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Yahoo
01-07-2025
- Business
- Yahoo
Jacobs coffee maker JDE Peet's unveils brand-led strategy, sets mid-term targets
(Reuters) -Coffee and tea company JDE Peet's unveiled a new strategy on Tuesday that aims to simplify its portfolio and organizational model under its new CEO. The group, which sells coffee, tea and hot chocolate under more than 50 brands globally, targets 500 million euros ($589 million) of net productivity savings, with more than a half of them to be achieved by end of 2027. "Our 'Reignite the Amazing' strategy is brand-led and is centred around three Big Bets: Peet's, L'OR and a strategically selected set of ten iconic brands, led by Jacobs," CEO Rafael Oliveira, who took the role in late 2024, said in a statement ahead of the company's investor day. JDE Peet's said the "big bets" were selected because of their ability to meet both current and emerging consumer needs, driving long-term growth and market relevance. Jefferies analysts wrote ahead of the strategy announcement that the company under its former management team between 2022 and 2024 had made costly strategic decisions, exposing it to poor capital discipline, most notably on U.S. machine expansion which lacked scale and strategic fit. The group has also been affected by a rise in coffee bean prices that has bit into its margins. It said in February it was not expecting the green coffee prices to come down in the near future. It set financial targets for 2030-2032 and beyond, expecting its gross profit to grow between 4% and 7% and adjusted operating profit to rise by 5% to 8%, with a cumulative free cash flow of at least 3.5 billion euros during the period. ($1 = 0.8490 euros) 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
Reuters
01-07-2025
- Business
- Reuters
Jacobs coffee maker JDE Peet's unveils brand-led strategy, sets mid-term targets
July 1 (Reuters) - Coffee and tea company JDE Peet's ( opens new tab unveiled a new strategy on Tuesday that aims to simplify its portfolio and organizational model under its new CEO. The group, which sells coffee, tea and hot chocolate under more than 50 brands globally, targets 500 million euros ($589 million) of net productivity savings, with more than a half of them to be achieved by end of 2027. "Our 'Reignite the Amazing' strategy is brand-led and is centred around three Big Bets: Peet's, L'OR and a strategically selected set of ten iconic brands, led by Jacobs," CEO Rafael Oliveira, who took the role in late 2024, said in a statement ahead of the company's investor day. JDE Peet's said the "big bets" were selected because of their ability to meet both current and emerging consumer needs, driving long-term growth and market relevance. Jefferies analysts wrote ahead of the strategy announcement that the company under its former management team between 2022 and 2024 had made costly strategic decisions, exposing it to poor capital discipline, most notably on U.S. machine expansion which lacked scale and strategic fit. The group has also been affected by a rise in coffee bean prices that has bit into its margins. It said in February it was not expecting the green coffee prices to come down in the near future. It set financial targets for 2030-2032 and beyond, expecting its gross profit to grow between 4% and 7% and adjusted operating profit to rise by 5% to 8%, with a cumulative free cash flow of at least 3.5 billion euros during the period. ($1 = 0.8490 euros)
Yahoo
28-03-2025
- Business
- Yahoo
JDE Peet's receives Fair Pay Leader certification
PRESS RELEASEAmsterdam, March 28, 2025Certification Recognizes Company's Achievements and Commitment to Pay EquityJDE Peet's, the world's leading pure play coffee and tea company, has been awarded the prestigious Fair Pay Leader certification by the Fair Pay Innovation Lab (FPI). This gold-standard certification recognises the absence of any significant differences in overall pay between genders across the company's global workforce and is a testament to JDE Peet's commitment to ensuring fair and equitable pay. A 2024 global gender pay equity study analysed the compensation structures and anonymized remuneration data of approximately 19,000 JDE Peet's employees. The study, which accounted for factors including role, internal job band and differences in work location, concluded that the gap between the pay of men and women is 0.52%. This difference is well under the future EU directive's threshold of 5% and is generally not considered to represent a meaningful gap. JDE Peet's recognition as a Fair Pay Leader follows its recent receipt of the highly regarded 2025 Catalyst Award, both of which underscore the company's commitment to promoting equity and inclusion in the workplace. Rafael Oliveira, CEO of JDE Peet's, commented: 'At JDE Peet's, we want to create a workplace where a diversity of ideas, perspectives, cultures, and