Danone tries to revitalise European business
The French food giant has seen sales suffer in southern Europe and is cutting costs to "win back its edge" in the market.
Danone is to cut EUR200m in costs from its European operations in a bid to "win back its competitive edge" in the region after falling sales.
French food giant Danone said it expects the same weaknesses it has seen in its European dairy division this quarter to continue through into the fourth.
Danone's share price slid this morning (17 October) as third-quarter sales fell short of market expectations, with declining revenue in Spain and Italy weighing on group revenues.
- General Mills US "priority" categories gain share
- Interview part 2: BRF CFO Augusto Ribeiro
- 2015 preview: A better deal for M&A sellers
- Interview part 1: BRF CFO Augusto Ribeiro
- Interview: How BRF plans growth in stagnant Europe
- Kraft to reappraise business, says new CEO Cahill
- General Mills earnings drop one-third
- Pork Farms "disappointed" over Kerry deal ruling
- Bimbo to buy Saputo's bakery arm
- PepsiCo opens snacks plant in Saudi Arabia