retail news in context, analysis with attitude

...with brief, occasional, italicized and sometimes gratuitous commentary…

• The Atlanta Journal-Constitution reports that "Coca-Cola said it is laying off 421 people at its headquarters and two other Atlanta locations on July 15, according to a notice sent to state officials.

"The lay-offs, which include 334 at its headquarters near downtown Atlanta, are part of about 1,200 job cuts then-Coca-Cola President James Quincey announced just before he stepped in as the company’s new chief executive on May 1 ... The company’s plans to eliminate 1,200 jobs from a pool of 5,500 corporate positions is part of Quincey's goals to re-tool Coke’s product line-up, bottling operations and other parts of the company to rev up revenue and profit growth. The company has said it plans to use part of the savings — about $800 million through 2019 — to reinvest in new products and marketing."

Publishers Daily reports that the Rodale publishing company - long a producer of magazines such as Prevention that could be found on supermarket checkout lane racks - "is considering 'strategic alternatives' for the company, including a potential sale."

According to the story, "The announcement didn’t disclose an asking price for the family-owned publisher, and also left the door open to other options, such as the sale of specific properties, groups of properties, or individual businesses. Rodale is retaining Allen & Company LLC to serve as a financial advisor during the strategic review process."

• The Financial Times has a story making it very clear that some people have all the luck.

It is about actor George Clooney, who back in 2013 with his friend, restaurateur Randy Gerber (who is married to supermodel Cindy Crawford), started producing tequila with a local distillery when they were building houses in Mexico. Informed that they were making so much of it that they needed a commercial license, Clooney and Gerber turned the tequila - called Casamigos - into a commercial venture - and over the last two years, the ultra-premium brand has grown more than 50 percent annually.

Yesterday, they sold Casamigos to Diageo - for $700 million, plus the possibility of another $300 million depending on the brand's performance.

As the great Albert Brooks tweeted yesterday, "It is nice when someone like (Clooney) can catch a break."
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