The Consumer Confidence Index Increased in September
The Conference Board Consumer Confidence Index increased in September, after declining in August. The Index now stands at 101.8 (1985=100), up from 86.3 in August. The Present Situation Index – based on consumers' assessment of current business and labor market conditions – increased from 85.8 to 98.5. The Expectations Index – based on consumers' short-term outlook for income, business, and labor market conditions – increased from 86.6 in August to 104.0 this month.
The monthly Consumer Confidence Survey, based on a probability-design random sample, is conducted for The Conference Board by Nielsen, a leading global provider of information and analytics around what consumers buy and watch. The cutoff date for the preliminary results was...
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Tim Ørting Joins Sysco as Executive VP & President, Foodservice Operations – International
Sysco announce on Wednesday that they have hired Tim Ørting as their new executive vice president and president, foodservice operations – international.
Ørting joins the team at Sysco after working with international dairy cooperative Arla for the past 30 years. He most recently served as Arla's executive vice president, international.
In his new position at Sysco, Ørting will be leading the company's operations in Canada, Europe, the Bahamas and Latin America, where he will be overseeing the development and execution of key strategies for growth in these geographics...
United Natural Foods Reports Record Fourth Quarter and Strong Full Year Fiscal 2020 Results
United Natural Foods, Inc. reported financial results for the fourth quarter (13 weeks) and fiscal year (52 weeks) ended August 1, 2020.
Fiscal 2020 Full Year Highlights
(Fiscal 2019 was a 53 week year that included the contribution from an acquisition for 41 weeks)
Kroger Announces New Senior Vice President of Supply Chain
The Kroger Co. announced the retirement of Robert Clark, senior vice president of supply chain, manufacturing and enterprise sourcing, after more than 35 years of service, effective February 1, 2021. Clark will be succeeded by Gabriel Arreaga, who is joining The Kroger Co. as senior vice president of supply chain, starting October 1, 2020.
Robert Clark, Senior Vice President of Supply Chain, Manufacturing and Enterprise Sourcing, Announces Retirement
Clark began his career in the Fry's division as a bagger in 1985. He advanced to occupy several store, district and division leadership roles for Fry's, including being named vice president of merchandising in 2002. Clark relocated in 2010 to the Columbus division to serve as...
Papa John's Sustains Strong North America and International Comparable Sales in September
Papa John’s International, Inc. provided preliminary estimated comparable sales information for the month of September and the third quarter fiscal period. In light of the uncertainty related to the pandemic, the company has continued to provide this information on a monthly basis.
President & CEO Rob Lynch said, “Six consecutive months of double-digit comparable sales growth were made possible by the hard work of Papa John’s team members and franchisees during the global pandemic. We remain confident that our innovation pipeline, marketing and technology platforms, and strong operations will continue to...
U.S. Shoppers Shift Shopping Strategies to Brace for Recessionary Effects
A much more discerning grocery shopper is emerging in the wake of initial widespread panic-buying sparked by COVID-19 this past spring that led consumers to disregard prices and stock up on products and ingredients required to prepare the entirety of their family meals at home. Retailers and their trading partners responded as rapidly as possible to the sudden spikes in demand by pulling back on promotional efforts and focusing on their supply chains to keep up, which led to higher prices on 64% of more than 500 grocery store categories.
The short-term result? FMCG sales shot up $77.9 billion across all U.S. channels for the 52 weeks ended Sept. 12, 2020, translating to year-over-year growth of 9.3%. While this lift was astounding for the retail industry, it’s time for stakeholders to...
Boston Market Brings Back Fall Menu Items
With autumn well underway, Boston Market is bringing back seasonal items to the menu. Available for a limited time, guest favorites Chicken Marsala, Tuscan Chicken and Roasted Garlic & Herb Chicken return to Boston Market menus alongside Warm Apple Cobbler and all new Cilantro Lime Rice are now available at restaurants nationwide.
"This summer was unlike any other we've experienced in previous years, so we're getting back to what we know, love and appreciate this fall with familiar flavors that we hope can offer some much needed comfort and security", stated Randy Miller, President of Boston Market. "That is why we are so excited to be bring back...
