Keurig to create 550 jobs in Douglas County
Keurig Green Mountain Inc. (Keurig) (NASDAQ: GMCR) will invest $337 million to open a manufacturing facility in Douglas County and create about 550 jobs over the next five years, Gov. Nathan Deal announced Thursday.
The new 585,000-square-foot manufacturing center will support the production of pods for the company’s new Keurig Cold platform, an in-home cold beverage system designed to produce quick, convenient cold drinks.
In February, Keurig and Coca-Cola announced the companies had entered into a long-term, global strategic partnership to collaborate on the development and introduction of Coca-Cola’s global brand portfolio for use in the Keurig Cold beverage system. The system is expected to be available in 2015.
Georgia’s unemployment rate rises to 7.2 percent in May
ATLANTA — Georgia’s seasonally adjusted unemployment rate for May was 7.2 percent, up three-tenths of a percentage point from a revised 6.9 percent in April, the state Department of Labor announced Thursday.
The preliminary rate for April was 7.0 percent, but it was revised down one-tenth of a percentage point. The rate in May of last year was 8.4 percent.
“This is a seasonal rate increase that is typical for May,” said labor commissioner Mark Butler.
In Savannah, the number of jobs available increased by 2,600 over May 2013 to 165,400, an improvement of 1.6 percent.
New unemployment claims in Savannah dropped by 368 year to year, a 20.6 percent decline.
Kroger 1Q results top Street; boost outlook
CINCINNATI — Kroger saw a 4 percent jump in first-quarter profit, and the nation’s biggest supermarket chain raised its earnings forecast for the year.
The Cincinnati company — which operates 12 stores in the Savannah area and also runs Ralphs, Fry’s and other chains — earned $501 million, or 98 cents per share, for the quarter. That compares with $481 million, or 92 cents per share, a year ago.
Removing non-recurring charges, The Kroger Co. earned $1.09 per share, four cents better than analysts polled by FactSet had been projecting.
Revenue jumped 10 percent to $32.96 billion, which also edged out expectations due in part due to a new acquisition, the grocer and pharmacy Harris Teeter.
Sales at established locations climbed 4.6 percent, excluding fuel.
Kroger now foresees fiscal 2014 adjusted earnings between $3.19 and $3.27 per share. Previously it predicted $3.14 to $3.25 per share.
The company also increased its full-year guidance for sales at established locations, excluding fuel. It now anticipates 3 percent to 4 percent growth. Its prior outlook was for a 2.5 percent to 3.5 percent increase.