Consumer Biz Recap: Wal-Mart’s Strategy, Kraft Shareholders Approve
Shares of Diamond Foods (NASDAQ:DMND) spike then fall back, following word that the company finalizes a $225 million recapitalization investment from Oaktree that was rumored on Monday. Success of the walnut crop could be the decider as to whether the deal’s new senior notes and warrants for 4.4 million shares might be canceled.
Investing Insights: Hormel Foods Earnings: Two Quarters of Dropping Profit Snapped
Kraft (NYSE:KFT) shareholders approve the new name Mondelez for its worldwide snack brands, by a huge margin. Fig Newton, Oreo, Cadbury, and Trident will all become Mondelez, following the split of the company into two parts, but a pertinent question is, will consumers think the new name on packages means that the snacks are actually a different brand?
Wal-Mart (NYSE:WMT) says that it will open an additional 100 supercenters in its fiscal year 2013, which is considerably below the previous forecast range of 130 to 135. The revelation came at the Morgan Stanley Retail and Restaurant Conference, and seems to confirm WMT’s strategy of moving away from the ‘big-box’ stores.
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