Electrolux Sucking Up GE Appliance; Soupy Sales; So Long, Boneless Chicken Sandwich Innovator

Suck it up…

Image courtesy of bplanet/FreeDigitalPhotos.net

Image courtesy of bplanet/FreeDigitalPhotos.net

AB Electrolux, the parent company of US brands Electrolux and Frigidaire, did a little shopping today when it picked up GE Appliance for the bargain basement price of $3.3 billion. It is the biggest purchase Electrolux ever made. The two companies combined are expected to pull in $23 billion in total sales which is a ridiculous amount of ovens and dishwashers, if you ask me. It’s also expected to save the company a whopping $300 million. What it won’t likely save are a number of jobs that tend to get lost following a business decision such as this.

Not so tasty earnings…

Image courtesy of tiramisustudio/FreeDigitalPhotos.net

Image courtesy of tiramisustudio/FreeDigitalPhotos.net

Apparently is soup is not good food, after all. That is, if you ask Millenials whose never-ending quest for tasty adventures and lack of loyalty seem to have allegedly affected Campbell Soup Co.’s less than flattering earnings. Campbell’s, which also owns Pepperidge Farm and V8 (should have had one) came out with fourth quarter earnings and while sales did rise 7%, to $1.85 billion, analysts were expecting $1.87 billion. Is it really all the fault of those Millenials? Hmmm. However, accroding to Campbell’s president and CEO Denise Morrison, the food industry is experiencing profound “change and challenge.” To me that sounds like code for it’s all the Millenials’ fault. But you could also ask more traditional comapnies like Pepsi and McDonald’s who have been losing ground to brands like Chipotle and whatever trendy drink those pesky Millenials favor this week. However, on the bright side, Campbell’s bright side, that is, shares are up almost 3% and its coming out with more than 200 new foods. So clearly there are still quite a few people left who think soup is indeed a good food.

RIP…

Image courtesy of tiverylucky/FreeDigitalPhotos.net

Image courtesy of tiverylucky/FreeDigitalPhotos.net

We bid farewell to yet another revolutionary. This time it’s to Truett Cathy, 93, the founder of Chick-fil-A. Better known these days for its opposition to gay marriage than for its boneless chicken sandwich and classic southern cuisine food that catapulted it to fame. The first Chick-fil-A graced the world back in 1967, in Atlanta and has since grown to more than 1,800 locations. Born into poverty, Cathy built up the chain to more than 1,800 eateries in 39 states, landing himself on the Forbes’ list of billionaires. The chain, also famous for the fact that it is closed on Sundays, posted more than $5 billion in sales in 2013.

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One response to “Electrolux Sucking Up GE Appliance; Soupy Sales; So Long, Boneless Chicken Sandwich Innovator

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