www.bethelfinance.com
Bethel Finance news:
Cottage cheese protest leaders reject the Strauss Group Ltd. (TASE:STRS) price cuts as inadequate. They claim that, "the reduction of a limited number of products is of course not adequate, although every bit of savings to the consumer is welcome. The cottage cheese protest expressed the public's demand that prices of consumer products be cut 30% across the board. As long as this has not happened, the public will continue to fight, and will reduce how much it buys of these companies' products."
On Sunday, Strauss announced that it would permanently lower prices on 36 of its products by 5-10%, including: cocoa, Turkish coffee, chocolate, cookies, wafers, and salads.
"Globes" has learned that prices of some of the products on the list have been significantly lowered, whereas some of the products whose prices were lowered are less popular products, which made it convenient for Strauss to add them to the list. For example, Strauss will lower prices for Yad Mordechai jams and Elite cocoa wafers - both of which have limited sales.
Cottage cheese protest leaders, especially the group "Israel is Dear to Us", claim that the lowering of prices on these specific items will not have any effect on the high prices that Israel's second largest food company is charging. They say that the prices are not reasonable for the Israeli consumer to be paying.
Cottage cheese protesters will demonstrate tonight in front of the house of Strauss president & CEO Gadi Lesin in Hod Hasharon.
Strauss' share price fell 1.1% in early trading today to NIS 48.44 giving a market cap of NIS 5.2 billion.
No comments:
Post a Comment