Latest news with #Guichard
Hamilton Spectator
21-07-2025
- Business
- Hamilton Spectator
He took the helm at the height of tragedy. How Danone Canada's president is working to rebuild trust
After starting his career in Montreal, Frederic Guichard got the opportunity to return 26 years later, but the new president of Danone Canada's arrival was marred by tragedy — a listeria outbreak that would eventually claim three lives. The native of Nice, France, spent a year and a half in Canada in 1997-98 as part of a government-sponsored work program, serving as a marketing manager for Paris-based spirit maker Pernod Ricard in Montreal. Upon his return, Guichard accepted a role at Danone and has been working for the global food and beverage maker ever since. The company was founded in 1919 by Isaac Carasso, a Greek immigrant living in Barcelona, Spain, who was inspired by emerging research on the positive impact of yogurt on gut health and immunity. More than 106 years later, the France-headquartered company maintains its emphasis on promoting health through food. Today, Danone is a world leader in dairy and plant-based products, and second in packaged water and infant nutrition, with nearly $44 billion in sales in 2024. Its products are sold in more than 120 markets around the world with a global workforce of about 90,000. In 1972, then-CEO Antoine Riboud announced the company's 'dual project' of balancing business success with social progress, a mantra that Guichard says first attracted him to the company over a quarter century ago and has kept him there ever since. After nearly two decades working in marketing in Paris on Danone's yogurt, water and health brands, followed by another seven years in Eastern Europe, Guichard and his wife got the opportunity to return to Quebec last June. Danone entered the Canadian market in 1993 via its acquisition of Delisle, which had been in the yogurt business since the 1930s. The brand that brings Canadians Silk, Activia, Evian, Oikos, International Delight and more now leads the country in yogurt, plant-based beverages and coffee creamers. Most of the company's 618 Canadian staff are split between its Toronto and Boucherville, Que., offices, while others work remotely from coast to coast. Guichard was named president of Danone Canada in June 2024 and began in his new post last Canada Day. Within days of his arrival, however, the Canadian Food Inspection Agency issued a national recall of plant-based milk alternatives from a production facility that makes its flagship almond milk, Silk — among other brands — due to a suspected listeria outbreak. Guichard says the company has spent the past year trying to regain the trust of Canadian consumers by investing in its health and safety practices, while furthering its sustainability efforts and developing new products to meet changing consumer preferences. The Star recently spoke with Guichard from Danone Canada's headquarters in Boucherville, just outside Montreal, about the organization's long-standing commitment to taste, sustainability and health, and the challenges of confronting a tragedy that seemed to call those principals into question. As a French person, food is the only thing we talk about. Even when we're eating a meal, we're talking about the last one, and the next one. I was especially interested in the products that people consume every day, and the impact it has on their lives. It's something I learned from my mom, who gave me a strong nutritional education at home, and over time we've only learned more about how important food and nutrition is to your health. Originally, I studied engineering, because I was interested in how things work. I enjoyed learning about industrial engineering, manufacturing and supply chains, but I couldn't picture a career in it, so I went back to school to study marketing and communications. I enrolled in a program organized by the French government that sent recent graduates to work for French companies based all over the world for a year and a half. It's a great way to get on-the-job experience to bring back to France. I had always wanted to travel to Canada and there was an opportunity to work in Montreal, so I decided to go for it. I always thought Canada was a fantastic country to visit, but I didn't think I would really fall in love with it like I did. I came here with my future wife after we had been together for six months, so this was the first step we made as a couple, and maybe that's why it became so important to me. I wanted to work for a large French corporation that had a strong presence and a strong impact internationally, both because of the impact it could have, and because I wanted to go abroad again as soon as possible. It took 17 years, but I ended up moving eventually, and I never got bored working for this company, even in France. You don't stay at a company for 26 years unless you're passionate about the work you're doing. Danone's mission is to improve people's health through food while improving the health of the planet. If you want to be a leader in sustainability, you need to be a certain size, and as a global company we can make a significant impact. The two largest parts of our environmental footprint are agriculture and packaging. On the agricultural side, we are working with our upstream partners to promote regenerative agriculture to reduce the carbon emissions of milk production worldwide. Danone was also the first major food company to sign a pledge to reduce methane emissions from dairy production 30 per cent by 2030. On the packaging side, we are working with stakeholders across the supply chain to ensure our packaging is recycled properly. Last month we announced a $9-million investment in our Boucherville plant to develop more sustainable packaging. In fact, Danone is Canada's largest consumer-facing B-Corp . We call ourselves the 'health through food' company, because nearly 87 per cent of Danone's global dairy, plant-based, water and aqua-drinks portfolio has at least 3.5 out of five stars on the international Health Star Rating system, which is unique in our industry. We've accomplished that by focusing on making our foods healthier, and by promoting healthy food categories. For example, we've reduced