Woolies won’t stock new Coca-Cola No Sugar
- Australia’s largest supermarket has decided not to stock Coca-Cola Amatil’s (CCA) new no-sugar option.
- The supermarket giant has stated that consumers already have ample choice when it comes to low-sugar soft drinks, including Coke Zero, which CCA plans on phasing out in 2018 after cementing Coke No Sugar in the market.
- IBISWorld senior industry analyst Samuel Johnson said Woolies’ decision reflects increasing competition for soft-drink shelf space as water becomes more popular, but noted that the giant will likely change its tune once Coke Zero is phased out.
Metcash names former Tesco exec as CEO
- Food and grocery wholesaler Metcash has appointed former British supermarket giant Tesco executive Jeff Adams as its next CEO.
- Adams will step in to the four-year-role in December, succeeding Ian Morrice who in June announced his intention to retire after five years as chief executive, Metcash said on Tuesday.
- He will join Metcash in September, on a $1.8 million per year pay package plus possible bonuses, and will work with Ian Morrice, Metcash current CEO, for three months before formally starting in December.
China demand boosts A2 Milk sales expectations again
- A2 Milk Co has lifted annual sales guidance for the second time in as many months as it beefed up production to meet sweltering Chinese demand for infant formula.
- The Auckland-based, Sydney-headquartered milk marketer says revenue is expected to be $545 million in the 12 months ending June 30, a $20 million increase from its April update which was itself an upgrade. A2 reported annual revenue of $352.8m in 2016.
- A2 shares last traded at $3.56 and have jumped 67 per cent so far this year, outpacing the 9.2 per cent increase on the S&P/NZX 50 index over the same period.
Blackmores set to pluck new CEO from inside
- Departing Blackmores chief executive Christine Holgatesays an internal successor would be ideal as a motivating tool for the staff, the $1.5 billion vitamins company, and for stability after a rollercoaster ride.
- Two of the strongest internal candidates to take over as full-time chief executive when Ms Holgate officially departs at the end of September are David Fenlon, the Blackmores Australasian managing director, and Peter Osborne, Blackmores managing director for Asia.
- Ms Holgate said the final decision would be up to the board, but she would "have some input".
Treasury Wine Estates taps into rise of millennials
- Millennials have overtaken the Baby Boomers to become the second-largest segment for wine sales in Australia, prompting Penfolds owner Treasury Wine Estate to build a new brand from scratch to better target the younger drinkers.
- Treasury Wine Estates managing director for Australia and New Zealand, Angus McPherson said a new brand, Samuel Wynn & Co, has just hit the market in the Treasury portfolio and is deliberately designed to appeal to customers from 18 to 35.
- The biggest wine drinking segment was still the 35 to 54-year-olds. It represents about 36 per cent of total sales, just ahead of millennials at 34 per cent, and Baby Boomers at 30 per cent.