FMCG

Hormel raises adjusted earnings forecasts despite weaker retail sales, declining international performance and continued pressure on the consumer environment.

The packaged foods maker expects a smaller annual sales decline after coffee and Uncrustables growth helped lift first-quarter revenue and earnings above analyst expectations.

The food giant is increasing investments to $700 million as it targets improved sales performance and earnings under CEO Steve Cahillane’s turnaround strategy.

Nestlé Nigeria recorded its seventh consecutive profitable quarter while strengthening its balance sheet and advancing plans for a new water business joint venture.

McCormick has outlined its post-merger leadership, business divisions and London listing plans as it advances its proposed acquisition of Unilever’s Foods business.