Heineken will invest over $2.7 bln in Mexico through 2028
Oriol Bonaclocha said during the president's morning press conference that the investment will include the construction of a new factory in the country's southeast.
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Libya Herald
2 days ago
- Libya Herald
Attempt to smuggle alcoholic drinks thwarted by customs at Misrata Free Zone
Libya's Customs Authority reported last Sunday (10 August) that the Misrata Free Zone Customs Centre successfully prevented the smuggling of a large container (45 feet) containing undeclared goods. This came after the local company representative failed to provide customs declaration documents, requesting only re-exportation. The container, originating from Europe and passing through several Arab ports, was headed to an African country. A thorough inspection revealed 3,100 cartons of prohibited alcoholic beverages (330 ml cans, 5% alcohol). The beer was the Heineken brand. The Public Prosecution Office was promptly notified and has taken legal action. The Libyan Customs Authority commended ''the vigilance and dedication of its staff, urging continued patriotic efforts to safeguard national security and resources''. Libya permits the import and sale of zero percent beer brands from all over the world. However, alcoholic drinks, unlike neighbouring Tunisia or Egypt, for example, are still strictly prohibited – officially at least.
Reuters
3 days ago
- Reuters
Carlsberg half-year profits miss expectations, warns of tough year
LONDON, Aug 14 (Reuters) - Carlsberg ( opens new tab missed half-year profit and volume forecasts on Thursday and warned it did not expect the consumer environment to improve in the rest of 2025, sending the Danish brewer's shares down 6% in early trading. The latest report by the world's third-largest brewer - behind Anheuser-Busch InBev ( opens new tab and Heineken ( opens new tab - was received with similar pessimism to those of its rivals in recent weeks as investors sent shares declining. While Carlsberg, which makes Kronenbourg 1664, Tuborg and Somersby, raised the bottom end of its annual profit guidance, that did not offset slower-than-expected first-half operating profit growth of 2.3%, and a 1.7% decline in volumes. CEO Jacob Aarup-Andersen said on a media call that the brewer's performance was strong in a difficult year, and that it anticipated slightly better volume growth in the second half. Still, he wasn't optimistic on consumer spending, which was being reined in by price increases and uncertainty, adding: "There is no indication as we move into the second half that that's going to change." Big brewers have been battling reduced demand, the impact of U.S. tariffs and poor weather, and their weak performance or volume expectations have left investors fretting over growth prospects. Carlsberg now expects annual operating profit growth of 3% to 5%, compared with 1% to 5% before. However, analysts already expected 4% growth, according to Edward Mundy, analyst at Jefferies, so this change did not significantly move the needle. "Carlsberg has continued the trend set by ABI and Heineken of underwhelming H1 results," said James Edwardes Jones, analyst at RBC Capital Markets, adding Carlsberg's performance in Asia was weak. China is Carlsberg's largest market. Half-year operating profit was 7.23 billion Danish crowns ($1.13 billion), against analyst expectations for 7.35 billion crowns. ($1 = 6.3777 Danish crowns)
Reuters
07-08-2025
- Reuters
Wary of sticker shock, retailers clash with brands on price hikes
LONDON, Aug 7 (Reuters) - Caught between rising costs from tariffs and belt-tightening consumers, big retailers are clashing with the producers of consumer brands such as Nivea-maker Beiersdorf ( opens new tab and brewer Heineken ( opens new tab, as they look to avoid sticker shock that could hurt sales. The disputes - which have dented some brands' sales - underscore the challenge for consumer goods makers and sellers, with inflation and tariffs pushing up input costs and price spikes in commodities such as coffee. While pricing talks have never been easy, tariffs are escalating already high food inflation since the pandemic, making grocery bills more contentious and political as consumers grapple with a cost-of-living crisis. "We all should be very well aware of consumer budgets," Frans Muller, CEO of supermarket company Ahold Delhaize ( opens new tab, which owns U.S. chains Food Lion, Hannaford, and Stop & Shop, told Reuters on Wednesday. He said conversations with consumer goods companies over pricing were "tight," adding that the industry's focus was on increasing sales volumes rather than increasing revenue by hiking prices. "That is the wrong way of supporting customers and the wrong way of growing the business itself." Ahold has in-house teams that track commodity, energy, and labour costs, and own-brand products it can compare with to establish whether price increases demanded by consumer brands are justified or not, Muller said. On the other side of the equation are the brands, facing higher costs that are squeezing margins. Beiersdorf CEO Vincent Warnery said on Wednesday that retailers in key markets, including Germany and France, had pushed back strongly in price talks last quarter, not only refusing price increases but asking for price reductions, and pulling products from shelves. Beiersdorf eventually agreed to a 2.6% rise, Warnery said, but delistings of some products by retailers knocked two percentage points off its sales growth in Europe in the second quarter. "There will be a lot of price changes pushed forward by consumer brands, some will be accepted by retailers and some will not," said Bobby Gibbs, a Dallas-based partner at Oliver Wyman who advises retailers and consumer goods firms. Manufacturers will find it easier to push higher prices through on products where there is brand loyalty and fewer strong private label alternatives, Gibbs said. Reuters' global tariff tracker shows at least 102 out of nearly 300 companies monitored by the tracker have announced price hikes in response to the trade war, with about 41 of them in the consumer sector. As well as tariffs, other factors like the cost of capital and labour, and commodity prices in the case of coffee and chocolate, are pushing prices up on certain products, Gibbs said. Trump has said the tariffs counter persistent U.S. trade imbalances and declining U.S. manufacturing power, and that the moves will bring jobs and investment to the nation. More price hikes are planned, particularly in the U.S. Tide detergent maker Procter & Gamble (PG.N), opens new tab last week said it was raising prices on about a quarter of its products in the U.S. by a mid-single-digit percentage as part of efforts to mitigate the cost of higher tariffs on imported goods. That will affect pricing at Walmart (WMT.N), opens new tab, Target (TGT.N), opens new tab, and other stores. As talks heat up, more retailers could pull branded products temporarily as a negotiating tactic, as Ahold's Albert Heijn chain did this year in a dispute over price hikes by coffee roaster JDE Peet's. Dutch brewer Heineken ( opens new tab last week said its beer sales were dented by a price dispute with European retailers. "Many retailers are getting more sophisticated in how they can measure product switching ... so they're willing to be bolder on delistings because they're able to protect sales and margin more than they would have in the past," said Gibbs. In Europe, retailers are joining forces to increase their clout in pricing talks. Carrefour ( opens new tab said last month it had created a new European buying alliance called Concordis, along with rival group Coopérative U, and is in advanced discussions with other European retailers to expand the alliance. Supermarkets are developing more own-brand alternatives to big-name brands. Ahold has introduced 300 new own-brand products this year in its U.S. chains, and sales growth in those has outpaced the rest of the store, it said. Big brands have taken note, with P&G's Chief Financial Officer Andre Schulten saying last week that retailers have been implementing "more aggressive pricing" on own-brand products. "We see some level of pressure to drive trade down because of price promotional behaviour," he said, referring to consumers swapping to lower-priced products, adding the market would remain "volatile and challenging".
