Restaurant Brands International Reports Second Quarter 2021 Results

Restaurant Brands International reported financial results for the second quarter ended June 30, 2021.

José E. Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "We are encouraged by the momentum across our business – including sales increases driven by quality menu items, rapid adoption of our digital channels by our guests and an acceleration in new restaurant openings around the world by our franchisees who believe strongly in our brands and business model."

Cil continued, "We also announced an increase in our share buyback authorization to $1 billion over the next two years, demonstrating our confidence in the...

Bloomin' Brands Announces 2021 Q2 Financial Results and Strong Operating Margin Expansion

Bloomin’ Brands, Inc. reported results for the second quarter 2021 (“Q2 2021”) compared to the second quarter 2020 (“Q2 2020”).

CEO Comments

“Q2 represented another quarter of strong results. We are well positioned to grow sales and capture additional market share,” said David Deno, Chief Executive Officer. “We are making great progress improving margins, increasing cash flow and retaining off-premises sales as dining rooms have reopened. Our sales momentum has...

Vejii Holdings Signs Agreement with UNFI

Vejii Holdings Ltd. announced that as of July 15 it has entered into an agreement with United Natural Foods, Inc. (UNFI), the largest publicly traded grocery distributor in the United States and Canada.

Under the terms of the agreement the company expects to greatly improve overall margin based on a tiered discount structure. This agreement will improve reliability and consistency of supply to over 5000 products across 200 categories.

"The customer shopping experience is our number priority. Having a strong relationship with...

Greater Omaha Packing Recalls Raw Beef Products Due to Possible E. Coli 0157:H7 Contamination

Greater Omaha Packing, an Omaha, Neb. establishment, is recalling approximately 295,236 pounds of raw beef products intended for non-intact use that may be contaminated with E. coli O157:H7, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The raw beef products intended for non-intact use were produced on July 13, 2021.

The products subject to recall bear establishment number “EST. 960A” inside the USDA mark of inspection. These items were distributed to further processors in Illinois...

NovoNutrients Scaling Up with Project Funding Plus $9M in Equity

NovoNutrients, an alternative proteins company that uses industrial carbon dioxide emissions, cheap hydrogen and naturally occurring microbes to create high-grade proteins for human and animal consumption, today announced a $4.7 million raise led by Hong Kong-based global venture firm, Happiness Capital.

NovoNutrients previously raised $4.3 million in venture backing, as well as a multiple of that in non-dilutive, corporate project funding commitments. NovoNutrients will use the project funding to complete its industrial pilot program, which captures CO2 emissions, at an oil and gas... 

UNFI Announces Appointments of Sandy Douglas and Jack Stahl 

United Natural Foods announced the appointment of J. Alexander (Sandy) Miller Douglas to the role of Chief Executive Officer and a member of its Board of Directors effective August 9, 2021. Mr. Douglas is a proven, customer-focused, strategic leader who brings a broad background and expertise in distribution, sales, marketing, and e-commerce as the Company’s new CEO. Mr. Douglas was selected after an extensive search to replace Mr. Steven Spinner, who earlier announced his retirement as CEO and who will concurrently retire from the Board, both effective August 9, 2021. Mr. Spinner will continue to provide Management and Board advisory services to UNFI through a transition period for up to one year after his retirement.

Mr. Douglas most recently served as Chief Executive Officer of Staples, Inc., leading the North American business-to-business distribution platform’s strategic transformation and guiding the Company throughout...

ANALYSIS: Chicken Cold Storage: Break out the Broom

Chicken marketers are breaking out the figurative brooms as they search for any additional supplies left in the freezers...

Taco Bell Celebrates Year of Digital Acceleration by Spicing Up Rewards Program

The Taco Bell Rewards program celebrates a successful first year with more digital innovations and in-restaurant experiences for its fans. In true Taco Bell fashion, the brand is rejoicing in the biggest way possible and giving away free tacos for a year to one hundred lucky winners.

Taco Bell Rewards and the Taco Bell app have never been more rewarding. Now, the brand is expanding its digital capabilities, allowing fans to earn points on purchases made in-restaurant, through drive-thrus, and on digital kiosks. The additional access points make it easier to...

