COVID-19 Impact on Alternative Protein Industry
The on-going COVID-19 pandemic is re-shaping everything from the global economies to product categories, pricing, and stock availability to consumer behavior.
The pandemic has also placed the spotlight on meat supply and food security globally. The spotlight on meat supply has been evident in both developed and emerging markets amidst disruptions to supply chains and panic buying and stockpiling, following announcements of lockdowns and social distancing measures...
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National Retail Federation Announces New Board Members
The National Retail Federation elected two new members to the NRF Board of Directors during its virtual summer board meeting.
The NRF board welcomed Hal Lawton, president and CEO of Tractor Supply Company, and Anish Melwani, chairman and CEO of LVMH Moët Hennessy Louis Vuitton Inc. They will both serve a two-year term until June 2022.
“Hal Lawton and Anish Melwani have shown exceptional leadership during the past few months as our country and the retail industry have faced the coronavirus pandemic and...
ANALYSIS: April Shrimp Imports Increase 6.2 Percent
April imports were released today and showed another increase over the same month last year, continuing the trend set in the first three months. The data showed a 6.2 percent increase over last April to 113.822 million pounds. Urner Barry Consulting expectations were in-line with actual figures against some others that believed imports would fall because of shutdowns across the globe.
Of our top five trade partners, gains from the consensus top two, India (+25.2%) and Indonesia (+44.6%) overpowered less shipments from Ecuador (-30.9%), Vietnam (-10.5%), and Thailand (-5.9%)...
Impossible Foods Launches Direct-to-Consumer Sales and Accelerates Retail Expansion
Impossible Foods is launching an all-new e-commerce site today, allowing people in the lower 48 states to buy the award-winning, plant-based Impossible Burger and cook it at home.
The startup’s direct-to-consumer channel offers family-size quantities of the award-winning, plant-based Impossible Burger starting at $49.99 (plus tax). The orders come with compostable and recyclable packaging, free shipping and two-day home delivery.
Impossible Foods has increased its retail footprint nearly 20-fold since the start of 2020, and its flagship product is now available in over...
ANALYSIS: A Jumbo/Medium Chicken Breast Meat Inflection Point
Over the years, medium-sized boneless breasts have enjoyed an unyielding premium over their jumbo-sized counterparts...
ANALYSIS: Pork Butts See Significant Pressure After Memorial Day
Substantial pressure continues to be noted throughout the fresh pork complex with bone-in butts seeing considerable losses in just...
Red Robin to Re-Open Approximately 65% Company-Operated Dining Rooms by June 7
Red Robin Gourmet Burgers, Inc. announced that the Company expects to have re-opened approximately 270 dining rooms with limited capacity by June 7, 2020, representing approximately 65% of currently open Company-operated restaurants.
Paul J.B. Murphy III, Red Robin’s President and Chief Executive Officer, said, “With our relentless focus on health and safety for our Team Members and Guests, we are continuing to make progress re-opening our dining rooms across the country and welcome back our loyal Red Robin fans to experience...
Amazon Air Expands Aircraft Fleet
Amazon continues to adapt to meet the changing needs of customers by investing in ways to provide fast, free delivery. Today, the company announced the lease of 12 Boeing 767-300 converted cargo aircraft from Air Transport Services Group (ATSG). These aircraft will join Amazon’s existing fleet of 70 aircraft to bring its total network to over 80 aircraft. One of the new aircraft joined Amazon’s air cargo operations in May 2020, with the remaining 11 to be delivered in 2021.
Amazon Air’s fleet expansion comes at a time when people in communities across the country continue to adjust to this unprecedented time, with many relying on having the items they need delivered directly to their doorstep. Amazon Air has played a central role during the COVID-19 pandemic by transporting essential PPE supplies for Amazon associates, frontline health workers and...
ANALYSIS: Boneless Pork Loins Broke 3 Records on June 1st
We kicked off June with a bang in the boneless pork loin market. The reactions to COVID-19 continue to produce volatility across the pork market. Having moved to record highs prior to...
ANALYSIS: Turkey - Potential Production Progress Report
About a month ago we took a look at turkey egg sets which had plummeted to some of the lowest seasonal figures on record...
