Another Panama Canal Red Flag: Spiking Product Tanker Rates
Yet another signal on the Panama Canal situation is flashing red: Spot rates are surging for product carriers — specialized tankers carrying diesel, gasoline and jet fuel — that transit the waterway.
America is the world’s largest exporter of refined petroleum products. The west coast of South America is a traditional destination and the Panama Canal is pivotal to this trade. Alternate routes are more than twice as long.
Since the Panama Canal Authority (ACP) began heavily restricting reservation slots at the start of November, waiting time for ships without reservations has dramatically...
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Cal-Maine Foods, Inc. Issues Statement on Jury Decision
Cal-Maine Foods, Inc. (NASDAQ: CALM) (“Cal-Maine Foods” or the “Company”), the largest producer and distributor of fresh shell eggs in the United States, today issued the following statement:
Approximately 20 years ago, United Egg Producers (UEP) responded to growing public demand to improve the overall treatment of egg laying hens by adopting the UEP animal-welfare certified program. The UEP certified program was based on the recommendations of an independent scientific advisory committee, developed as a scientifically sound, voluntary program, supported by consumers, customers and numerous trade...
Dominique Bertolone Named President of Maggiano’s Little Italy, SVP of Brinker International
Casual dining restaurant brand Brinker International, which owns concepts Chili’s and Maggiano’s Little Italy, announced this week that they’ve appointed Dominique Bertolone to serve as one of their Senior Vice Presidents. In addition, Bertolone has also been named the President of Maggiano’s Little Italy.
“Dominique is the perfect leader to usher in the next wave of Maggiano's growth," said Kevin Hochman, Brinker International President and CEO. "His experience leading all types of foodservice concepts has direct application to accelerating the three Maggiano's channels of dine-in...
DoorDash Launches Annual 12 Day Holiday Savings Event
Whether you’re making your list or you’re checking it twice, DoorDash is the special ingredient for a joyful holiday season with Deck the Doorstep, twelve festive days of massive deals to help make holiday hosting and shopping more convenient than ever. From December 1st through December 12th, DoorDash users can look forward to limited-time discounts, daily deals, and exclusive DashPass offers from local and nationwide favorites featuring groceries, retail, and restaurants — all in one place.
During DoorDash’s annual savings event, people will be able to...
U.S. Pork a High-Quality, Convenient Option for Consumers in Korea
USMEF is partnering with Korean retailers to develop and promote U.S. pork in new home meal replacement products.
Korean processors, retailers and restaurants are working aggressively to develop new ideas to satisfy the needs of fast-growing, single-person households in Korea, which now account for 41% of all households.
Consumer demand for quality and convenience is booming and USMEF is partnering with retailers to develop and promote new products with U.S. pork for as home meal replacement (HMR) options.
One such partnership has been an ongoing collaboration with...
Sam’s Club to Open Two New Distribution Centers in St. Louis and Minneapolis Areas
Sam's Club®, a division of Walmart Inc. and a leading membership warehouse club, today announced plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis. The new facilities are part of a multi-year growth plan to transform the supply chain at Sam’s Club and evolve network and end-to-end capabilities. In addition to bringing new jobs to the areas, the new distribution centers will also give Sam’s Club members a better shopping experience witH...
ANALYSIS: Turkey Cold Storage: Less Than What Meets the Eye
The recently released October 31 Cold Storage Report paints a familiar seasonal picture to much of the turkey complex. At the same time, the latest data illuminates the stark contrast between this year's inventory levels and the record lows realized back in 2022.
October’s closing tally reveals a total of 319.7 million pounds of turkey in public warehouses. When pitted against last year, frozen stocks rose by just shy of 13%. Conversely, outward monthly movement kept closely in line with seasonal expectations, dropping 24.1% below...
Cracker Barrel Reports First Quarter Fiscal 2024 Results
Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its financial results for the first quarter of fiscal 2024 ended October 27, 2023.
First Quarter Fiscal 2024 Highlights
NCBA Secures Senate Introduction of Legislation to Protect Producers from Black Vultures
This week, the National Cattlemen’s Beef Association (NCBA) hailed the introduction of the Senate version of the Black Vulture Relief Act introduced by Sen. Markwayne Mullin (R-OK), a companion bill to legislation introduced in the House of Representatives earlier this year that protects cattle producers from the devastating impacts of black vulture depredation.
