Core Viewpoint - Craft Hinds is attempting to reverse its prolonged stock and sales slump by pausing its planned separation into two companies and focusing on turning around its North American business [1][4]. Group 1: Company Strategy - The company has decided to pause the separation plan to concentrate on improving the health of its North American grocery business, which has not been performing as expected [4][5]. - The CEO emphasizes that the primary focus is now on turning around the North American business to create a healthier state, which will preserve the option for future separation if desired [5][6]. - A significant investment of $600 million has been announced to support marketing expansion and return to organic growth, addressing the loss of market share over the past decade [7][9]. Group 2: Market Performance - Since the merger of Craft Hinds ten years ago, the company has consistently lost market share each year, with the last year being particularly poor [8][9]. - The company operated with significantly lower overhead and marketing levels compared to peers, which contributed to its declining market position [8][9]. - The new investment aims to bring marketing levels closer to industry benchmarks, with the expectation that improvements will take time but are necessary for recovery [9][10].

Shares in Nestlé rose Thursday. - Denis Balibouse/Reuters Nestlé said it would offload its remaining ice-cream business and pull back from a raft of brands as part of a broader plan to revive the packaged-food giant’s fortunes. The maker of KitKat chocolate bars and Nescafé coffee is pursuing a turnaround under new Chief Executive Philipp Navratil after a string of setbacks, weaker-than-expected results and management upheaval in recent years. Most Read from The Wall Street Journal On Thursday, Navrat ...

The UK-based online retailer and fashion-led marketplace had previously set out plans to conduct this fundraising process in an announcement dated 18 February 2026. It completed the placing and subscription at an issue price of 18 pence per share, which represented a 5% discount compared to the 19 pence closing price on 17 February 2026. The fundraise, described as “significantly oversubscribed” at the set issue price, involved the placing of 200 million new ordinary shares and a subscription for 22.22 ...

Core Viewpoint - Kraft Heinz is facing significant challenges, including a declining portfolio and a need for strategic restructuring to return to growth, as indicated by the recent decision to pause the planned separation of its business units [4][5][21]. Financial Performance - Kraft Heinz's shares have decreased by 19% over the past year and 37% over the last five years, with annual sales volumes not increasing since a 3.4% rise in 2020, and a reported 4.1% decline in the latest results [1][5]. - The company is forecasting a further decline in organic growth of between -1.5% to -3.5% for the upcoming year, following a 3.4% drop in 2025 and a 2.1% decline in the previous 12 months [7][8]. Strategic Decisions - CEO Steve Cahillane has emphasized the priority of returning the business to profitable growth and has backtracked on the previous proposal to split the company, focusing instead on fixing the core issues [5][12]. - The planned separation of Kraft Heinz into two standalone businesses has been postponed, with the decision supported by the board, as the current market conditions are deemed unfavorable for such a split [4][21]. Investment and Growth Plans - Cahillane plans to invest $600 million into marketing, sales, and R&D to drive recovery and improve the company's performance, despite expectations of a 14-18% decrease in adjusted operating income [8][20]. - The company aims to align its brands and products with consumer preferences to enhance growth potential and improve market share, particularly in the North American Grocery segment [9][17]. Market Challenges - The external environment has become increasingly challenging, with worsening consumer sentiment and softening industry trends, complicating the path to recovery for Kraft Heinz [17][22]. - Analysts have expressed skepticism about the company's ability to operate successfully as standalone entities, indicating that the current portfolio may not be strong enough to support such a separation [18][23].

