NORTHFIELD, Ill., US – The following is the official statement issued by Kraft Foods Group, Inc. on Oct 30, 2013 on its U.S. coffee collaboration with McDonald’s: “Kraft has entered into a comprehensive coffee collaboration in the U.S. with McDonald’s to help consumers enjoy McCafé premium coffee in the comfort and convenience of their own home.
An upcoming test will deliver McCafé in new formats, including roast-and-ground bagged coffee and single-cup offerings, in the coffee aisle of retail stores. As a global icon with proven success in branding and innovation, McDonald’s is a perfect partner to complement our vast coffee expertise. We look forward to launching this test and providing the beloved McCafé brand to consumers in new and exciting ways.”
In other news, Kraft Foods Group, Inc. reported the same day third quarter results that reflected significant cost savings that outpaced brand-building reinvestments, as well as a negative impact from comparisons with unusually high product shipments in the prior year period.
Last year, the company shipped safety stock to retailers ahead of a systems changeover as part of the spin-off from Mondelēz International.
- Q3 Net Revenues were 4.2% lower and Organic Net Revenues1 were down 4.1% primarily due to comparisons with higher, spin-off related shipments in the prior year
- Q3 EPS of $0.83 included an $0.18 gain from market-based impacts to post-employment benefit plans and a negative $0.05 impact from changes in unrealized gains/losses from hedging activities
- 2013 EPS guidance increased to approximately $3.58 from approximately $3.40 due to market-based impacts to post-employment benefit plans
“The unusual nature of last year’s Q3 results obscures our steady progress in remaking the best brand portfolio in the food and beverage industry,” said Kraft CEO Tony Vernon.
“There’s no question it’s a difficult environment for our consumers and customers. We remain confident that our disciplined approach to growing our brands and driving cost savings will enable us to continue delivering the consistent returns our shareholders expect.”
