Tyson Foods makes its operations leaner and boosts earnings outlook
The company sa...
US meat producer Tyson foods has lifted its full-year earnings guidance, thanks to a renewed appetite for beef among American consumers.
The company said, it expected adjusted earnings for the fiscal 2017 year, which ended on Saturday, to come in between $5.20-$5.30 per share.
This is up from its previous prediction of $4.95-$5.05 per share. Arkansas-based Tyson attributed the amendment primarily to “much better than expected earnings” in its beef business.
Beef is the company’s biggest sales unit, accounting for 37% of total group revenue and 24% of group operating profit last year.
The announcement comes as the company plans to cut 450 corporate jobs as part of its stated goal to have a leaner operation while focusing on growing profits.
In a statement, Tyson Foods said it will eliminate 450 jobs, with most of the layoffs occurring at the company’s headquarters in Springdale, Arkansas, and that at corporate offices in Chicago and Cincinnati.
“These are hard decisions, but I believe our customers and consumers will benefit from our more agile, responsive organization as we grow our business through differentiated capabilities, deliver ongoing financial fitness through continuous improvement and sustain our company and our world for future generations,” said Tom Hayes, Tyson’s president and chief executive officer.
Hayes said that the restructuring is part of the company's "Financial Fitness" plans and an effort to show that it can operate more efficiently
IHOP becomes IHOb, and the 'b' stands for burgers
The news of the rebrand was r...
IHOP Restaurants has rebranded, and will now be known IHOb, with the ‘b’ standing for burgers, the company has said.
The news of the rebrand was revealed next week, with speculation about what the ‘b’ may stand for, with guesses ranging from brunch to bananas.
In a release, IHOb said that change in fact celebrates the debut of the brand’s new Ultimate Steakburgers, a line-up of seven mouth-watering, all-natural burgers.
To show the brand is as serious about burgers as it is about its world-famous pancakes, it’s flipped the “p” to a “b” in their iconic name for the time being, including its Twitter handle.
A flagship IHOb restaurant in Hollywood, CA, has also been completely “re-burgered”, and will offer all of the company’s new range of burgers, with its Ultimate Stakeburgers to come in seven varieties.
“Burgers are a quintessential, American menu item so it makes perfect sense that IHOP, one of the most iconic, all-American comfort-food brands in the world, would go over the top to create a delicious line-up of quality burgers that hit the spot any time of day,” said Chef Nevielle Panthaky, Head of Culinary at IHOb.
“Our new Ultimate Steakburgers are made with all-natural, 100% USDA Choice, Black Angus ground beef that is smashed on the grill to create a sear that locks in the juices and flavour.