Financial Data and Key Metrics Changes - In Q4 2025, global sales from continuing operations totaled $3 billion, representing an 8% increase on a reported basis and a 3% increase on an operational basis [8][18] - Adjusted earnings from continuing operations were $0.44 per diluted share, which fell short of expectations despite exceeding top-line forecasts [8][18] - Adjusted gross margins from continuing operations were 35.5%, a decrease of 900 basis points compared to the prior year [26] - Adjusted operating margin was 11.8%, a decrease of 340 basis points compared to the prior year [27] Business Line Data and Key Metrics Changes - Medical Products and Therapies (MPT) segment sales were $1.4 billion, increasing 4% in the quarter, driven by growth in Infusion Therapies and Technologies [18][19] - Advanced Surgery sales totaled $328 million, growing 11% due to strong demand for hemostats and sealants [20] - Healthcare Systems and Technologies (HST) sales were $827 million, increasing 4%, with Care and Connectivity Solutions growing 4% globally [21] - Pharmaceuticals segment sales totaled $668 million, increasing 2%, but the Injectables and Anesthesia division saw a decline of 9% [23][24] Market Data and Key Metrics Changes - Total U.S. capital orders for Care and Connectivity Solutions increased nearly 30% compared to the prior year, indicating strong demand [22] - The company has not observed a slowdown in U.S. hospital capital spending, although macroeconomic uncertainty is being monitored closely [22] Company Strategy and Development Direction - The company is focused on three main priorities: stabilizing business areas, strengthening the balance sheet, and driving a culture of continuous improvement [11][12] - A new operating model has been announced to simplify the organization, accelerate innovation, and improve performance by delayering leadership and embedding critical functional roles [12][62] - Continuous investment in R&D is expected to remain at or above historical levels to drive innovation [10][11] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges faced in Q4 2025 and emphasized the need for improvement in performance and execution [9][10] - The outlook for 2026 anticipates total sales growth to be flat to 1% on a reported basis, with organic sales growth expected to be approximately flat [30][32] - The first quarter of 2026 is expected to be the most challenging, with improvements anticipated in the second half of the year [35][36] Other Important Information - Free cash flow generation exceeded $450 million in Q4 2025, with full-year free cash flow reaching $438 million [29] - The company plans to deploy cash towards reducing leverage in line with its capital allocation framework [29] Q&A Session Summary Question: Strategic review and sustainability of the business - Management emphasized the importance of accountability at lower levels and the need for continuous improvement to enhance customer support and performance [41][42] Question: Progress on reducing G&A and support costs - Management confirmed that they are on track with cost takeout and streamlining operations, with a commitment to eliminate stranded costs by the end of 2027 [46][48] Question: Earnings growth as TSAs roll off - Management indicated that while they anticipate growth in 2027, specific guidance is not being provided at this time [51][52] Question: Q4 gross margin decline factors - Management identified unfavorable sales mix, higher manufacturing costs, and non-recurring items as key contributors to the gross margin decline [70][71] Question: Improving margins in the Pharmaceuticals business - Management expressed confidence in the fundamentals of the Pharmaceuticals business and outlined ongoing efforts to improve operational execution and address supplier challenges [76][78]

Core Viewpoint - Kraft Heinz will pause its separation efforts and focus on increasing investments in its food business to address years of declining sales [1] Company Strategy - The company aims to turn around its struggling sales by prioritizing its food business over separation initiatives [1]

Group 1 - Kraft Heinz announced a reversal of its plan to split into two businesses, which was initially proposed five months ago, effectively undoing part of the $46 billion merger that created the company [3][5] - The split was intended to separate the company into a business focused on sauces and shelf-stable meals and another on slower-growing grocery staples [4] - The decision to halt the breakup comes amid declining sales as consumers shift towards healthier food options, compounded by inflation and the impact of weight loss drugs [5][6] Group 2 - New CEO Steve Cahillane, who previously oversaw successful separations in other companies, is now focusing on turning around Kraft Heinz's performance and has committed over $600 million to marketing, sales, and product development [6][7] - The company aims to improve product quality and potentially lower prices as part of its strategy to return to profitable growth [7] - The chairman of Kraft Heinz expressed confidence in the decision to pause the separation and focus on growth initiatives [7]