Campbell Reports Third Quarter Results
Campbell Soup Company reported its third-quarter results for fiscal 2020.
Mark Clouse, Campbell’s President and CEO, stated, “Since the onset of the COVID-19 pandemic, we have simplified our mission to keep our people safe, while meeting the urgent need for...
JBS USA Shares 2019 Sustainability Achievements and Progress Toward 2020 Goals
JBS USA announced the release of its 2019 Sustainability Report and progress toward 2020 sustainability targets. The report transparently details the company’s sustainability actions across its global operations in North America, the UK, Continental Europe, Australia and New Zealand.
“Despite the uncertainties of today, our commitment to produce food sustainably at JBS USA and Pilgrim’s has not changed and is more important than ever,” said Kim Stackhouse, Ph.D., JBS USA Sustainability Director. “As a food company focused on improving lives through nutrition, we are humbled by our team’s accomplishments in 2019 to responsibly provide food for families around the world, while reducing...
The Cheesecake Factory Provides Business Update
The Cheesecake Factory Incorporated provided a business update given the ongoing COVID-19 pandemic.
The Company began to reopen dining rooms across its concepts the second week of May. As of today, approximately 25% of the Company’s restaurants across its concepts, including 34 Cheesecake Factory restaurants, have reopened dining rooms with limited capacity in accordance with local mandates.
The reopened Cheesecake Factory restaurants have recaptured, on average, approximately 75% of prior year sales levels, reflecting continued strength in off-premise sales and building dine-in business. For The Cheesecake Factory restaurants that are continuing to operate...
USDA Announces Transition to Preventive Plan for Virulent Newcastle Disease in California
The United States Department of Agriculture’s (USDA) Animal and Plant Health Inspection Service (APHIS) is announcing that effective today, we are transitioning our virulent Newcastle disease (vND) efforts in southern California from a response focus to implementing a prevention plan aimed at keeping vND from recurring in the region. Even with extensive testing taking place, APHIS has not confirmed any new vND cases since February 1, 2020. As a result, the California Department of Food and Agriculture (CDFA) is removing its vND quarantine.
“APHIS and CDFA employees have worked tirelessly over the past two years toward this goal,” said Dr. Burke Healey, USDA Chief Veterinarian. “While this is a big accomplishment, we need to continue...
Nielsen: Understanding Consumer Sentiment Can Help Companies Adjust as the U.S. Begins to Reopen
Even though the year is almost half over, it’s just now starting to feel like a new year in parts of the U.S., as many states have allowed certain non-essential businesses like restaurants, movie theaters and retail stores to re-open in at least some capacity. We know, however, that many Americans plan to play it safe as businesses come back online rather than immediately jumping back into pre-lockdown behaviors. That’s why companies need to understand evolving consumer sentiment before assuming that open-for-business means business as usual.
The rise in CPG purchases (both on and offline) has been well documented throughout the lockdown period, but we have yet to see how consumers approach visiting non-essential businesses once they’re open again...
Aramark Opens More than 100 Pop-Up Grocery Stores for Frontline Healthcare Workers
As the fight against COVID-19 continues, Aramark is continuing to assist and support frontline workers by opening on-site ‘pop-up’ grocery stores at healthcare facilities across the country, to serve as a one-stop shop for doctors, nurses and hospital staff to grab necessities on their way home. To date, Aramark has opened more than 100 pop-up stores.
The Company is transforming existing retail spaces into grocery stores offering a variety of fresh baked goods, bread, milk, eggs, non-perishable items, paper towels, health & beauty aids and more.
These ‘mini-marts’ stock basic and hard-to-get items that Aramark is able to source through its vast distributor network. By offering a place to shop within their workplace environment...
Cracker Barrel Reports Third Quarter Fiscal 2020 Results And Provides Business Update
Cracker Barrel Old Country Store, Inc. reported its financial results for the third quarter ended May 1, 2020 and provided an update regarding the impact of the coronavirus disease ("COVID-19") pandemic on the Company's business.
COVID-19 Business Update
Beginning in March, the unprecedented circumstances and rapidly changing market conditions caused by the COVID-19 pandemic resulted in significant disruptions to the restaurant industry and to the Company's business. As previously disclosed, the Company undertook numerous actions in response to the pandemic to...
