Word: profitable
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Dates: during 1990-1999
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Post will now issue a single coupon good for any of its products. The company hopes to save some $200 million in marketing and promotion costs, which will go a long way toward recouping the $60 million in operating profit it will forgo as the result of the $260 million in price cuts...
...Morris, whose price cuts on Marlboros were monumentally successful, can well afford the gamble with cereal. A $53 billion packaged-goods powerhouse, Philip Morris is larger than Kellogg ($7 billion) and General Mills ($8.3 billion) combined. Cereal accounts for a mere 2.2% of sales and about 2.1% of operating profits, so the company can easily offset any losses elsewhere. For instance, it jacked up its cigarette prices 4' a pack earlier this month, a move expected to recapture some of the revenue losses from Post cereals. Just last week Philip Morris said its first-quarter profit rose...
...same token, No. 1 Kellogg will desperately seek to hold the line on pricing and protect its hefty profit margins. Kellogg relies on domestic cereal sales for 42% of its revenues and 43% of its $1.26 billion in operating profits. The company said it would lower prices only on a brand-by-brand basis. For instance, this month it lowered the price of its Raisin Bran, a fiercely contested item, 15%, to $3.40 for a 20-oz. box. No. 2 General Mills was also standing pat. Big G took the first stab at price cuts two years ago, when...
...Getting Profit on the air was no simple feat. Part of the credit for rescuing the show from a lengthy development hell goes to executive producer Stephen Cannell, who funded the pilot and was able to persuade initially reluctant programmers at Fox to pick it up. Over the years Cannell has mounted an incredibly wide range of dramas--everything from Wiseguy to the less cerebral The A-Team and Silk Stalkings. Initial ratings for Profit were weak, but Cannell thinks he can maintain his track record. "I broke all the rules with The Rockford Files,'' he says, referring...
...candle shops cannot solve every city's economic woes. By that time, however, Rouse had retired from active management of his company and formed the Enterprise Foundation, which has financed 61,000 homes for the poor since 1981 and worked on solving inner-city problems like joblessness and drugs. Profit, he insisted, should never be the primary motive for a developer: "What should be important is to produce something of benefit to mankind. If that happens, then the profit will be there." Rouse was one master builder whose idealism, like his ideas, never flagged...