Core Insights - Capri Holdings exceeded Wall Street's earnings estimates for the third quarter and matched revenue expectations, with significant improvements in its balance sheet [1][2] Financial Performance - Capri's net income reached $57 million, while adjusted profits increased by 32% to $79 million, or 81 cents per share, surpassing analysts' projections of 78 cents [4] - Revenues for the quarter ending December 27 fell by 4% to $1 billion, with a 5.9% decline in constant currencies [5] - Adjusted operating margins decreased to 7.7% from 9.1% year-over-year [5] Debt Management - The sale of Versace for approximately $1.5 billion significantly reduced Capri's net debt to $80 million from $1.6 billion at the end of September, providing more flexibility for growth in its Michael Kors and Jimmy Choo divisions [2] Strategic Outlook - CEO John Idol indicated that the company aims to return to growth in fiscal 2027, starting at the end of March [3] - The company is focusing on enhancing brand desirability through compelling storytelling and luxury product offerings, supported by advanced data analytics and consumer insights [4] Brand Performance - Michael Kors' revenues decreased by 5.6% to $858 million, with a 7.3% decline in constant currencies, while Jimmy Choo's revenues increased by 5% to $167 million, or 1.9% in constant currencies [5] - The company acknowledged that some strategies are exerting near-term pressure on revenue but are intended to build a stronger foundation for future growth [6]

Core Viewpoint - Verizon Communications has shown significant improvement in its financial performance, making it an attractive option for income investors, particularly due to its robust free cash flow growth, accelerating earnings, and an improving underlying business. Group 1: Financial Performance - Verizon's shares increased by 11.83% following its Q4 update, reflecting positive investor sentiment [2][3] - The company reported free cash flow of $20.1 billion for 2025, an increase from $19.8 billion in the previous year, with guidance projecting a further growth of at least 7% to $21.5 billion in 2026 [3][4] - Adjusted earnings per share (EPS) are projected to be between $4.90 and $4.95 in 2026, indicating a year-over-year growth of 4% to 5% [5][6] Group 2: Business Improvement - Verizon's underlying business is showing noticeable improvement, with the highest quarterly postpaid phone net additions since 2019 [6][8] - Wireless services revenue rose by 1.1% to $21 billion in Q4, while wireless equipment revenue increased by 9.1% year over year to $8.2 billion [8] - The company has successfully reduced its net unsecured debt to $110.1 billion at the end of Q4 2025, down from $113.7 billion the previous year [8] Group 3: Strategic Moves - The acquisition of Frontier Communications, set to close on January 20, 2026, is viewed as a pivotal step in Verizon's turnaround strategy, significantly expanding its fiber footprint to over 30 million homes and businesses [9]

Core Insights - Verizon Communications Inc. reported strong fourth-quarter and full-year 2025 results, indicating a significant turnaround for the company driven by strategic initiatives under CEO Dan Schulman [1][2] Financial Performance - In 2025, Verizon's total operating revenue reached $138.2 billion, up from $134.8 billion in 2024, with consolidated net income of $17.6 billion and adjusted EBITDA of $50.0 billion [7] - For the fourth quarter of 2025, Verizon reported total operating revenue of $36.4 billion, with consolidated net income of $2.4 billion and adjusted EBITDA of $11.9 billion [7] - Earnings per share (EPS) for 2025 was $4.06, while adjusted EPS, excluding special items, was $4.71 [7][24] Customer Growth and Market Strategy - Verizon achieved over 1 million total net additions across mobility and broadband in the fourth quarter, the highest since 2019, including 616,000 postpaid phone net additions [6][7] - The acquisition of Frontier, completed on January 20, 2026, expanded Verizon's fiber footprint to over 30 million homes and businesses, enhancing its mobility and broadband convergence strategy [2][6] Future Outlook - For 2026, Verizon anticipates total retail postpaid phone net additions of 750,000 to 1 million, with mobility and broadband service revenue growth projected at 2.0% to 3.0% [16] - The company expects adjusted EPS to be between $4.90 and $4.95, representing a year-over-year growth of 4.0% to 5.0% [16] - Free cash flow is forecasted to exceed $21.5 billion, marking a growth of approximately 7.0% from 2025 [16][28]