beverages

JetBlue JBLU 5.01% Airways Corp. plans to launch a hostile takeover attempt for discount carrier Spirit SAVE 3.85% Airlines Inc., according to people familiar with the matter, after Spirit rejected JetBlue’s $3.6 billion offer in favor of an existing deal with Frontier Airlines. ULCC 4.56% JetBlue plans to appeal directly to…

WASHINGTON—The House Oversight Committee has launched an investigation into the four major manufacturers of baby formula, including the makers of Similac and Enfamil, asking for information related to a supply shortage that has left many brands out of stock. In letters sent to the chief executives of the companies, House Oversight Chairwoman Carolyn Maloney (D., N.Y.) and Rep. Raja Krishnamoorthi (D., Ill.), the top Democrat on the panel’s economic and consumer…

Chobani Inc. finance chief Jody Macedonio will exit the company next month, the latest executive departure after the yogurt maker put plans for its initial public offering on hold. Ms. Macedonio joined the New Berlin, N.Y.-based company in 2020 to help prepare the company for its public debut. A search for a new CFO is under way, according to an internal memo from Chief Operating Officer Kevin Burns to staff that was reviewed…

Dutch Bros Inc.’s BROS -26.94% shares plunged to new lows Thursday after the company warned of slowing sales growth as inflation keeps younger customers away from their afternoon coffee breaks. The drive-through coffee chain on Wednesday said that it expects same-store sales, a key industry metric that reflects sales at locations open at least 15 months, would be flat for the year, down from an earlier view of rising in the…

Baby-formula manufacturers and retailers say they are working to address a long-running shortage in products on store shelves but the hardships facing U.S. families may take months to abate. Abbott Laboratories, ABT 1.59% producer of Similac baby formula, said it is bringing products from its factory in Ireland to the U.S. as it continues talks with the Food and Drug Administration to restart production at its factory in Michigan. However, the company has said it would…

Beyond Meat Inc. BYND -13.83% reported a wider-than-expected loss in its recently completed quarter because of higher spending, sending shares of the meat-alternative maker lower in after-hours trading. Beyond Meat Chief Executive Ethan Brown said cost-intensive measures the company took to support strategic launches weighed on its bottom line. “We recognize that the decisions we are making today in…

Abbott Laboratories said it could resume infant formula production within two weeks at a Michigan manufacturing plant that has been shut since February because of bacterial contamination concerns, exacerbating a nationwide formula shortage. The Illinois-based company said Wednesday it would resume production pending approval from the Food and Drug Administration, which has been conducting an investigation into whether bacterial contamination at the plant…

E. coli illnesses linked to frozen pizza made by Nestlé SA NSRGY -0.11% in France have killed two children and sickened dozens of others, presenting the packaged-foods giant with its most serious food-safety issue in years.French authorities last month launched a criminal investigation into Nestlé for involuntary manslaughter, deceitful practices and endangering others, according to France’s Directorate General for Competition, Consumer Affairs and Fraud Prevention, a…

Tyson Foods Inc. TSN 1.30% reported soaring profits as the company raised prices for beef, chicken and pork, citing higher costs. Tyson, TSN 1.30% the biggest U.S. meat processor by sales, said it increased prices for beef by an average 23.8% over the three months ended April 2, while its chicken prices increased 14.4% and 10.8% for pork. Tyson said its cost of goods sold increased by 15% over the quarter as the…