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Wrigley chewed up by U.K. rival; CEO Perez facing challenge as Cadbury strikes big with Stride.(News)(Wrigley Jr. Co. CEO William Perez)(Cadbury Schweppes PLC )
Crain's Chicago Business, February, 2007 by Jargon, Julie
Byline: JULIE JARGON It's a sticky situation for Wm. Wrigley Jr. Co.'s new CEO, William Perez. Sales of chewing gum brands such as Doublemint and Big Red are sagging-and some analysts say there aren't enough new ideas in the pipeline to juice up growth. Meanwhile, British archrival Cadbury Schweppes PLC is riding high on the most successful new gum launch in the last five years: Stride, which has already captured 3% of the U.S.
market since its June debut. Cadbury's U.S. gains come at a time when Wrigley's domestic business appears to have hit a plateau. U.S. sales were flat in the fourth quarter of 2006, as declines in sugary gum brands "significantly offset'' growth in sales of sugar-free gum, Wrigley acknowledged earlier this month. "The trouble spot...
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