“Black vultures are particularly nasty predators, and their attacks can be financially devastating to small, family-owned cattle operations,” said NCBA Policy Division Chair Gene Copenhaver, a Virginia cattle producer...
PODCAST: Episode 2 of Agri-Food for Thought Now Available!
Jamie and Simon are back with Episode 2 of the Agri-Food for Thought podcast. Listen now as they discuss food inflation and the consumer mindset during the 2023 holiday season.
QDOBA Completes Whole Business Securitization, Providing Additional Liquidity to Supercharge Growth
QDOBA Restaurant Corporation (“QDOBA”), the leading fast-casual Mexican restaurant franchisor and portfolio company of Butterfly Equity (“Butterfly”), today announced the closing of its inaugural $305 million whole business securitization through Qdoba Funding LLC.
The transaction optimizes QDOBA’s capital structure for ongoing growth and provides meaningful interest expense savings. Proceeds from the transaction will be used primarily to refinance QDOBA’s existing senior debt facilities and provide liquidity to invest meaningfully in general corporate initiatives, such as remodeling more than 80 corporate restaurants and adding digital menu boards to...
Travis Kelce Launches Travis Kelce's Kitchen, a Line of Game-Changing Refrigerated Entrees
Travis Kelce, one of the greatest tight ends of all time and a staple of the Kansas City Chiefs since 2013, is taking his love for Kansas City BBQ to a whole new level. With the launch of Travis Kelce's Kitchen, his own line of flavorful refrigerated entrees, Kelce aims to share his passion for great food, especially the hearty BBQ that Kansas City is famous for. This new line features seven of his favorite dishes inspired...
It’s the Most Wonderful Time of the Year at The Fresh Market!
The Fresh Market is making prepping for the holidays easier than ever this year, with the specialty food retailer’s prepared holiday meals available now for pre-order, a special holiday print edition of The Fresh Market Magazine, and a holiday-themed shoppable livestream featuring brand ambassador, Chef Anna Rossi.
Whether it's a festive feast with family and friends or a small gathering, The Fresh Market offers everything guests need to create memorable and delicious meals. To make holiday shopping even more convenient, The Fresh Market also...
Tyson Foods Opens Innovative New Fully-Cooked Food Production Plant in Virginia to Drive Business
Tyson Foods has officially opened a new $300 million fully-cooked food production facility in Danville, Virginia, delivering on its strategy of accelerating long-term growth, operating as efficiently as possible and investing in its poultry business. It is one of the company’s most-automated plants to date, marking the deployment of innovation pilots and prototypes at scale.
The 325,000-square-foot facility represents a significant investment in the local community and will produce approximately four million pounds of premium quality, fully-cooked poultry...
Ingles Markets, Incorporated Reports Results for Fourth Quarter and Fiscal Year 2023
Ingles Markets, Incorporated (NASDAQ: IMKTA) today reported results for the three and twelve months ended September 30, 2023.
Robert P. Ingle II, Chairman of the Board, stated, “We are happy to report results for the quarter and year-end. We continue to thank our associates for the dedication and hard work they provide to serve our customers.”
Fourth Quarter Results
Net sales totaled $1.58 billion for the quarter ended September 30, 2023, compared with $1.45 billion for the quarter ended September 24, 2022...
Global Growth Continues to Surge for Hooters, Announces Recent Mexico Development
Hooters®, the original American wing joint, expands its global presence as international development continues to surge. The legacy brand and industry leader recently opened four locations across Mexico, and just opened its newest location in Queretaro Antea this month. The iconic brand has made international growth a centerpiece of its overall growth strategy, with prime territories available overseas and in the United States.
Spearheading Hooters massive growth across Mexico is multi-unit franchisee, Hooters de Mexico led by Paolo Pagnozzi. The Queretaro Antea restaurant is the sixth...
Sysco Launches One Planet. One Table.
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The Sysco One Planet. One Table. assortment includes over 3,000 items across 15 categories that are:
“At Sysco, we're taking action to protect the health of our one and only planet. We have a growing market of customers looking for more...
