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.
- The key questions for digital strategists in 2017
- Unilever 2016 investor day - the top takeaways
- Wessanen's move for Spain's Biogran - analysis
- Whole Foods, Aldi, M&S - retail round-up, Nov 2016
- Burger King, Jollibee: foodservice focus, Nov 2016
- General Mills jobs to go in business revamp
- Verlinvest, China Resources invest in Oatly
- B&G acquires pasta sauce group Victoria Fine Foods
- Hain Celestial appoints Nestle executive as US COO
- Tyson sets up US$150m investment fund