Dr Pepper Snapple reports profit down for 2Q
PLANO, Texas Dr Pepper Snapple Group has announced that its profit dropped 21 percent in the second quarter of 2008. Speculators say that the drop was most likely the result of the new company’s break from former parent Cadbury Schweppes.
According to the company, net income dropped from $136 million, or 54 cents per share, in the second quarter 2007 to $108 million, or 42 cents per share for the quarter ended June 30.
Not including the costs of restructuring and separation and other transactions, earnings were reported at 60 cents per share, the company said. In comparison the second quarter of 2007, revenue did rise 1 percent to $1.56 billion from $1.54 billion, after predictions that it would reach $1.58 billion. And, while higher prices may have steadied the loss from a drop-off in sales, coupled with a “challenging macroeconomic environment,” the higher prices were also the cause for the for the drop in volume, the company said.
Coke corrals curious NASCAR fans to loyalty site
ATLANTA Coca-Cola teamed up with and mobile service information company ChaCha to create a trivia campaign that led participants to the Coca-Cola loyalty Internet site, MyCokeRewards.com.
On the Jumbotron at the Brickyard race track in Indianapolis, prior to the Allstate 400 NASCAR race on July 27, Coca-Cola asked cellular phone users to text in trivia questions related to the race with the answers to be provided by the ChaCha service. Once a player received the answer via text message from ChaCha, he or she could then click to the MyCokeRewards Web site where the participant could view NASCAR prizes, such as hats and t-shirts available by redeeming Coke rewards points.
More than 100,000 trivia questions were received during the campaign, and of that total about 5.2 percent of cell phone users clicked through to MyCokeRewards.com, the companies said.
Coca-Cola and its marketing affiliates also said that they are now considering more ways to incorporate ChaCha and its text messaging services into the company’s marketing.
Kellogg reorganizes its management
BATTLE CREEK, Mich. Kellogg has announced many rearrangements in its managerial order of operations.
“These new assignments demonstrate the depth of our management bench and are part of our continuing commitment to growing talent from within the organization,” president and chief executive officer David Mackay stated. “The strength of our leadership team gives us great confidence in our ability to continue driving sustainable performance in a highly challenging environment.”
Starting with the promotion of Mark Baynes, formerly global chief marketing officer at Kellogg, to vice president and global chief marketing officer, the company has also moved Brad Davidson to the role of senior vice president and president of Kellogg North America; Paul Norman to Kellogg International senior vice president and president;; and John Bryant from executive vice president, chief financial officer and president of Kellogg North America, to the role of chief operating officer. In its international business, the company has moved Juan Pablo Villalobos, from his post as senior vice president and president of Kellogg Latin America to the job of senior vice president and president of U.S. Morning Foods; and the former chief financial officer of Kellogg Europe, Todd Penegor, will now take the reins as vice president of Kellogg and president of Kellogg U.S. Snacks.
The company also said executive vice president of Kellogg and president of Kellogg International, global innovation, and marketing and sales, Jeff Montie, has stepped down. According to Kellogg, all changes are effective immediately.