Nathan's Famous Doubles the Number of Ghost Kitchens Worldwide Amid COVID-19 Pandemic

Nathan’s Famous doubled the number of ghost kitchens worldwide since June 2020. The brand opened its 223th ghost kitchen, bringing the brand’s presence to over 18 countries across the globe. This rapid growth of ghost kitchens comes from the development of a new brand, Wings of New York, as well the revival of the Arthur Treacher’s brand.

"We are proud to announce that we have doubled our ghost kitchens across the globe,” states James Walker, Senior Vice President, Restaurants. “We could not have done this without...

Tyson Fresh Meats Leader Testifies About Beef Industry at Senate Hearing

Shane Miller, group president of Tyson Fresh Meats, the beef and pork unit of Tyson Foods, testified about the beef industry during a hearing held today by the U.S. Senate Committee on the Judiciary. Below is Miller’s written testimony:

Chairman Durbin, Ranking Member Grassley, members of the Judiciary Committee, thank you for inviting me here today.

I proudly represent Tyson Foods, a company based in Springdale, Arkansas, and founded nearly a century ago by John W. Tyson, who started this business trucking chickens to markets across the Midwest...

Quick 'N Eat Angus Beef Patties and New Burger Product Lines Now Sold in U.S. Walmart Locations

Quick 'N Eat is introducing authentically flame-grilled beef patties to frozen, fully cooked meat aisles at Walmart locations across the country.

The rapidly growing producer of affordable, high-quality beef products has also extended its products within the fully cooked burger category, including an all-new turkey burger. Now available at...

Albertsons Reports First Quarter Fiscal 2021 Results

Albertsons Companies reported results for the first quarter of fiscal 2021, which ended June 19, 2021.

First Quarter of Fiscal 2021 Highlights

- Identical sales decreased 10.0%; on a two-year stacked basis identical sales growth was 16.5%
- Sustained digital sales levels; on a two-year stacked basis digital sales growth was 276%
- Net income per Class A common share of $0.78; two-year CAGR of 212%
- Adjusted net income per Class A common share of...

Experts Agree: Livestock Markets Not Broken; Affected by Supply and Demand

With cattle futures reaching new multi-year highs this week, The North American Meat Institute today submitted testimony to the Senate Judiciary Committee underscoring the supply and demand fundamentals of beef and livestock markets and opposing further government intervention that will result in unintended consequences.

“Industry experts, market participants and economists testifying before three different congressional committees in the past two months have found that beef and cattle markets have behaved predictably given supply and demand pressures,” said Julie Anna Potts, President and CEO of the North American Meat Institute...

Proof of Vaccination to Dine? Some Restaurants Introduce New Requirements To Stop Spread of COVID-19

On your way out to dinner you check your pockets for your keys, phone and wallet. Now add your vaccination card or negative COVID test into the mix. 

While that may not be a reality across the United States just yet, a growing number of restaurants are requiring proof of vaccination before allowing a customer to dine indoors. 

Like the mask mandates, requiring proof of vaccination is up to each business. And a growing number of restaurants in big cities are attempting to...

Yum! Brands Reports Second Quarter Results

Yum! Brands, Inc. reported results for the second-quarter ended June 30, 2021. Worldwide system sales excluding foreign currency translation grew 26%, with 23% same-store sales and 2% unit growth. Second-quarter GAAP EPS was $1.29, an increase of 91% over the prior year quarter. Second-quarter EPS excluding Special Items was $1.16, an increase of 41% over the prior year quarter.

DAVID GIBBS COMMENTS

David Gibbs, CEO, said “Our strong second-quarter results, led by record unit development and 23% same-store sales growth are a testament to our iconic brands, world-class talent, and best-in-class franchisees. I’m proud that each of our divisions reported positive same-store sales growth on a 2-year basis, a step up...

Pilgrim’s Pride Reports Second Quarter 2021 Results with Growth in Sales

Pilgrim’s Pride Corporation reported its second quarter 2021 financial results.