backgrounds are welcome. Our workforce represents the people we serve – our consumers. Diversity leads to better business decisions. The Fair Pay Leader certification is a wonderful recognition and does not mean we stop here. We will continue to assess and address equity gaps to create a workplace where talent is fairly recognised and rewarded.' JDE Peet's has been committed to monitoring its gender pay equity position since 2022, when the first pay equity study was conducted, well ahead of regulatory requirements. Since then, JDE Peet's has not only focused on identifying potential gaps but also on ensuring that its policies and practices support equal opportunity. # # # EnquiriesMediaKhaled Rabbani+31 20 558 1735Media@ Investors & AnalystsRobin Jansen+31 6 1594 4569IR@ About JDE Peet's JDE Peet's is the world's leading pure-play coffee and tea company, serving approximately 4,400 cups of coffee or tea per second. JDE Peet's unleashes the possibilities of coffee and tea in more than 100 markets, with a portfolio of over 50 brands including L'OR, Peet's, Jacobs, Senseo, Tassimo, Douwe Egberts, OldTown, Super, Pickwick and Moccona. In 2024, JDE Peet's generated total sales of EUR 8.8 billion and employed a global workforce of more than 21,000 employees. Read more about our journey towards a coffee and tea for every cup at Attachment jde-peets-receives-fair-pay-leader-certificationSign in to access your portfolio
Yahoo
23-03-2025
- Business
- Yahoo
Coffee makers were betting on lower prices — they were wrong
(Bloomberg) — Coffee roasters that were betting on lower prices opted out of hedging. Now consumers will pay the price. Chicago Transit Faces 'Doomsday Scenario,' Regional Agency Says They Built a Secret Apartment in a Mall. Now the Mall Is Dying. LA Faces $1 Billion Budget Hole, Warns of Thousands of Layoffs New York Subway Ditches MetroCard After 32 Years for Tap-And-Go Despite Cost-Cutting Moves, Trump Plans to Remake DC in His Style Companies that typically take positions in the futures market to protect themselves from price fluctuations changed course when prices began rising last year, betting they could secure a better deal later. But supply shortages persisted and prices kept climbing, leaving companies from JDE Peet's NV to Starbucks Corp. no option but to raise costs for consumers. Now, one proxy for buyer hedging is near the lowest level in more than 11 years and roasters are expected to pass their much higher costs onto consumers who are already paying the most ever for coffee. Average prices for a pound of ground roast coffee reached a record $7.25 a pound in February, according to the US Bureau of Labor Statistics. 'The reality is significant price increases are inevitable,' said Rafael Oliveira, chief executive officer of coffee titan JDE Peet's NV, in a February earnings call. Starbucks Chief Financial Officer Rachel Ruggeri said in January that the company's products sold in supermarkets will be affected 'in a more meaningful way' than other areas of its business. Both executives said they expect higher prices to pressure retail sales volumes. Coffee prices surged to a record earlier this year after a drought hurt crops in top producer Brazil. Shortages means the market flipped into a so-called backwardation, with earlier-dated contracts being more expensive than later ones. As a result, holding beans in inventory has become too costly and roasters are operating 'hand to mouth' – purchasing raw beans in very small batches and entering the market at the last possible moment. Cash-strapped traders are also struggling to finance the transport of beans from where they're produced to where they're consumed. 'Roasters are struggling,' said Thiago Cazarini, a broker based in Brazil's largest coffee-growing region. 'Some of them probably at this very moment are working below the cost of the raw materials, of the whole operation.' Smaller to mid-size roasters, meanwhile, are continuing to stay away from the futures market. Gregorys Coffee, a New York-based company with more than 50 locations across the US, used to use futures to lock in prices for almost all of its coffee. But now, given the market structure and high prices, 'most folks that are at our size are not seeing a great opportunity to hedge,' said Chief Executive Officer Gregory Zamfotis. Tomas Araujo, a trading associate at StoneX Group Inc., said roasters are waiting for the market to take a leg lower before putting on new hedges. 'The issue is, I'm not really sure if we're going to get there.' —With assistance from Daniela Sirtori. A New 'China Shock' Is Destroying Jobs Around the World How TD Became America's Most Convenient Bank for Money Launderers Tesla's Gamble on MAGA Customers Won't Work One Man's Crypto Windfall Is Funding a $1 Billion Space Station Dream The Real Reason Trump Is Pushing 'Buy American' ©2025 Bloomberg L.P. Sign in to access your portfolio
