CPG manufacturers including Coca-Cola and Kraft Foods are teaming up with New Jersey-based TerraCycle to recycle leftover packaging into consumer goods, such as umbrellas and bags. The "upcycled" products are beginning to appear at retailers, including Target, OfficeMax and Wal-Mart.
Starbucks will close 600 U.S. stores, an increase from recent plans for 100 closings. The coffee giant said the stores were not profitable and many were newly opened. Starbucks plans fewer than 200 new store openings in the next fiscal year.
Consumers are still willing to pay for ice cream during the summer months, even as food and fuel costs continue to rise. Reports show that soft serve and custard vendors are so far reporting a "stellar" season. "My theory is, people aren't going on vacation, so they're hanging out around town and doing stuff locally," said one owner of a frozen custard shop.
Dannon has tasked a five-person team with improving the brand's merchandising and visibility at about 3,000 stores this year. The "shelf-obsession" program aims to capitalize on the increasing demand for yogurt, which is seeing sales rise 6.3% annually.
Lino Saputo Jr. has been a part of Saputo Cheese -- a company founded by his father -- since he was 13 years old. He took over as CEO in 2004, but spent many years working in the company's manufacturing division. He reminisces about how his family entered the cheese and dairy industry and discusses the company's future acquisition plans.