Second Quarter Highlights

- Net Sales of $3.64 billion, up 29% from prior year.
- Consolidated GAAP Operating Income margin of (3.4)% with GAAP Operating Income margins of (10.0)% in U.S., 17.5% in Mexico and 2.3% in Europe. Adjusted U.S. Operating Income margin of 7.8%.
- GAAP Net Loss of $(166.7) million. Adjusted Net Income of $153.8 million or adjusted EPS of $0.63.
- Adjusted EBITDA of $371.6 million, or...

USDA Statement on Confirmation of African Swine Fever in the Dominican Republic

The U.S. Department of Agriculture’s (USDA) Foreign Animal Disease Diagnostic Laboratory has confirmed African swine fever (ASF) in samples collected from pigs in the Dominican Republic through an existing cooperative surveillance program.

USDA’s Animal and Plant Health Inspection Service (APHIS) has numerous interlocking safeguards in place to prevent ASF from entering the United States. Pork and pork products from the Dominican Republic are currently prohibited entry as a result of existing classical swine fever restrictions. Additionally, the Department of Homeland Security’s Customs and Border Protection (CBP) is increasing inspections...

ANALYSIS: Turkey Cold Storage: Hard to Sell from an Empty Wagon

After a great deal of anticipation, the latest release of USDA’s Cold Storage Report lends credence to what many participants have been suspecting, especially those who have been following Urner Barry’s Weekly Cold Storage Estimate...

Hesse Enterprises Acquires Ideal Meat & Provisions

Hesse Enterprises announced the acquisition of Ideal Meat & Provisions, Inc. located in Northridge, California. The new entity will assume the name Ideal Meat, LLC.

“We are proud to bring Ideal Meat & Provisions into the HEI Family of Companies. Larry Vad and his team have always excelled at producing the highest quality of products and delivering on customer expectations, staple ideals for all Hesse Enterprise Companies. We will build on those strengths to grow Ideal Meat to...

Daring Brings Plant-Based Chicken To Whole Foods Market

Daring has announced its Original Pieces and Original Breaded Pieces are available for consumers to purchase in select Whole Foods Market locations across the U.S. starting August 2021. Daring's entry into Whole Foods Market is a significant retail growth moment for the brand, landing in the beloved retailer just 18 months after launching.

Daring will add to Whole Foods Market's renowned portfolio of premium ingredient products with its Original Pieces and Original Breaded Pieces, both available in...

HelloFresh Market Launches in U.S., Expanding Beyond Weeknight Dinners to Everyday Essentials

HelloFresh announced the launch of HelloFresh Market, an online store offering customers a range of add-ons, from quick meals to pantry essentials. The Market gives customers a convenient way to get breakfast options, ready-to-heat meals or everyday items – such as fresh produce, snacks, desserts, sides, spice blends, grocery essentials, and more – delivered to their doorstep simply by adding them to their weekly HelloFresh order. The range of Market offerings will be rolling out to all customers across...

Zoglo's Incredible Food Corp. Announces 12 New Products into the Canadian Retail Market

Zoglo's Incredible Food Corp. announced the introduction of 12 new plant-based food products from its Incredible™ product line into the Canadian retail market. The new products are designed to provide customers with plant-based alternatives for existing consumer favourites such as shawarma, meatballs, chicken tenders and strips.

"We are very pleased to be expanding our product line in Canada and look forward to Zoglo's continuing to...

Chicken Marketers Urged to Meet Needs Emerging from the Pandemic

With an estimated 20% of the workforce working at home beyond 2021, there will be 30 million meal occasions daily that used to be lunches consumed away from home. According to research presented today at the 2021 Chicken Marketing Summit, this presents an unprecedented opportunity for innovation for the poultry industry.

The National Chicken Council (NCC) and WATT Global Media presented the results of a study that focused on anticipated US consumer behavior post-pandemic to identify opportunities for chicken to gain market share in home food preparation and the upcoming...

Pork Quarterly Q3 2021: Looking for Growth Amid Uncertainties

Great volatility in Chinese hog and pork prices is rippling through the global market. China’s slaughter rates were unexpectedly high in Q2, pushing pork production up 35.9% YOY in 1H, according to official data. The sudden supply increase resulted in a sharp price decline and negative results in both farming and trading in 1H, pointing to low pork imports into China in Q3. While we expect hog and pork prices to rebound in Q3, the estimated high frozen pork inventory will impose a lot of downward pressure on prices. We expect the slowdown of imports in the coming months will reduce full year imports from 2020’s record levels by 10% to 20%. This will lead to a redistribution of pork trade in the global market and could place downward pressure on pork prices in exporting regions.

