Why Capilano Honey Ltd.’s stock is under pressure?

Coles is removing CZZ’s Allowrie range of products from their shelves: Capilano Honey Ltd.’s (ASX: CZZ) stock fell about 1% on July 06, 2018 after the company’s Allowrie range of products is being removed from Coles shelves. Wesfarmers Ltd owned supermarket Coles has decided to remove CZZ’s Allowrie products from their shelves as it contains honey sourced from China and Argentina, while Coles wants to keep products of Australian producers and support local beekeepers. However, CZZ said that the increase in Australian honey production has allowed the company to provide an increased range of 100% Australian honey products. The company is currently working with Coles to replace Allowrie range of product with one made from 100% Australian honey. Woolworths said that they would not follow suit and would continue to stock the Allowrie honey range of products, which has good quality and is an affordable option for Australian families. Meanwhile, ASX: CZZ stock has risen 4.38% in three months as on July 5, 2018  and is trading at a P/E of 18.25x.


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