|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||258.40 - 260.80|
|52 Week Range||200.90 - 276.20|
|Beta (5Y Monthly)||0.45|
|PE Ratio (TTM)||36.90|
|Forward Dividend & Yield||3.85 (1.42%)|
|Ex-Dividend Date||Apr 26, 2019|
|1y Target Est||N/A|
BT , Danone, Microsoft and Sony are among 178 companies with top marks in the latest global ranking of transparency and action on climate change. Japan and the U.S. were the countries with the headquarters of the most 'A List' companies individually, while regionally, Europe as a bloc was home to the highest number. Companies are coming under pressure from customers and investors to step up efforts to help slow climate change in accordance with the 2015 Paris climate agreement to phase out greenhouse gas emissions by shifting away from fossil fuels.
Mohawk Group Holdings, Inc. Uses Algorithms to Design Products Such as the hOmeLabs Beverage Refrigerator and Cooler Mohawk Group Targets Consumer Product Categories Where Rating Trumps Brand Mohawk Uses AI to Improve Products, Market and Price Them Optimally Mohawk Only Months Away from Positive EBITDA Mohawk Trades at Deep Discount to High-Growth Technology Companies By […]
(Bloomberg Opinion) -- Nestle SA Chief Executive Officer Mark Schneider just proved his ability to be both strategic and creative as he methodically shapes the Swiss food giant, scooping and scraping up where he can.The company, which spans water, pet food and coffee, on Wednesday agreed to sell its U.S. ice cream business for $4 billion to Froneri, the joint venture it created three years ago with private equity group PAI Partners. The price equates to 2.2 times Nestle’s U.S. ice cream sales in 2018, similar to the multiple European rival Unilever NV achieved when it sold its spreads business to KKR & Co. almost exactly two years ago. That looks reasonable for Nestle’s unit, which includes the Haagen-Dazs brand in the U.S.With the sale, Schneider, a German-American educated at Harvard Business School, is very close to his target of changing up 10% of Nestle’s portfolio, helping to keep activist investor Dan Loeb happy. An outright sale would have been cleaner. But given that Froneri already holds Nestle’s European ice-cream assets, it was probably the easiest option.Nestle and PAI will each inject some funds into the joint venture to facilitate the deal. Even so Nestle should still receive between $3 billion and $4 billion in cash from the proceeds.Most importantly, there is scope for a fuller exit in time. PAI could acquire Nestle’s stake in the joint venture, or, more likely, the two could pursue an initial share sale for Froneri. Increasing sales growth, elevating profitability by developing Haagen-Dazs and cutting costs could potentially generate further value for Nestle in a few years’ time.That Nestle has been able to find a creative way to offload ice cream is encouraging. Schneider had already tackled many of the obvious disposal candidates within the group, including the U.S. confectionery and skincare divisions.Stay tuned for more. He may be equally imaginative with other parts of the group, such as its joint ventures in cereals with General Mills Inc., the U.S. maker of Cheerios, and in chilled dairy with Lactalis International, the French milk and cheese company.For example, Nestle has a few more ice cream divisions in Canada, Latin America and Asia that could be folded into Froneri in due course. But it’s likely Nestle didn’t want to rush it to avoid a bout of indigestion. There are other disposal candidates elsewhere in the group. It is already selling its Herta cooked meats business, while Bloomberg News has reported that it’s weighing the $1 billion sale of two Chinese brands.At least some parts of the U.S. frozen-food division, such as pizzas, could be put on the block, although Nestle has so far stressed its commitment to staying in the business of frozen food. It doesn’t want to miss out on the latest trends with people cooking less and cutting down on meat, which has created a boom in vegetarian and vegan dishes. And although Nestle has restructured its waters business, indicating it wants to keep this division rather than offload it, it could always decide to carve out for sale the part that delivers bottles and dispensers directly to homes and offices.And of course there is Nestle’s stake in L’Oreal SA, although so far the group has remained committed to this. Nestle doesn’t need the money. Even with returning $20 billion to shareholders, year-end net debt is estimated just 1.4 times Ebitda. Deleveraging isn’t part of the strategy, indicating further capital returns. A wild card would be a big deal, for example in medical nutrition.In the meantime, it’s a question of delivering on Schneider’s strategy of steering a steady course between revenue-driven start-ups that make little profit and companies that prioritize margin expansion at the expense of investing in growth. So far, this has paid off for Nestle shareholders, with the stock up 27% this year. But the turn of events may be slightly worrying for Magnum owner Unilever, which now faces a more muscular competitor in ice cream.While Schneider has exhibited laser-like focus in M&A, Unilever’s relatively new CEO Alan Jope and incoming chairman, Nils Andersen, face the challenge of integrating the plethora of small acquisitions the Anglo-Dutch owner of Ben & Jerry’s has made over the past few years, all while trying to elevate sales growth.That was already a tall order. Now they’ll need to add avoiding a malfunction in the frozen aisle to their to-do list.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: Melissa Pozsgay at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
L'Oreal's Lancome brand is planning to open a flagship store in China after launching its first major showcase in Paris this week, its chief executive said, as the company capitalizes on booming demand for high-end cosmetics. Lancome, one of the biggest brands of French cosmetics' group L'Oreal, already sells its creams and make-up though airport retailers, department stores and other networks, including 50 freestanding stores in China.
Moody's Investors Service ("Moody's") affirmed the ratings on six classes of Hudson Yards 2016-10HY Mortgage Trust, Commercial Mortgage Pass-Through Certificates. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the credit rating action on the support provider and in relation to each particular credit rating action for securities that derive their credit ratings from the support provider's credit rating.
Behind Stifel’s downbeat outlook on Ulta: increasing promotional activity, sluggish growth across the U.S. beauty industry, and tough comparisons to last year’s fourth quarter when the chain launched celebrity Kylie Jenner’s makeup line.
Millennials and young consumers worldwide, especially in China, have a "strong appetite" for beauty products, including makeup and skincare, Agon told CNBC. Not only is the beauty market immune to an economic slowdown but it can remain resilient during an economic "crisis," the CEO said. L'Oreal is taking advantage of the industry's strength by "fueling growth" through investing across media, digital channels, and e-commerce to reach more consumers, he said.
Moody's Investors Service ("Moody's") has today downgraded to Aa3 from Aa2 the issuer rating of Nestlé S.A., the world's largest food and beverage group. Concurrently, the agency has downgraded to Aa3 from Aa2 the senior unsecured long-term ratings of its guaranteed subsidiaries and affirmed the Prime-1 (P-1) short-term ratings. The rating action follows the announcement on 17 October that the company plans to undertake an additional CHF 20 billion share buyback to be completed over the next three years.
Moody's Investors Service (Moody's) has today assigned a B2 Corporate Family Rating (CFR) and a B2-PD Probability of Default Rating to SAM Bidco SAS (Sebia or the company). Concurrently, the rating agency has assigned a B2 instrument rating to the EUR920 million term loan B1 and B2 following the contemplated EUR100 million add-on to this facility and a B2 instrument rating to the EUR20 million revolving credit facility (RCF).
If you want to know who really controls L'Oréal S.A. (EPA:OR), then you'll have to look at the makeup of its share...
Moody's Investors Service ("Moody's") has today affirmed the Prime-1 (P-1) short-term Commercial Paper ratings of both L'Oréal S.A. and its US subsidiary L'Oréal U.S.A. Inc. The outlook is stable. The affirmation of L'Oréal's Prime-1 (P-1) short-term Commercial Paper rating reflects the group's strong business profile, solid profitability and very strong credit metrics. Moody's expects the group's growth to continue to outperform the global beauty market.