Uncertainty Surrounds the Reopening of Businesses
While the reopening of businesses shut down because of the coronavirus pandemic is a significant step forward, the rate at which the economy will recover or consumers will feel comfortable resuming activities such as dining out or shopping remains to be seen.
“Is it possible the worst of the coronavirus pandemic is behind us? Maybe, but we are not out of the woods yet, and uncertainty abounds,” said National Retail Federation Chief Economist Jack Kleinhenz.
Kleinhenz added, “Predicting what will happen is even more challenging than usual. While history often helps guide us, previous downturns offer little guidance on what is likely to unfold over the next six to 12 months. There is no user’s manual in which government, businesses or consumers can find...
U.S. Restaurant Chain Transactions Down 18% Compared to Year Ago but Continue to Improve
With nearly 320,000 restaurant units in the U.S. now allowed to offer some level of on-premise dining, customer transaction declines at major restaurant chains continued to improve in the week ending May 24, reports The NPD Group. Total major restaurant chain transactions declined by 18% in the week compared to same week year ago, a 25 point gain from the steepest decline during the COVID-19 pandemic of 43% in week ending April 12, according to CREST Performance Alerts, which provides a rapid weekly view of chain-specific transactions and share trends for 70 quick service, fast casual, midscale, and casual dining chains.
Major full service chain restaurant transactions declined by 42% versus same time year ago, a 7 point improvement from the prior week’s decline of...
Lineage Logistics Announces Acquisition of Henningsen Cold Storage, Assets from Maines Paper & Food
Lineage Logistics is expanding their reach. Just last month the refrigerated warehousing and logistics provider announced the acquisition of Henningsen Cold Storage Co., as well as assets of Maines Paper & Food Service.
In February 2019 Lineage announced the acquisition of Preferred Freezer Services, making them not only the largest refrigerated warehousing and logistics provider in North America, but globally as well. The acquisition of Henningsen Cold Storage adds 14 facilities to Lineage’s expansive U.S. network, and bolsters its leading presence in the Pacific Northwest...
Cargill Demonstrates Significant Progress Against Critical Sustainability Goals
At Cargill, sustainability is written into the company’s purpose—and woven into core operations including investment priorities, organizational structure and resource allocation. The company recently outlined progress against sustainability goals in critical supply chains including aqua nutrition, cocoa and chocolate, palm, soy, ocean transportation and beef. With a focus on advancing progress on land use, climate change, water, farmer prosperity and human rights, the company is working across every supply chain to drive sustainable production, transportation and operations.
“The call for radical transparency is increasing. More than ever, our customers and consumers want to understand the story behind the products they buy,” said Jill Kolling, Vice President of Global Sustainability, Cargill. “By investing and partnering on...
NAMI's Response to New York Times' "End of Meat" Op-Ed
Like many sectors of the economy, meat and poultry production has been challenged during the COVID crisis. This leads to the popular pundit sport of writing the industry’s eulogy. The most recent comes from vegetarian and author Jonathan Safran Foer here in the New York Times. Safran Foer says COVID-19 has shown that for Americans, the end of meat is here.
From the start of the pandemic, it was clear meat is essential to Americans. Consumers were flooding grocery stores and buying necessities. Meat was among the few key items, like toilet paper and hand sanitizer, which they bought immediately and in historically high quantities. Meat continues to experience...
Yum China to Introduce Beyond Burger at Select KFC, Pizza Hut and Taco Bell Restaurants
Yum China Holdings, Inc., announced that it is partnering with Beyond Meat, Inc., a leader in plant-based meat, to introduce the Beyond Burger as a limited time offering at select KFC, Pizza Hut and Taco Bell locations in mainland China starting June 3. This partnership marks the introduction of Beyond Meat's Beyond Burger in mainland China.
"We see great potential for the plant-based meat market in China," said Joey Wat, CEO of Yum China. "This latest introduction across KFC, Pizza Hut and Taco Bell brands is expected to capture valuable consumer feedback across different regions in China. It will enable us to optimize flavors and processes and help assess...
