Nestlé is largely “immune” from the impact of tariffs, the company’s chief executive said, with the world’s largest food producer benefiting from its more localized manufacturing footprint. Laurent Freixe told reporters, it benefits from the fact that most of the products sold are manufactured in their respective markets. In the U.S., for example, Nestlé produces about 90% of what it sells domestically.
Pernod Ricard is reportedly exploring the sale of its champagne brand, GH Mumm, as it looks to shift its focus towards premium products in its portfolio, according to Reuters. The company has enlisted investment bank Rothschild & Co to assist with the potential divestiture, which could attract interest from other spirits and beverage companies.
Kennerley, who is currently the senior vice president and CFO for PepsiCo Europe, will join Kroger on 10 March in his new role. Meanwhile, Foley will continue as interim CFO through the end of Kroger’s fiscal year 2024 reporting cycle and remain a senior vice president, providing support during the transition until the end of the first quarter of fiscal 2025.
“Animal fat, butter, parmesan cheese, egg yolks, raw steak, and a few berries — these are the signifiers of ‘MAHA’ (Make America Healthy Again). Google Trends shows a big spike in interest in the ‘carnivore diet’ in just the last month, corresponding with Trump’s victory, would be my guess.”
Alcoholic drinks giant Diageo has scrapped its 5% to 7% medium-term guidance due to “macroeconomic and geopolitical uncertainty” as shares fell to their lowest since 2020. US President Donald Trump’s tariff plans were a key factor in its decision, with the company estimating a loss of US$200 million from its profits as a result.
