CCA is hit after spending fizzles out

Glenda Kwek February 19, 2013 The Age Coca-Cola Amatil has reported a net profit of $459.9 million for the 2012 financial year – a 22.3 per cent drop from the year before – as it deals with weak consumer spending and the high Australian dollar. The beverages supplier recorded total trading revenue of $5.1 billion for 2012, an increase of 6.2 per cent from the year before. The net profit before significant items of $558.4 million was up five per cent from $532 million in the prior corresponding period, in line with the company’s previous forecasts. “Given the difficult trading conditions experienced throughout the year, [Coca-Cola Amatil] has delivered another excellent result with 5.0 per cent growth in net profit [before significant items] to $558.4 million,” managing director Terry Davis said. “The stand-out performer was once again Indonesia & PNG with double-digit volume and earnings growth while Australia delivered solid…

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7-Eleven Named Top 10 Most Innovative Company in Retail

Feb 18, 2013 CSNews DALLAS – Technology magazine Fast Company named 7-Eleven Inc. as one of “The World’s Top 10 Most Innovative Companies.” Ranked third on the list, 7-Eleven was chosen for its ability to “localize and compartmentalize its stores.” “The brand’s partnership with Amazon allows users to have small packages delivered to stores rather than their homes. In 2012, that partnership expanded to five areas globally: New York, Seattle, [Washington], D.C., Silicon Valley and London,” wrote the magazine’s staff. As CSNews Online previously reported, Amazon began its in-store pickup trial in 7-Eleven locations in Seattle, New York state and near Washington, D.C., in September 2011. The system allows customers to use computerized lockers at 7-Eleven stores as temporary P.O. boxes. When packages arrive, customers will receive an e-mail with a bar code that can be printed or scanned from their phones at the store to reveal a PIN, which…

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NZ to follow on plain packaging for cigarettes

Dan Harrison February 20, 2013 The Age NEW Zealand will follow Australia’s lead in forcing cigarette makers to sell their products in plain packs. The country’s Associate Health Minister Tariana Turia announced on Tuesday that she would introduce legislation to standardise the colour and design of cigarette packets and require more prominent health warnings before the end of the year. The proposals are expected to receive the support of most parties in the Parliament, but Mrs Turia said the government could delay enacting the laws until legal challenges to Australia’s plain-packaging laws had concluded. The Dominican Republic, Honduras and Ukraine have launched challenges to the laws in the World Trade Organisation and tobacco company Philip Morris International has launched a separate challenge through international arbitration, claiming the laws breach Australia’s investment treaty with Hong Kong. Last August, the High Court rejected a challenge from tobacco companies that argued the laws…

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Top-ranking innovators challenge tired retail models

Michael Baker February 20, 2013 The Age Each year, Fast Company, a business media company founded by two former Harvard Business Review editors, puts out its list of the world’s 50 most innovative companies. The 2013 list includes four retailers in the Top 10 – Nike at number 1, Amazon at number 2, Fab at number 5 and Target (the US retailer, no relation to Australia’s Target) at number 10. Other retailers pepper the remaining 40 places in the Top 50. Technology is turning the retail sector upside down. And for traditional retailers there is an ominous message. The prominence of retailers in a list of cutting-edge innovators is no coincidence. Technology is turning the sector upside down. And for traditional retailers there is an ominous message from this list – very few of the retailers that appear on it are mainstream. This suggests that despite significant investments in technology…

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Free-range claims under ACCC scrutiny

JOHN ROLFE February 21, 2013 News Limited Network THE ACCC will today declare open season on “free range” and other claims made by premium food makers. In a major speech in Sydney, Australian Competition and Consumer Commission chairman Rod Sims will announce the ACCC’s seven priority areas for 2013. Many are the same as last year, but Mr Sims will say that “new to our priorities is an interest in credence claims, particularly those in the food industry”. Notes for his speech to the Committee for Economic Development of Australia say: “Consumers are increasingly placing weight on premium claims made by producers that a consumer cannot test or validate. “They are in the hands of the producer, leading to a particular vulnerability.” Mr Sims will highlight the ACCC’s ongoing concerns about “free range” eggs, country of origin claims and the labelling of olive oil. In November, the ACCC said it…

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Europe horsemeat scandal spreads to Asia

Abhik Kumar Chanda February 21, 2013 AAP EUROPE’S horsemeat scandal spread on Wednesday to Asia where an imported lasagne brand was pulled from the shelves in Hong Kong, as Czech officials ordered similar action on frozen meals mislabelled “beef”. A host of top players have been caught up in the spiralling scandal including Nestle, the world’s biggest food company, top beef producer JBS of Brazil and British supermarket chain Tesco. Hong Kong authorities ordered ParknShop, one of the biggest supermarket chains in the city, to remove lasagne made by frozen food giant Findus, one of the firms at the centre of the scandal. The product was imported from Britain and made by French firm Comigel. Hong Kong’s Centre for Food Safety said the item “might be adulterated with horsemeat which has not undergone tests for veterinary drugs”. “The product was removed from our stores last week following the government’s instructions,”…

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