the amount of sugar in our Canadian products by 30 per cent in the last seven years. They say the second brain is in your gut, and we know that a healthy gut has benefits that go beyond digestive health, like mood and mental health. We develop products based on the latest in fermentation and gut health science. Activia has been clinically proven to improve digestive health, and if you have Activia twice a day for 14 days in what we call the 'Activia Gut Health Challenge,' nine people out of 10 report feeling the difference. We've also seen a surge in products that are high in protein, which has been proven to not only help build muscle but promote healthier aging. Yogurt is a great way to deliver protein to people in a way that's convenient, versatile, affordable and nutritional, without sugar or fat, which is why we introduced Oikos Pro, a high-protein Greek yogurt, this year in Canada. The same is true of plant-based milks, which were pioneered by Silk in the '70s, before being acquired by Danone in 2017. It's not just for those who can't tolerate dairy. In fact, many Canadians prefer having their cereal with sweetened almond milk than regular milk because of the taste, but also because it doesn't have as much sugar. This category really illustrates how we can have the best of nutrition and taste at once, and we continue to innovate in that direction. Those events have been devastating for all of us, because as you said we are a company that is based on health through food, so facing the reality that we might have missed something somewhere that led to these events was very hard. This happened a few days after I landed in Canada, and I immediately faced one of the most tragic events in the company in many years. The entire industry was caught off guard; we didn't think something like this could happen in this product category. I'm proud of how quickly the team worked to protect the health of our consumers. After we made the recall, we discovered that the issues were from a factory of a co-manufacturer and so we completely changed all our sourcing and moved everything into our Danone factories. It's been emotionally challenging for everyone, but I'm proud of how we managed to sustain production, raise the bar of all our products in terms of quality and safety, and created awareness across the industry. We are operating in consumer goods categories that are growing faster than average, and we need to lead those categories and shape them in a way that meets consumer expectations. Canadians want healthier products that take better care of the environment. They want transparency on what goes into them, the science behind them, and the values of the company. We're going to double down on what we do best, which is crafting new recipes that not only taste good, but go one step further in terms of health and nutrition. We are here to develop such products and to develop trust with our consumers. There is a lot of room for innovation, and we aim to lead those categories, not just to serve them.
Yahoo
24-06-2025
- Business
- Yahoo
With Consumer Confidence Sliding, Could Shoe Sales Slow Sooner Than Later?
Consumers are concerned about tariffs and they are less confident than they were last month — that does not bode well for footwear sales. 'Consumer confidence weakened in June, erasing almost half of May's sharp gains,' Stephanie Guichard, the Conference Board's senior economist, global Indicators, said. 'The decline was broad-based across components, with consumers' assessments of the present situation and their expectations for the future both contributing to the deterioration.' More from WWD Footwear Firms Rejiggering Supply Chains Will See Long-Term Benefits May Swiss Watch Exports Slump After U.S. Tariff-led Surge All Eyes Are on Nike Ahead of Q4 Earnings The Conference Board said on Tuesday that its Consumer Confidence Index fell to 93.0 in June from 98.4 in May. The Present Situation component fell 6.4 points to 129.1. The Expectations Index fell 4.6 points to 69.0, representing a level that was substantially below the threshold of 80 that typically signals that a recession is ahead. 'Consumers were less positive about current business conditions than May. Their appraisal of current job availability weakened for the sixth consecutive month but remained in positive territory, in line with the still-solid labor market,' Guichard said. She noted that the three components of the Expectations Index — business conditions, employment prospects, and future income — all weakened. And consumers were more pessimistic about business conditions and job availability over the next six months, with optimism about future income prospects eroding slightly. The data points also reflected that the retreat in confidence was shared by all age groups, and almost all income groups. It was also shared across all political affiliations, withe the largest decline among Republicans, the Conference Board said. As for write-in responses in June's survey, Guichard said that tariffs 'remained on top of consumers' minds and were frequently associated with concerns about their negative impacts on the economy and prices.' Consumers also cite inflation and high prices as concerns. While dining out was one of the few categories to see spending intentions rise in June, most other categories saw declines. While shoe prices at retail slid 1.6 percent in June from a year ago in May, that's already changing. Gary Raines, chief economist at the Footwear Distributors and Retailers of America (FDRA), told Footwear News that there was mounting evidence of surging average duties per pair on footwear imports. 