Eat Beyond Portfolio Company Nabati Foods Patents New Plant-Based Liquid Egg

Eat Beyond Global Holdings Inc., an investment issuer focused on the global plant-based and alternative food sector, is announcing that its portfolio company Nabati Foods Global Inc. ("Nabati Foods") has patented its new plant-based liquid egg product, Nabati Plant Eggz, in Canada, the United States, and Australia, and is in the process of filing in Europe, and China as well.

The liquid egg alternative is made from lupin and pea protein to mimic the consistency and texture of conventional chicken eggs. Nabati Plant Eggz are designed to be an easy substitute for...

PODCAST: UK Beef Chats Episode 26

This week on UK Beef Chats, market expert Mike Nesbitt discusses labor shortages, pandemic pressure on the supply chain, and elevated prices.

PODCAST: UK Beef Chats Episode 25

This week on UK Beef Chats, market expert Mike Nesbitt discusses how different parts of the supply chain are mitigating elevated prices and supply issues. Also covered are notable trends in the imports market.

Wingstop Reports Fiscal Second Quarter Financial Results

Wingstop announced financial results for the fiscal second quarter ended June 26, 2021.

Highlights for the fiscal second quarter 2021 compared to the fiscal second quarter 2020:

• System-wide sales increased 15.8% to $589.7 million
• 45 net new openings in the fiscal second quarter 2021, an increase of 13.1%
• Domestic same-store sales increased 2.1%
• Domestic restaurant AUV increased to approximately $1.6 million, compared to $1.4 million in the prior fiscal second quarter
• Digital sales increased to 64.5% of sales, compared to 63.7% in the prior fiscal second quarter
• Total revenue increased 11.9% to...

McDonald's Reports Second Quarter 2021 Results

McDonald's Corporation announced results for the second quarter ended June 30, 2021.

"Our performance is a continued demonstration of the broad-based strength and resiliency of our business as global comp sales in the second quarter increased nearly 7% over 2019. For 65 years, we've created iconic experiences for billions of people around the world. Along the way, we've always focused on following our customers' needs, finding the most convenient and engaging ways for them to enjoy McDonald's. It's clear that...

Bunge Reports Second Quarter 2021 Results

Bunge Limited reported second quarter 2021 results.

• Q2 GAAP EPS of $2.37 vs. $3.47 in the prior year; $2.61 vs. $1.88 on an adjusted basis excluding certain gains/charges and mark-to-market timing differences
• Continued strong Agribusiness execution across the global network
• Outstanding Refined and Specialty Oils results driven by increasing demand and record refining capacity utilization
• Increasing full-year adjusted EPS outlook to at least...

Popeyes Says Goodbye to the Chicken Wars as Their New Game Changing Nuggets Hit Stores Nationwide

Popeyes announced its new Chicken Nuggets are now available in restaurants in Canada, the U.S. and Puerto Rico. Fans of Popeyes can now enjoy the same taste and quality from the iconic Chicken Sandwich, but now in pieces. With that Popeyes says goodbye to the chicken wars by offering piece, 8 piece.

“The launch of our Chicken Sandwich was incredible, and we’re humbled by the amount of love and positive reviews, but at the same time many claimed that it started the chicken wars. Now, it’s time to say goodbye to the chicken wars and celebrate our new Nuggets, because...

Consumer Confidence Relatively Unchanged in July

The Conference Board Consumer Confidence Index was relatively unchanged in July, following gains in each of the prior five months. The Index now stands at 129.1 (1985=100), up from 128.9 in June. The Present Situation Index—based on consumers’ assessment of current business and labor market conditions—rose from 159.6 to 160.3. The Expectations Index—based on consumers’ short-term outlook for income, business, and labor market conditions—was virtually unchanged at 108.4, compared to 108.5 last month.