Logan’s Roadhouse “Beefing” Up Holiday Offers For A Limited Time
Logan’s Roadhouse, the leading steakhouse known for its scratch-made rolls, mesquite grilled steaks, and ice-cold beer, is thrilled to announce the triumphant return of Prime Rib, just in time for the holiday season. Logan’s invites guests to indulge in a special Prime Rib experience that will be available exclusively on weekends from through February 18, 2024.
The Prime Rib special features a juicy 13 oz. prime rib, seasoned to perfection in Logan’s signature rub, and then masterfully slow-roasted for six hours and hand-carved to order. Logan’s...
Publix Shuffles Leadership For The New Year
American supermarket chain Publix announced that they have shuffled their leadership ahead of the new year. Effective January 1, 2024, current CEO Todd Jones will transition to an Executive Chairman role. Meanwhile, President Kevin Murphy will be promoted to CEO and Senior Vice President John Goff will be promoted to President.
Jones is a long time employee at Publix, beginning as a front service clerk at the store’s New Smyrna Beach, Florida, location. He ultimately worked his way up to Store Manager in 1988...
A Twist of Fate: Wendy's Unveils the New Pretzel Baconator
Wendy's® just dropped an epic gift for consumers this holiday season with a twist on the signature Baconator®. Now for a limited time, fans can unwrap the new Pretzel Baconator and experience the perfect harmony of Wendy's legendary Applewood smoked bacon topped with an irresistible, fan-favorite pretzel bun. The unique combination of flavors and textures creates a savory moment with every bite and is sure to elevate your tastebuds.
Savor the TwistBacon and warm pretzels make everything better – so why not bring them together...
New Markets and Award Recognitions Position the Noodles & Company Franchise for Momentum in 2024
Noodles & Company, (NASDAQ: NDLS) the national fast-casual chain known for its globally inspired noodle bowls, best-in-class service, and values-centric culture, entered new franchise markets and achieved high accolades in 2023 with honors from top publications including Forbes, Denver Business Journal, and Franchise Times. Noodles' franchise growth and award achievements demonstrate how the franchise continues to be an enticing opportunity for experienced multi-unit, multi-concept operators.
This year Noodles & Company made significant strides in furthering its franchise growth strategy called...
Maggiano's Little Italy® Welcomes the Winter Holidays With Festive Flair
Maggiano's Little Italy® is continuing to celebrate the holiday season by providing delicious options for upscale winter gatherings with family-style dine-in, carryout options and winter menu features for December! In the spirit of togetherness, Maggiano's will also have their doors open to anyone who doesn't feel like turning on the oven this Christmas Eve, New Year's Eve and New Year's Day.
From Nov. 30 to New Year's Eve, guests can dine in at Maggiano's for an extravagant three-course holiday menu featuring refined Italian Classics...
HelloFresh Brings Back Fan-Favorite Buddy the Elf™ Spaghetti Meal Kits with a Twist
HelloFresh, the world’s leading meal kit company, and Warner Bros. Discovery Global Consumer Products announced today the return of the highly coveted Buddy the Elf™ Spaghetti meal kits. After selling out in mere minutes in 2022, HelloFresh is re-releasing the limited-edition spaghetti kits for the holiday season in the US and Canada with the addition of special keepsakes to delight fans and help commemorate Elf’s 20th Anniversary. Spreading even more holiday cheer throughout December, HelloFresh is also debuting Elf-themed meals and...
Quiznos Launches Latest Globally Inspired Seasonal Offer: Club Peri Peri Sandwich
Promising innovation with each new creation, Quiznos’ new Club Peri Peri Sandwich is the latest limited-time offer from the iconic sandwich chain that provides a new flare on a familiar favorite and brings flavors from around the world to restaurants in the U.S. and Canada.
The Club Peri Peri Sandwich is made with grilled chicken, creamy peri-peri sauce, bacon, red onions, lettuce, tomatoes, jalapeños and melted cheese, served on Italian white bread. A traditional South African sauce, peri-peri adds a touch of spice to Quiznos’...
