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Weekly Roundup, 23 May 2017

Published on May 23 2017 11:24 AM

Weekly Roundup, 23 May 2017

Campbell Soup has reported lower than expected quarterly sales and profit. Despite its higher promotions, it notes there is a weak demand for condensed soups. Campbell has warned that its full-year sales could also decline.

Packaging firm Smurfit Kappa has announced it is on its way to meeting its ‘ambitious’ 2020 sustainability goals, according to its tenth annual sustainability report.

The price of extra virgin olive oil has surged by almost a quarter this year as a result of drought conditions in the Mediterranean, reports the Financial Times. Reportedly the output in Greece, Italy, Tunisia and Spain is forecasted to 'fall sharply' this year, with global production expected to decrease by 14%.

A growing number of consumers (40%) said that they are choosing alcohol with lower Alcohol by Volume. It also reveals that half of consumers are reducing their alcohol intake, and 40% of those changing their habits are doing so out of health concerns. (Research from Kerry Taste and Nutrition)

Tesco is facing another potential legal challenge over its accounting scandal after lawyers called on retail investors to back fresh action against the supermarket chain. Rosenblatt Solicitors are urging action as they believe the current compensation package online by the financial watchdog is not enough. (Belfast Telegraph)

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