Business Services Industry
Britain-Based Diageo Encounters Problems with Fast-Food Arm.
Knight Ridder/Tribune Business News, September, 2001
Daily Mail, London Knight Ridder/Tribune Business News
Sep. 9--Paul Walsh dreams of making drinks and burger group Diageo cool and trendy, promoting drinks such as Smirnoff Ice and Archers Aqua into best- sellers through aspirational advertising campaigns.
The Diageo chief executive's premium drinks have so far proved a hit in fashionable clubs and bars. Unfortunately, in this health-conscious age, the group remains saddled with a decidedly unfashionable burger chain.
While the alcohol side saw a strong advance in profits, Burger King had a dismal year. Worries over BSE in Europe, and fewer openings in the US left profits 12 percent slimmer at UKpound 177 million as sales fell 4 percent.
Walsh plans several changes, such as...
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