Campbell Soup announced Friday, chief Denise Morrison has stepped down and the company is looking into the possible sell of some its brands. The move comes as the companies’ bet on fresher foods failed to revive sales. Sales of the company’s core business declined every year of Ms. Morrison’s seven- year tenure, except one. Efforts to enter in the fast-growing fresh food business hit their own hurdles and failed to add much needed value to the companies bottom line. Shares of the company fell 12% on Friday after the company reported worse-than- expected earnings and lowered its guidance for this year.
Discount retailer Walmart is testing an online personal shopping service. Called Jetblack, the service is designed to give product recommendations and let users make purchases through text messages. Currently the service is being beta tested on “busy NYC moms”. The new service has been described as a members-only shopping and concierge service which combines the convenience of e-commerce with the customized attention of a personal assistant. The retailing giant hired cofounder of Rent the Runway, Jennifer Fleiss to help oversee the start up last year. Jetblack is the latest punch in Walmart’s battle with online giant Amazon.
Asia: Asian shares closed higher as trade war tensions seemed to ease a bit.
Europe: European markets closed lower on Friday as investor concern over geopolitics and trade intensified.
U.S: U.S stocks closed mostly lower on Friday as investors remain uncertain about the effect of interest rates and global trade issues. DJIA: +1.11 24,715.09 Nasdaq: -28.13 7354.34 S&P: -7.16 2712.97
Word of the Day:
A statistical technique used to even out periodic swings in statistics or movements in supply and demand related to changing seasons.
Dinner or Drink:
Limoncello Citrus Sangria
- 1 Orange
- 1 Pink Grapefruit
- 2 lemons
- 750 ml bottle chilled white wine (I used Sauvignon Blanc)
- 1½ cups Limoncello
- 3 cups sparkling water or sparkling wine
Clean the orange, grapefruit and lemons thoroughly then cut into ¼ inch thick slices.
In a large pitcher combine white wine, sliced citrus and limoncello. Refrigerate at least 4 hours or overnight.
When ready to serve, stir in the sparking sparkling water (or sparkling wine). Pour into individual glasses. If desired, garnish glasses with sliced fruit from the pitcher.
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