TOP NEWS
* Kroger Co.'s fiscal second-quarter earnings exceeded analyst expectations as the Cincinnati-based chain confirmed its previous 2019 guidance. Adjusted EPS of 44 cents surpassed the S&P Global Market Intelligence mean consensus estimate for normalized EPS of 41 cents.
* Juul Labs Inc. is debating whether to fully welcome the Trump administration's plan to ban flavored vaping devices or push back and request exemptions for mint and menthol flavors, The Wall Street Journal reported, citing sources.
FOOD RETAIL & DISTRIBUTION
* Kroger Co. and U.K. online grocery technology company Ocado Group PLC selected Dallas as the location of their fifth U.S. customer fulfillment center. The 350,000-square-foot facility is scheduled to break ground in early 2020 and generate up to 400 jobs, Kroger said.
* Ride-hailing giant GrabTaxi Holdings Pte Ltd.'s food delivery service, GrabFood, said it plans to open more than 50 delivery-only GrabKitchens in Indonesia by the end of 2019. Separately, the South China Morning Post said GrabKitchen could trial dine-in concepts this year depending on how consumers respond, citing Sai Alluri, GrabKitchen head.
* Whole Foods Market Inc. is cutting medical benefits for part-time workers, effective Jan. 1, 2020, Business Insider reported, citing a company spokesperson. The spokesperson reportedly said the changes will affect less than 2%, or about 1,900 of the Amazon.com Inc. unit's nearly 95,000 employees.
* Canadian food distributor Fresh Direct Produce LLC, owned by private equity firm Hammond Kennedy Whitney & Co. Inc., acquired fruit and vegetables wholesaler Islands West Manufacturing Ltd. for an undisclosed sum.
* Casino Guichard-Perrachon SA's attempts to simplify its Latin American operations took a step forward after it gained shareholder approval for its move to acquire an indirect equity interest in its Brazilian retailer Companhia Brasileira de Distribuição, known as GPA, from its Colombian unit Almacenes Éxito SA. Further, GPA subsidiary Sendas Distribuidora SA will launch a tender offer for all of the outstanding shares in Éxito.
* British food retailer J Sainsbury PLC CEO Mike Coupe said fresh food supplies in Britain would be disrupted in the event of a no-deal Brexit due to delay at ports as the Christmas period nears, Reuters reported, citing Coupe's interview with BBC Radio. Separately, Sainsbury's said it aims to cut its plastic packaging by 50% by 2025 and remove 489 tonnes of lightweight loose produce bags by September 2019.
* Dutch grocer Koninklijke Ahold Delhaize NV partnered with Hanshow Technology to introduce digital in-store applications, beginning with electronic shelf labels across its European store network. The companies will also set up a joint innovation lab to develop digital capabilities such as frictionless payment, in-store navigation and in-store advertising.
BEVERAGES
* Anheuser-Busch InBev SA is being investigated by police in India's capital, New Delhi, over alleged tax evasion, Reuters reported. The brewer is appealing a three-year ban for selling its products in the city for the alleged tax evasion.
* Starbucks Corp. appointed three new independent directors: Richard Allison, Domino's Pizza Inc. CEO; Andrew Campion, executive vice president and CFO at Nike Inc.; and Isabel Ge Mahe, Apple Inc.'s vice president and managing director of Greater China.
* Soda giant PepsiCo Inc. launched its first cash-back loyalty program, called PepCoin, in collaboration with payment services providers PayPal Holdings Inc. and Venmo LLC.
* Brown-Forman Corp., the maker of Jack Daniel's whiskey, said Mark McCallum will retire from his position as executive vice president and chief brands officer Dec. 31. Senior Vice President and Managing Director for the Jack Daniel's brands Matias Bentel will succeed McCallum, effective Jan. 1, 2020.
* Scottish labor unions are seeking a 5% salary hike for Diageo PLC workers who are due to go on a strike later in September, Reuters reported. A Diageo spokeswoman reportedly said the unions' claims that the strikes could cost the company £1 million per day did not have "any ground in reality" and could not be verified.
AGRICULTURAL PRODUCTS
* New York-based agribusiness Bunge Ltd. acquired a 30% stake in Brazilian farm supplies distributor Agrofel Grãos e Insumos for an undisclosed sum, Reuters reported, citing a statement by the company.
PACKAGED FOODS
* Nestlé SA said it will aim to achieve zero net greenhouse gas emissions by 2050. The Swiss food giant will also sign the "Business Ambition for 1.5 degrees Celsius" pledge ahead of the U.N. Secretary-General's Climate Action Summit in September.
* Danish milk-products maker Arla Foods signed a memorandum of understanding with the Nigerian government and Kaduna state to purchase, collect, process and market milk from 1,000 local farmers.
* The Unilever Group said it will publish the full list of its global tea suppliers, including those for its Lipton, Pukka and Brooke Bond Red Label brands, to increase transparency across its supply chain. Unilever buys 10% of the world's tea supply.
* Maker of French dairy products Danone SA signed a deal with the Indonesian unit of Range International Ltd., trading as Re>Pal, to convert its mineral water brand AQUA plastic bottles into pallets.
RESTAURANTS
* British pub operator J D Wetherspoon PLC reported fiscal 2019 EPS after exceptional items of 69 pence, up 9.2% from 63.2 pence a year ago. For 52 weeks ended July 28, operating profit declined 0.3% year over year to £131.9 million from £132.3 million. Like-for-like sales grew 5.9% for six weeks to Sept. 8.
INDUSTRY NEWS
* Executives at 145 U.S. companies, including Beyond Meat Inc., Impossible Foods Inc. and DoorDash Inc., urged the Senate to pass a law requiring background checks on all gun sales, labeling gun violence a "public health crisis," according to a letter cited by The New York Times.
* China will exempt additional U.S. agriculture products, including soybeans and pork, from tariffs ahead of the new round of negotiations between the two countries scheduled in October, Reuters reported, citing Xinhua News Agency.
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The day ahead
Early morning futures indicators pointed to a higher opening for the U.S. market.
In Asia, the Hang Seng rose 0.98% to 27,352.69, and the Nikkei 225 rose 1.05% to 21,988.29.
In Europe, around midday, the FTSE 100 was down 0.06% to 7,340.47, while the Euronext 100 was up 0.26% to 1,094.53.
On the macro front
The retail sales report, the import and export prices report, the business inventories report, the consumer sentiment report and the Baker-Hughes Rig Count report are due out today.
Click here to read about today's financial markets, setting out the factors driving stocks, bonds and currencies around the world ahead of the New York open.
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