Blue Apron Partners with Award-Winning Chef to Create Sizzling Summer Dishes
Award-winning chef and restaurateur, Tim Hollingsworth, has created a menu of recipes inspired by his famous cooking style exclusively for Blue Apron to bring seasonal, summertime staples to home cooks across the country. Beginning the week of June 29 through the week of July 20, Blue Apron customers can channel their inner gourmet chef with new, elevated takes on family favorites curated specially by Hollingsworth in partnership with Blue Apron's culinary team.
Known for using high quality and sustainable ingredients, Hollingsworth combines the flavors and memories of the backyard cookouts of his Texas childhood with California cuisine and his wife Coco's Lebanese culinary traditions, into restaurant-quality dishes that can be made at home...
US Foods to Provide Free Reopening Kits to Independent Restaurants Across the Country
US Foods Holding Corp. announced it is giving away free reopening kits to qualifying independent restaurant owners to help support restaurant reopening efforts in communities across the U.S. The reopening kits provide independent restaurant operators with must-have supplies such as masks and safety guidance posters as well as resource guides to navigate state and local COVID-19 reopening requirements and help create a safer environment for staff and customers alike.
This initiative builds on the company’s ongoing commitment to providing foodservice operators with the expertise, resources and tools to help them successfully adapt their operations during COVID-19...
CHART: Industry Expectations for Weekly Cattle Slaughter
Costco Reports Financial Results for Third Quarter
Costco Wholesale Corporation announced its operating results for the third quarter (12 weeks) and the first 36 weeks of fiscal 2020, ended May 10, 2020.
Net sales for the quarter increased 7.3 percent, to $36.45 billion from $33.96 billion last year. Net sales for the first 36 weeks increased 7.8 percent, to $110.94 billion from $102.90 billion last year.
Reported net income for the third quarter was $838 million, or $1.89 per share, which was negatively impacted by $283 million pretax, or 47 cents per diluted share, from incremental wage and...
FAT Brands Reports First Quarter 2020 Financial Results
FAT(Fresh. Authentic. Tasty.) Brands Inc., reported fiscal first quarter 2020 financial results for the 13-week period ending March 29, 2020 and provided an update on the business as it relates to the COVID-19 pandemic.
Andy Wiederhorn, President and CEO of FAT Brands, commented, “The first five months of 2020 have been unprecedented, and our mission has been steadfast - to guide our franchisees and their employees through these challenging times as safely as possible so they may best serve their communities and guests. As we are now moving into the re-opening phase in many locations both domestically and internationally, our operations teams have...
NPPC Urges Quick Senate Action on Legislative Relief for Hog Farmers
COVID-related challenges have taken a severe financial and emotional toll on U.S. hog farmers, and rapid federal government assistance is needed to help thousands of pork producers weather this crisis. At a press briefing hosted by the National Pork Producers Council (NPPC), four pork producers addressed the crisis on their farms and called on the U.S. Senate to expeditiously adopt livestock agriculture provisions included in COVID-relief legislation recently passed by the U.S. House of Representatives.
The impact of COVID-19 has caused hog values to plummet, creating a financial disaster for pork producers nationwide who face a collective $5 billion loss for the remainder of the year. Additionally, U.S. pork producers face...
Papa John’s Provides Business Update on Ongoing Response to COVID-19 Pandemic
Papa John’s International, Inc. provided an update on the ongoing business impact of the global coronavirus (COVID-19) pandemic, including preliminary estimated comparable sales information for the May fiscal period. In the spirit of transparency during these uncertain times, the company will continue providing this information on a monthly basis through the June fiscal period, which is the end of the second quarter.
Rob Lynch, President & CEO said, “In May, for the second straight month, Papa John’s team members and franchisees delivered the best sales period in the company’s history. Our teams continue to meet the needs of new and returning customers and their communities, while making...
Nestle Prepared Foods Company Recalls Lean Cuisine Fettuccini Alfredo Products
Nestle Prepared Foods Company, a Jonesboro, Ark. establishment, is recalling approximately 29,002 pounds of chicken product labeled as Lean Cuisine Fettuccini Alfredo because the product contains undeclared soy, a known allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The Lean Cuisine Fettuccini Alfredo is not supposed to contain chicken and chicken does not appear in the ingredients statement or on the label.
