Analysts say the adjustment is not expected to be significant, and a company official called the move "shifting some numbers around." The restatement will affect fiscal years 1999 through the first two quarters of 2002, and would involve less than $100 million in adjustments.
Union workers at the South Baltimore Domino Sugar plant are striking against the company's proposal to scrap two paid holidays and change pension plans and health care benefits. The strike marks the first public sign of uneasy relations between workers and American Sugar Refining, the plant's owners since November 2001.
Dietz & Watson has a cleaning regimen designed to keep bacteria at bay. While the stringent quality control increases the plant's costs, the company says "it's well worth every penny." The company, which has 800 employees and more than $150 million in annual sales, has never had a recall.
Spending on Internet advertising is projected to rise to about $6.7 billion in 2003, up from about $6.4 billion in 2002, according to a study by eMarketer. Online ad spending will continue to rise at least through 2005, when it is expected to hit $8.1 billion, the study says.
The 45-year-old company is combining product placement, new marketing ideas, new flavors and its own line of retail boutiques to further expand its market. Chupa Chups has invited celebrities such as Brandy, Giorgio Armani and Madonna to try their products.