'These higher duties soon may push the average landed cost of footwear imports sharply higher, which in turn may pressure retail footwear prices to climb later this year,' FDRA's Raines said. Nike last month said it was raising some retail prices at its U.S. stores starting June 1, but not for any goods priced at $100 or less. The sports apparel and footwear brand also won't be raising prices for any kids's footwear or apparel items. In addition, there are no scheduled increases for any Jordan product. The average price uptick for apparel and equipment is between $2 and $10, while footwear currently between $100 and $150 will see increases up to $5 and those starting at $150 and higher will see increases up to $10, a source told FN. Other footwear firms have also tinkered with price increases. Steve Madden Ltd. has also increased prices for select shoe styles, and the firm is also working to factories and suppliers on price concessions so it can keep increases to the consumer within a certain range. And over at Crocs Inc., CEO Andrew Rees said the company is being 'super strategic' on pricing, with some targeted increases. He also expects the industry 'to go up in terms of price' due to tariffs. The next big shopping event for footwear will be back-to-school, which starts as early as July. Hibbett is ready with a new website and app dedicated to seeking kids products, and its set up for shoppers to find the lastest fashion and footwear styles in an easy-to-navigate format. Best of WWD All the Retailers That Nike Left and Then Went Back Mikey Madison's Elegant Red Carpet Shoe Style [PHOTOS] Julia Fox's Sleekest and Boldest Shoe Looks Over the Years [Photos] Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-06-2025
- Business
- Yahoo
Consumer Confidence Falls Again in June
The Conference Board's Consumer Confidence Index fell for the sixth time in seven months in June, erasing some of May's improvement, as uncertainty over tariffs and job prospects weighed on Americans. Nearly 70 percent said a recession was likely, and consumer fears over future business and employment conditions eroded again, even as their assessment of their current job prospects remained positive. Inflation expectations improved, after recent data showed that price increases are slowing even as economists watch for tariff rebounding last month, consumer confidence took a surprising dip in June, as cautious consumers worried about their future job prospects and the possibility of a recession. The Consumer Confidence Index fell by more than five points to a reading of 93.0 in May. The Conference Board's monthly survey showed that tariff worries kept consumers on edge. Nearly 70 percent of consumers believe a recession is likely within the next year, and that's preventing them from making big spending decisions. 'They are sitting on the sidelines and only buying homes, cars and appliances if they absolutely must,' said Heather Long, chief economist at Navy Federal Credit Union. 'This is an 'abundance of caution economy.'' Economists surveyed by The Wall Street Journal and Dow Jones Newswires projected a second month of improvement in the survey, but weakening results on job prospects helped weigh the results down. This marks the sixth decline in seven months for the confidence index, which more closely reflects labor market conditions than other consumer surveys. 'Consumer confidence weakened in June, erasing almost half of May's sharp gains,' said Stephanie Guichard, a senior economist at The Conference Board. 'Consumers were more pessimistic about business conditions and job availability over the next six months, and optimism about future income prospects eroded slightly.' Consumers remain positive about current job prospects, which Guichard said is in line with the recent economic data that shows employers are still hiring. But they offered a pessimistic outlook for tomorrow's job listings, which could indicated trouble for the labor market, which has helped propel the U.S. economy. 'This indicator correlates well with future employment trends and suggests further softness in hiring ahead,' said Nationwide Economist Daniel Vielhaber. Consumers outlook on inflation improved, however, with expectations for price increases slowing to an annual rate of 6% in June, down one percentage point from two months ago. The data follows recent inflation reports that have shown price increases slowing down, even as economists warned of price spikes stemming from U.S. tariff policies. 'Tariffs remained on top of consumers' minds and were frequently associated with concerns about the economy and prices,' Guichard said. 'However, there were a few more mentions of easing inflation compared to last month.' Read the original article on Investopedia
Time of India
24-06-2025
- Business
- Time of India
US consumer confidence weakens, misses expectations in June
US consumer confidence diminished in June, according to survey data released by a research group Tuesday, missing expectations as worries about President Donald Trump 's tariffs and the possibility of higher inflation persisted. The Conference Board 's consumer confidence index dropped by 5.4 points this month to 93.0, from 98.4 in May. "Consumer confidence weakened in June, erasing almost half of May's sharp gains," said Stephanie Guichard, a senior economist at The Conference Board. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like An engineer reveals: 1 simple trick to get all TV channels Techno Mag Learn More Undo She added that the decline was "broad-based," with consumers' assessments of current conditions and expectations of the future both contributing to the deterioration. A consensus forecast of analysts by had instead predicted an uptick to 99.0 points. Live Events Consumers' views of current job availability worsened for a sixth straight month, while they also appeared more gloomy about business conditions and jobs over the next six months, Guichard said. But the main issues affecting their views of the economy remained little changed from the prior month. Trump's sweeping tariffs are still at the forefront for consumers, and "were frequently associated with concerns about their negative impacts on the economy and prices," Guichard said. Inflation and high costs were another key worry, the report said. While consumers were eyeing geopolitics and social unrest, with more references to these factors in June than earlier months, these remained lower on the list of issues impacting assessments. "June's retreat in confidence was shared by all age groups and almost all income groups," said The Conference Board. "It was also shared across all political affiliations, with the largest decline among Republicans," the report added. In June, purchasing plans for homes dipped and more consumers were uncertain about plans to buy big-ticket items overall.
