argued Kodak's claim that it has lost an estimated $8 billion in sales since 1975 because of Fuji's lock on Japan's major photographic distributors.
November 30, 2007 |
Del Monte Foods Co. posted a lower-than-expected quarterly profit and cut its full-year earnings forecast because of soaring costs for ingredients such as wheat, corn and fish. The news sent the San Francisco company's stock down more than 6%. The maker of Del Monte canned vegetables, Meow Mix cat food and StarKist tuna said profit was $25.9 million, or 13 cents a share, in its fiscal second quarter ended Oct. 28, compared with $23.2 million, or 11 cents, a year earlier.
June 25, 2004 |
Del Monte Foods Co., the nation's largest maker of canned fruits and vegetables, said Thursday that its profit more than doubled in its fiscal fourth quarter but that its first-quarter earnings would be lower than last year because of higher energy costs and commodity prices. Shares of the San Francisco-based firm fell 8.6% on the news, closing at $10.06 on the New York Stock Exchange. Net income in the quarter ending Aug.
June 1, 1992 |
Del Monte Offer Reported Near: Del Monte Foods, the century-old food-processing company that has had two owners in as many years, may be sold again. Italian financier Sergio Cragnotti is said to be considering a cash offer of $300 million and would also assume about $500 million of the company's debt, the San Francisco Chronicle reported. The paper quoted a source familiar with Del Monte as saying that negotiations are underway and a public stock offering might be made.