White Castle adds comfort to the winter months with the return of its fan favorite Sloppy Joe Sliders
The cooling weather is reaching the point where comfort food is needed, and White Castle is here to answer the call. The iconic family-owned restaurant that kick started America's love for fast food, is happy to bring back its popular Sloppy Joe, Smoky Joe and Spicy Joe Sliders as well as its Mac & Cheese Nibblers to satisfy comfort cravings during the holidays and throughout the winter season.
These seasonal favorites, which capture the hearts and taste buds of craving customers year...
Mama’s Creations Launches Direct-to-Consumer E-Commerce Platform
Mama’s Creations, Inc. (NASDAQ: MAMA), a leading national marketer and manufacturer of fresh Deli prepared foods, today announced the launch of its nationwide direct-to-consumer e-commerce platform https://shop.mamamancinis.com/, offering popular MamaMancini’s retail products for delivery throughout the continental United States.
During the first phase of the platform launch, customers can shop online from a curated selection of MamaMancini’s bestselling products including Beef Meatball On-the-Go Cups, Beef Meatballs Family Meals, Turkey Meatballs Family Meals, Stuffed Meatballs Family Meals and...
Stryve Foods Announces Major Distribution Expansion into Leading Retailers Across the United States
Stryve Foods, Inc. (“Stryve” or “the Company”) (NASDAQ: SNAX), a pioneer in healthy protein snacks, is thrilled to announce its strategic distribution expansion into several prominent retail chains, solidifying its presence in key markets. The company's innovative and protein-packed snacks will now be available at Southeastern Grocers, Cub Foods, Lunds/Byerly's, Fresh Thyme, Lowes Foods, AAFES, Holiday Oil, Timewise, Family Express, and Dash In.
This expansion marks a significant milestone for Stryve Foods, as it continues to gain recognition for its commitment to providing...
Experts at Columbus Craft Meats Welcome the Holiday Season with Insight on Latest Charcuterie Trends
While no one holiday gathering is the same, certain traditional elements are consistent with parties this time of year. Lights and decorations adorn roofs, walls and fixtures, surrounded by beloved friends and family in the warmth of an inviting home. And of course, what holiday party is complete without an appetizing spread of delicious food?
Charcuterie has become an integral part of holiday celebrations for people throughout the country, as charcuterie boards — consisting of meat, cheese, acid, crunch and a "wow" factor — are especially popular...
Modern Market Eatery First Drive-Thru Location Now Open
Modern Market Eatery, the Colorado-based fast casual concept specializing in scratch-made foods using clean ingredients, has opened the brand's first drive-thru restaurant in Colorado Springs at 3015 New Center Point, Suite 100, in the First & Main Town Center on Friday, Nov. 17.
The new company-owned restaurant is the third Modern Market Eatery location in Colorado Springs. Offering dine-in, drive-thru and delivery options, it will serve the full Modern Market menu, including the new winter menu that launched on Nov. 1, featuring eight brand-new dishes...
Krispy Krunchy Chicken Leads Hot Food Solutions
Krispy Krunchy Chicken®, one of the nation’s fastest-growing foodservice businesses, is soaring ahead of the competition with its “freshly made, perfectly Cajun” offerings that are hot and ready to serve for on-the-go customers. According to the 2023 Convenience Store News Realities of the Aisle Study, which polled over 1,500 regular c-store shoppers, the primary factors taken into account when buying prepared food at a convenience store include price, value, food quality, taste, and freshness. With rapid popularity and aggressive expansion, the brand is a top contender in these...
IHOP® Brings a Bit of Whimsy to New Menu in Celebration of the Release of Wonka
Today, IHOP® announced it is celebrating the magic of Warner Bros. Pictures’ Wonka with a lineup of limited time only offerings inspired by the new film. IHOP is a must-experience dining destination this holiday season with fun, exclusive menu items and offers that need to be tasted to be believed.
Through this partnership, nine whimsical food and beverage items – including new Wonka’s Perfectly Purple Pancakes and Dreamy Lemonade – will bring the joy of Wonka’s world to IHOP guests’ plates at participating...
ANALYSIS: Turkey Cold Storage: Less Than What Meets the Eye
PODCAST: Episode 2 of Agri-Food for Thought Now Available!
Urner Barry’s Market Briefing Provides Insights on Commodity Protein Markets
ANALYSIS: A Turkey Production Puzzle
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