Cadbury Says Annual Results to Be at Low End of Range
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Cadbury Schweppes Plc, the maker of 7Up and Dr Pepper, said 2004 earnings will be at the low end of forecasts as demand in the US and Europe stagnates, days after Coca-Cola Co.
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Cadbury Schweppes Plc , the world's largest confectionery group, plans to cut 7,500 jobs and close around nine plants as it seeks to catch up with the profitability of U.S. rivals after the sale of its drinks arm.
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Cadbury Schweppes said trading at its beverage business had been weaker than expected during the US and European summer with sales of fizzy drinks hit by poor weather.
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Struggling UK supermarket chain Sainsbury's issues its third profit warning of the year, saying half-year profits are set to fall to as little as Â£125m.
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Anheuser-Busch Cos. Inc.  said on Tuesday it expects its international beer operations to post lower profit this year, hurt by a U.K. shift in sales from bars and restaurants to less profitable sales through retailers.
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The company also said that its Home Shopping Network and lending profits fell short of internal targets.
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Cadbury Schweppes, the confectionery to soft drinks group, followed rivals such as Unilever and Coca-Cola yesterday in admitting the poor summer had taken its toll on its sales, knocking its shares.
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Soft-drink giant Coca-Cola Co. warned Wednesday that third-quarter and second-half results will fall short of expectations because of soft sales.
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The doughnut chain reported sharply lower quarterly  earnings on Thursday that missed Wall Street's expectations as  it tries to overhaul operations after being battered by popular  low-carbohydrate diets. Its shares closed at $15.36 on the New  York Stock Exchange.
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Applebee's sees slowing growth for 2005.
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Coca-Cola warned that its earnings will fall short of forecasts, pointing to competition in North America and poor weather in Europe.
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Coca-Cola Enterprises Inc. CCE.N, the  world's largest bottler of Coca-Cola soft drinks, on Thursday  forecast its earnings in 2005 would be at the lower end of the  range of analyst forecasts, and its shares fell.
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Royal Ahold, the Dutch owner of grocery chains including Stop & Shop in the United States, said first-quarter earnings and sales were down slightly as a result of worse margins and a weaker dollar. Net profit was 237 million euros ($320 million), down from 239 million euros a year earlier. Sales slipped to 13.2 billion euros ($17.8 billion), from 13.3 billion euros.
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Business & money: Electrical goods retailer says annual profit will miss forecasts by as much as Â£50m after poor Christmas
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Tooth decay among children is at its lowest recorded level since 1983, figures show.
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Confectionery and soft drinks giant Cadbury Schweppes has said that net profit jumped 50 percent in 2006 to 1.165 billion pounds following the sale of its Europe Beverages business.
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Britain's Cadbury Schweppes Plc  on Tuesday reported a 2 percent dip in 2007 profits but added it was encouraged by the good trading momentum it had seen in the new year and saw margin improvement in 2008.