August 22, 2013 |
A coffee connoisseur may look for balanced flavors, acidity and proper brewing technique in their cup of Joe, but America's palate prefers a more simpler brew: Folgers. J.M. Smucker Co., the maker of Smucker's jam and Folgers coffee, reported Wednesday that volume of its U.S. retail coffee, which includes Folgers, increased 4% in the three-month quarter that ended July 31. The company said its U.S. retail coffee segment profit increased 16% to $19.6 million in the first fiscal quarter of 2014 compared to the same period a year earlier. Interactive feature: The great L.A. Coffee map Folgers, much to the chagrin of coffee snobs, is still the leading brand sold on the U.S. market, according to Bloomberg Businessweek . Folgers had an average market share of 15.6% in the U.S. from May to July. Starbucks, by comparison, had a 3.3% market share.
August 21, 2013 |
Rivals ShoeDazzle and JustFab, L.A. fashion websites that sell women's shoes, will merge after months of negotiations. The companies said the merger would create the world's largest fashion subscription e-commerce company, with more than $400 million in annual revenue and 33 million members. Financial details and other terms of the deal, announced Wednesday, were not disclosed. JustFab co-CEOs Adam Goldenberg and Don Ressler will keep their titles at the combined company, while ShoeDazzle CEO Brian Lee will become a member of the board of directors.
July 8, 2013 |
T-Mobile helped increase the iPhone's share of the smartphone market in the latest three-month period, according to a survey released Monday. Apple's U.S. smartphone market share increased 3.5 percentage points in the three months that ended in May from the same period last year, according to consumer research firm Kantar Worldpanel. The iPhone accounted for 41.9% of U.S. smartphone sales in the latest period, up from 38.4% a year before. That increase in market share aligns with the launch of the iPhone on T-Mobile, the last major U.S. carrier to begin selling the Apple smartphone.
July 5, 2013 |
Trucks and American brands have dominated U.S. auto sales through the first half of this year. Ford's F-Series truck remains the bestselling vehicle in America and will likely hold that top spot yet again this year after building a 125,000-vehicle lead over the next bestseller, the Chevrolet Silverado, during the first half of 2013. Thanks to the need to replace aging fleets in the recovering housing and construction industries, trucks made up three of the five bestselling vehicles so far this year.
June 19, 2013 |
Facing tougher price competition from a state-run marketplace, Aetna Inc. said it would exit California's individual health insurance market by year-end and leave nearly 50,000 customers searching for new coverage. Aetna, the nation's third-largest health insurer, will maintain a major presence in California with a focus on large and small employers. But the move reflects how the federal healthcare law and its rollout in different states is rapidly reshaping the health insurance landscape for millions of consumers.
June 18, 2013 |
Aetna Inc. said it would stop selling individual health insurance policies in California next month, and nearly 50,000 existing policyholders will have to find new coverage by January. The company's announcement Monday comes a month after it opted not to participate in California's new state-run insurance market for consumers, a key component of the new federal healthcare law. Aetna was a distant fourth in the state's individual health market with a 5.2% market share in 2011, according to Citigroup data.