Miami Herald
17-06-2025
- Business
- Miami Herald
Las Vegas Strip casinos can't escape an alarming trend
Consumer confidence rebounded in May after declining for five straight months, though the Conference Board's Expectations Index is still signaling a potential recession on the horizon. The Consumer Confidence Index increased 12.3 points in May to 98, and the Expectations Index, based on consumers' short-term outlook for income, business, and labor market conditions, rose from 17.4 points to 72.8 points. Don't miss the move: Subscribe to TheStreet's free daily newsletter However, the Expectations Index remained below the threshold of 80, which typically signals a recession ahead, the Conference Board revealed in a statement. Related: Las Vegas Strip casino extends pop superstar's sold-out residency "Consumer confidence improved in May after five consecutive months of decline," Stephanie Guichard, senior economist, Global Indicators at The Conference Board, said. "The rebound was already visible before the May 12 US-China trade deal but gained momentum afterwards." The monthly improvement was largely driven by consumer expectations as the three components of the Expectations Index -business conditions, employment prospects, and future income -rose from their April lows. Consumers were less pessimistic about business conditions and job availability over the next six months and regained optimism about future income prospects, Guichard revealed. Consumers' assessments of the present situation also improved. However, while consumers were more positive about current business conditions than in April, their appraisal of current job availability weakened for the fifth consecutive month. The Consumer Confidence Index measures consumer confidence in business conditions, the economy, and the labor market, through a monthly survey conducted by tech firm Toluna for the Conference Board, a non-partisan, not-for-profit think tank. The index declined 8.2 points in April to 85.7 points, while the Expectations Index declined 11.5 points to 55.4 points. Plummeting consumer confidence in April may have played some role in declining Las Vegas Strip win numbers, as total gaming win revenue fell for the third straight month, declining by 2.88% to $646.8 million from $666 million in April 2024, according to the Nevada Gaming Control Board's April 2025 Win Revenue Summary. Related: Las Vegas Strip casino cancels rock superstar's residency shows The Strip's fiscal year gaming win revenue from July 2024 through April 2025 also declined by 3.31% to $7.3 billion compared to $7.55 billion in the same period in 2024. More Las Vegas: Las Vegas Strip Sphere signs another superstar band residencyLas Vegas Strip casino closes country superstar's residencyLas Vegas Strip casino signs global superstar singer to residency Downtown Las Vegas bucked the declining trend with a 1.03% increase in gaming win revenue in April to $83.6 million compared to $82.7 million in the same period in 2024. Reno also saw a large increase of 9.15% to $64.6 million compared to $59.2 million in the same month in 2024. The Nevada Gaming Control Board did not state a reason for the revenue increases in Downtown Vegas and Reno. Nevada's statewide gaming win revenue for April declined by 0.47% to $1.23 billion compared to $1.24 million in the same period in 2024. The state's gaming win revenue also declined by 1.08% to $13 billion compared to $13.1 billion in the fiscal year from July 2024 to April 2025. Nevada's gaming win revenue had a larger decline in March, dropping by 1.1% to $1.27 billion compared to $1.29 billion in the same period in 2024. The fiscal year gaming win revenue also declined 1.1% over the previous year. Related: Las Vegas Strip casino brings back superstar 80s band residency The Arena Media Brands, LLC THESTREET is a registered trademark of TheStreet, Inc.