The frozen, Lean Cuisine Fettuccini Alfredo products were produced and packaged on April 22, 2020. The following products are subject to recall...
Ranking Member Stabenow Introduces Legislation to Protect America’s Food Supply
U.S. Senator Debbie Stabenow, Ranking Member of the U.S. Senate Committee on Agriculture, Nutrition, and Forestry, introduced legislation to help protect the food supply after the COVID-19 crisis has put an unprecedented strain on farmers, workers, food banks, and families.
“The COVID-19 crisis has tested the strength of our nation’s food supply chain, creating a ripple effect that’s harming our families, farmers and workers,” said Senator Stabenow. “This bill will help strengthen our food supply by redirecting food to families and helping farmers and processors retool their operations.”
The shift in demand from restaurants and food service to retail and food donations has caused bottlenecks in the supply chain. Meanwhile, outbreaks of COVID-19 in food processing plants have...
ANALYSIS: A Bird’s Eye View of YTD Chicken Production
With mid-year just around the corner, this week we thought it would be a good opportunity to investigate how chicken headcount and average live weights are stacking up against...
DoorDash Launches Initiative to Continue Supporting Local Restaurants
DoorDash announced Main Street Strong, an initiative to help restaurants navigate the recovery phase of the COVID-19 pandemic. Through this initiative, DoorDash is launching a suite of products, programs, and policies to help restaurants grow their business and take control of the customer experience by building their own digital ordering solutions.
As part of the "Main Street Strong" initiative, DoorDash is announcing new products and programs aimed at helping restaurants build their own brands online according to their unique needs.
Launching DoorDash Storefront, a service that enables restaurants to create their own online stores, providing them with a turnkey solution to offer their customers on-demand access to their restaurant without investing in in-house logistics. By our estimate, 40% of our restaurant partners today do not have...
Yum China Releases 2019 Sustainability Report
Yum China Holdings, Inc., issued its annual Sustainability Report, which highlights its commitment to sustainability and dedication to giving back to the community. It is the Company's third annual Sustainability Report since becoming an independent, publicly-traded company in 2016.
The new report outlines Yum China's sustainability strategy and its accomplishments in 2019, underscoring the importance of sustainability, innovation and culture to the Company's operations. The report also reflects Yum China's commitment to developing goals and taking actions in line with the Sustainable Development Goals to support the United Nations 2030 Agenda.
"As China's largest restaurant company, we are committed to working with stakeholders across the value chain to promote economic, social, and environmental sustainability. This is crucial not only for...
Technomic: Turmoil, Uncertainty and Some Relief Expected for Foodservice Over the Next 18 Months
The foodservice industry will experience significant declines in 2020.
The degree of decline will be dependent upon the timing of lifting restaurant closure restrictions, the status of school and college openings in the fall, the degree of travel return and a possible second COVID-19 wave in the fall.
Healthcare and retail hosts will be the strongest performers
In terms of segments, healthcare will perform at the strongest level in 2020, followed by retail hosts (e.g., c-stores, supermarkets) and limited-service restaurants. Retail and healthcare are less impacted by closures and LSR is strongly positioned for off-premise business. The most affected segments are...
Tyson Foods Publishes 2019 Sustainability Report
Tyson Foods, Inc. published its 2019 Sustainability Report, “Grow – Deliver - Sustain”, outlining progress toward its sustainability goals and announcing key achievements in five focus areas: Food, Animal Welfare, Environment, Workplace, and Communities. The goal of Tyson Foods' sustainability initiative is to ensure the company produces safe, nutritious food for the global population and makes a positive impact on the world.
Tyson Foods’ commitments to help build a more safe, environmentally sound and sustainable food system represent a key element of the company's broader vision to raise the world's expectations for how much good food can do. Its strategy for sustainably feeding the world with the fastest-growing protein brands focuses on growing its business by delivering superior value to consumers and...
Impossible Foods Launches Direct-to-Consumer Sales and Accelerates Retail Expansion
Update: List of Current Plant Closures Due to COVID-19
Uncertainty Surrounds the Reopening of Businesses
The Trip Back to 'Normal' Slaughter Levels
Consumer Confidence Index Stabilizes in May
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