Consumer confidence was flat in July but remains at its highest level since February 2020 (132.6),” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “Consumers’ appraisal of present-day conditions held steady, suggesting...

ADM Reports Record Second Quarter Earnings; Expects Momentum to Continue in Second Half

ADM reported financial results for the quarter ended June 30, 2021.

“It was yet another excellent quarter for ADM, as our team delivered record earnings, with strong year-over-year profit growth across all three business units”

“This is a very different ADM than even a few short years ago, and our transformation is far from...

Sweet Earth Foods Debuts New Plant-Based Breakfast Bowls and Reformulated Deli Slices Nationwide

Plant-based foods innovator Sweet Earth Foods is announcing the nationwide launch of their new heat-and-eat Breakfast Bowls and reformulated, ready-to-eat Deli Slices. As consumers return to on-the-go busy lifestyles, these prepared meal and plant-based protein offerings provide quick plant-based solutions.

The three new Sweet Earth Breakfast Bowls meet this demand and are inspired by classic regional scrambles, all while offering between 17 - 20 grams of plant protein and three to five grams of fiber in every bowl. New flavors found in the frozen meals section include...

Dr. Praeger’s Launches Four New Products Nationwide at Whole Foods Market

Dr. Praeger’s Sensible Foods announced the introduction of four new products to Whole Foods Market shelves nationwide.

Beginning in August, Whole Foods shoppers can find Dr. Praeger’s Cauliflower Veggie Burger, Perfect Burger, Original Chick’n Littles and Spinach Littles Value Pack on shelves at their local Whole Foods. These new products join an existing array of Dr. Praeger’s products that Whole Foods customers have been purchasing for years, including the California Veggie Burger, the brand’s #1 selling SKU at Whole Foods and the brand’s Perfect Sliders, introduced last year...

Yum! Brands Annual Global Citizenship & Sustainability Report Shows Company's Commitment to Growth

Yum! Brands, Inc. released its annual Global Citizenship & Sustainability Report, highlighting the Company’s strategic investments in socially responsible growth, risk management and sustainable stewardship of its people, food and impact on the planet. Yum! and its KFC, Pizza Hut, Taco Bell and The Habit Burger Grill brands made progress in critical areas including climate action, food safety and creating greater equity and opportunity across its system.

“2020 marked a turning point for communities and businesses around the world, as the pandemic deepened existing societal issues and inequalities"...

Sysco Partners with SAVRpak to Ensure Meals Stay Fresh and Crisp in Transit

Sysco Corporation announced an exclusive partnership that will deliver SAVRpak’s patented food preservation technology to independent and local chain restaurants nationwide. Through their agreement, Sysco will add SAVRpak “freshness packs” to its Cutting Edge Solutions platform, making this technology immediately available to order.

Developed by an aerospace engineer, SAVRpak is a frozen, peel-and-stick patch that removes moisture from the air of a food container, thereby keeping it away from the meal and...

McDonald’s Creates Customer Experience Team; Names Manu Steijaert Global Chief Customer Officer

McDonald's Corporation announced the creation of a new Customer Experience team to transform the way customers engage with the McDonald’s Brand. This team brings together the Company’s Data Analytics, Digital Customer Engagement, Global Marketing, Global Restaurant Development and Restaurant Solutions, enabling McDonald’s to create an unparalleled customer experience at each physical and digital customer touchpoint.

To lead the new team, McDonald’s has promoted Manu Steijaert to the newly created role of Executive Vice President and Global Chief Customer Officer, effective August 1. Steijaert will report to...

ADM Fastens Growth of Global Alternative Protein Platform with Planned Acquisition of Sojaprotein

Global nutrition leader ADM announced that it has reached an agreement to acquire Sojaprotein, a leading European provider of non-GMO soy ingredients.

Established in 1977, Serbia-based Sojaprotein has sales into 65 countries, offering a wide array of non-GMO vegetable protein ingredients for an extensive list of European and global customers in the meat alternative, confectionary, protein bar, pharmaceutical, pet food, and animal feed segments. The company had more than...

Tyson Foods Integrating the Five Domains Animal Welfare Framework Across Global Operations

Tyson Foods is evolving its approach to animal welfare by integrating a new welfare framework across its global operations, known as the Five Domains.

