As another week draws to a close, we look back at the stories that dominated the headlines; from a dairy giant winning a Federal Court case to a convenience store chain offering delivery service to Aussies at home during the Coronavirus lockdown. Read below the major headlines this week.
Dairy giant Bega Cheese won a case in the Federal Court this week against US giant Kraft over the use of trademark yellow lids on its peanut butter jars. Kraft appealed a 2018 decision by the court when it gave the Australian company exclusive rights to use the yellow lid plus the red and blue peanut labels. However, the Federal Court dismissed the case on Tuesday.
FMCG giant Johnson & Johnson (J&J) slashed its 2020 sales forecast by billions of dollars and also cut its profit expectations. It now expects 2020 revenue of US$77.5 billion to US$80.5 billion. J&J faces both the prospect of lower sales while consumers stay home in quarantine and the higher costs as it races to develop a vaccine against the coronavirus.
Convenience chain 7-Eleven Australia launched a new delivery service in Melbourne and will extend it interstate in coming months. CEO Angus McKay said that it acquired a majority stake in Tipple in 2018 to invest in “on-demand ‘last-mile’ delivery and technological capability”. They will work with Tipple’s delivery drivers, to provide consumers with more essentials options without needing to leave their homes.
Japanese company Frucor Suntory appointed former PepsiCo boss Darren Fullerton as its new chief executive for Australia and New Zealand. The beverage company, with headquarters in Auckland is known for its V energy drink. Fullerton takes up the role on Tuesday bringing extensive experience from the beverage industry in Australia and 18 years stint at PepsiCo covering multiple roles.
Meal kit delivery service Marley Spoon is launching a new breakfast range of cafe-style brunch options for Aussies quarantined at home during COVID-19. On May 4, it will launch the Zero-Stress Breakfast Bag which has three breakfast bags of muesli, yoghurt and fresh seasonal fruits. Its cheaper meal kit delivery service Dinnerly will also offer a special Mother’s Day breakfast-in-bed pack.
That’s it for now. See you again on Monday morning. Stay safe and stay at home!