Kraft Foods Inc. reported a quarterly earnings jump of 9.8% last month thanks to higher shipments and savings from its acquisition of cookie maker Nabisco. The nation’s largest food company posted fourth-quarter earnings of $876 million, or 51 cents a share, up from $798 million, or 46 cents, a year earlier.
WWFE to Freeze
The American Frozen Food Institute (AFFI) is joining the Worldwide Food Expo 2003, which will be held Oct. 29-Nov. 1 at McCormick Place in Chicago. AFFI joins the International Bottled Water Association whose sponsorship was announced last fall, as the newest co-sponsor of Expo for the ’03 event.
Fat Suit Dismissed
A U.S. District Court Judge has thrown out a lawsuit that blamed McDonald’s for causing a group of New York children to become obese. The judge ruled that the plaintiffs should have realized that eating “copious amounts” of McDonald’s food would make them obese.
Morningstar Honored
Morningstar Foods, a subsidiary of Dean Foods Company was recently named by Progressive Grocer magazine as the publication's 2002 Best of Class Category Captain award winner for the dairy category. The Dallas-based food processor was one of 13 U.S. manufacturers recognized as being champions in their specific food categories, thanks to its category management expertise related to both branded and private-label products, the magazine's editor said.