Tyson’s Office of Animal Welfare plays an important role in ensuring the company’s vision for animal welfare becomes a reality: to be the world leader in animal welfare through compassionate care based in sound science. Part of being a leader means being open to creative thinking, innovation, and evolving knowledge and practices. The Five Domains, as devised by Professor David Mellor and colleagues...

Technomic Reveals How the Global Chicken Menu Category is Poised for Growth

Technomic released a deep dive into the chicken menu category uncovering global foodservice sales, COVID-19’s impact on the category, consumer consumption insights and preferences, menu trends, and the top global and leading local chains, with the 2021 Chicken Global Menu Category Report. This report is a deliverable of the Global Foodservice Navigator program, which offers the tools and guidance to remain ahead of consumer, menu and operator trends across 25 countries.

“Chicken chains have been resilient amid the pandemic and the menu category remains primed for future growth,” explains Aaron Jourden, senior research manager of global at Technomic. “With accelerating competition among...

Taco Bell Unveils Latest Menu Round-up

After putting the finishing touches on its new streamlined menu to make room for new innovations, Taco Bell has unveiled its latest menu offerings that will be available nationwide or for testing in select markets.

Since Nacho Fries first launched in 2018, Taco Bell has reimagined the beloved menu item multiple times with innovations. This time, Nacho Fries will be joined by the new Loaded Taco Fries.

The latest fry innovation features...

Top Notch Jerky Recalls Beef Jerky Products Due to Misbranding and Undeclared Allergens

Top Notch Jerky LLC., a Sugar City, Idaho establishment, is recalling approximately 107 pounds of ready-to-eat (RTE) beef jerky due to misbranding and undeclared allergens, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains anchovies, a known allergen, which is not declared on the product label.

The RTE buffalo-style flank steak beef jerky items were produced July 12, 2021. The following products are subject to recall...

Del Taco Restaurants, Inc. Reports Fiscal Second Quarter 2021 Financial Results

Del Taco Restaurants reported fiscal second quarter 2021 financial results for the 12-week period ended June 15, 2021 and provided a business update.

Management Commentary

John D. Cappasola, Jr., President and Chief Executive Officer of Del Taco, commented, “We generated outstanding revenue and profitability growth during the second quarter as we leveraged our top-line momentum across all key cost inputs. Top-line growth was characterized by system-wide comparable restaurant sales growth versus 2020 in the high teens, representing...

7-Eleven Delivers Buy One, Get One Free Wing Deals on National Chicken Wing Day

To  celebrate National Chicken Wing Day on July 29, America's largest convenience retailer is offering buy one, get one free five-count bone-in wings via 7–Eleven Delivery found on the 7NOW® delivery app and the 7–Eleven app. 7-Eleven's delivery time is almost as unbeatable as its chicken and customers can choose between flavors like spicy, regular and buffalo.

Participating 7-Eleven® stores are also offering a buy one, get one free offer on boneless chicken wing skewers to 7Rewards® loyalty members. Available in hot honey, sweet sriracha and...

Canada’s Restaurant Count Declined by 5,000 Units in 2020

Before the pandemic, Canada’s restaurant count held steady at 66,000 units since 2016, but then 2020 happened, and the industry lost 5,000 units, a decline of -8%, reports The NPD Group. Independent restaurants lost 3,000 units, representing the bulk of the slide, according to NPD’s ReCount®2020 restaurant census, which tracked Canadian restaurants opened as of December 2020.

The restaurant categories hardest hit by closures are those that relied heavily on customers’ regular day-to-day routines, such as shopping, working, or schooling... 

C&S Wholesale Grocers Purchases Albertsons' Frozen Contract With Burris Logistics

C&S Wholesale Grocers, Inc., an industry leader in supply chain solutions and wholesale grocery supply in the United States, has purchased Albertsons' frozen service contract from Burris Logistics.

"C&S's legacy is innovating ahead of market trends and this agreement is the next step in our transformation journey. It will further strengthen our service with Albertsons in the frozen product, as well as support a new relationship with Albertsons' mid-Atlantic division," said Rick Cohen, Chairman, C&S Wholesale Grocers...