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Consumer Sector Update: March 10th, 2011
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Consumer Sector Update: March 10th, 2011
Consumer shares are down in mid-day trading while Green Mountain Coffee Roasters (GMCR) jumps on a deal with Starbucks (SBUX). Starbucks says it will produce and sell its coffee and its Tazo brand tea via GMCR’s K-Cup portion packs for use in the Keurig single-cup brewing system. The move is in line with the Seattle chain's strategy to expand the reach of its single-cup coffee selections. Last year, SBUX introduced Via Ready Brew single-cup coffee. Meanwhile, Smithfield Foods (SFD) reported 2011 Q3 adjusted EPS of $0.84, up sharply from the year-ago period and handily beating the Thomson Reuters mean analyst estimate for $0.66. Sales rose 10% to $3.2 billion, in line with the Street view.
Video Length: 0
Date Found: March 20, 2011
Date Produced: March 20, 2011
View Count: 0
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