Worthington says rival's ad campaign lifted sales of its own meat-free foods

Article Abstract:

Worthington Foods Inc.'s sales of meat-free foods is up due to rival company, Gardenburger Inc., $14 million television advertisement campaign. The sales of Worthington's Morningstar Farms meat substitutes is up three times what it was before the Gardenburger campaign. The industry sales of meat substitutes ending May 24 is up 73% from a year earlier. Worthington took advantage of the advertisement campaign with a coupon program at supermarkets offering a discount on Morningstar Farms products to everyone buying Gardenburger products.

Comment:

Benfiting from rival's advertising campaign

Sales & consumption, Industry Market Data, Television, Frozen Specialty Food Manufacturing, Promotion, Frozen Specialties NEC, Frozen foods, Worthington Foods Inc.

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Petco adopts plan of shareholder rights against potential bids

Article Abstract:

Petco Animal Supplies Inc. has come up with a stockholder rights plan that is designed to prevent possible acquisition attempts. Petco's shares experienced setbacks during the first-half of 1998. Brian K. Devine, the chairman and CEO of Petco, asserted that the company's stock is being traded at 70% book value. The shareholder plan will give stockholders the ability to buy a partial share of a new class of preferred stock for every common share they own.

Comment:

Comes up with a stockholder rights plan that is designed to prevent possible acquisition attempts

Stockholder data, Misc Retail Stores, All Other Miscellaneous Store Retailers (except Tobacco Stores), Retail trade, Retail stores, Petco Animal Supplies Inc.

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