Pork Cutout Futures and Options To Be Launched by CME Group
CME Group recently made the exciting announcement that cash-settled Pork Cutout Futures and Options (ticker PRK) will be available for trade on November 9, 2020. This new contract will provide additional risk management tools for traders looking to hedge their price exposure to ever-fluctuating pork cutout values.
A “cutout” is the approximate value of a hog computed using the prices paid for the various wholesale cuts of pork, including the loin, butt, picnic, rib, ham, and belly. Pork cutout values have seen tremendous volatility since the onset of the pandemic. During the first wave of panic buying in the second quarter, the USDA pork carcass cutout value based on FOB Omaha skyrocketed by nearly 116%. As the surge in retail buying subsided...
Beyond Meat to Expand Walmart Distribution
Beyond Meat, Inc. announced a major expansion in its long-standing relationship with Walmart. Following this summer’s successful launch of the Cookout Classic value pack, Beyond Meat’s most affordable product offering to date, this fall, Walmart plans to triple availability of the Beyond Burger from approximately 800 locations to more than 2,400 stores nationwide beginning next week. The move comes as part of Beyond Meat’s effort to increase worldwide accessibility to simple, plant-based meat products made without GMOs.
Beyond Meat first launched its frozen products at Walmart in 2015. Since then, Walmart has expanded its Beyond Meat in-store offerings to include the Beyond Burger and Beyond Sausage in the fresh meat aisle and most recently...
The Hartman Group's Shelley Balanko on Consumer Buying Trends in a Pandemic
During extraordinary times, insights into consumer behaviors become more vital than ever to businesses. The Hartman Group, a food culture consultancy, provides such trends, insights, and strategic counsels to professionals in the food and beverage industry. The company conducts its own primary research with expertise in areas including sustainability and the health and wellness consumer.
In 2012, the Hartman Group developed the Eating Occasions Compass, a database that documents the who, what, when, where, and why of eating occasions in the United States...
Olymel Invests Over $30 Million in St-Damase Poultry Processing Plant
Olymel management announced an investment of more than $31.5 million to expand its poultry slaughtering and cutting plant in St-Damase, Montérégie, in order to diversify operations and add new activities. This project will result in the creation of more than 80 new jobs and bring the total number of employees at this facility to nearly 500, spread over two shifts. This major investment is aimed in particular at equipping the plant with additional cutting, deboning and tray packing lines, as well as new high-capacity, state-of-the-art equipment. The work, which is expected to last about a year, will take place without interrupting the plant's current operations and had begun...
Blue Apron to Introduce First-Ever Thanksgiving Feast
Blue Apron is introducing its first-ever Thanksgiving feast, featuring chef-designed recipes created for an unforgettable, stress-free, and delicious Thanksgiving Day meal.
Known for its unique take on everyday recipes, Blue Apron's Thanksgiving-inspired, southern-style menu will give options to suit every holiday table for parties up to eight people. Complete with a step-by-step guide on how to organize, prepare, and cook a Thanksgiving meal, Blue Apron will also support its home cooks by sharing tips on its social channels to help make the holiday as fun as possible.
"Thanksgiving is going to be different for many families this year, and we're happy to join them in the kitchen by creating...
Rabobank's Poultry Quarterly Q4 2020: The Challenge of Balancing Volatile Markets
Moving through Q4 2020 and into 2021, the global poultry industry will operate in a volatile market context, with pressure coming from foodservice and wholesale markets. Possible new waves of Covid-19 will add to the market ups and downs, and the impact of a deep economic crisis will make markets more price-driven.
“Over the whole year, we expect a slight increase in global poultry production, mostly as a result of poultry expansion in China and Vietnam, where African swine fever has reduced pork availability, and also from expansion in the US. The rest of the world will be...
Kroger and Ocado Announce Location of Customer Fulfillment Center in Michigan
The Kroger Co. and Ocado announced Romulus, MI, as the latest location for a Customer Fulfillment Center (CFC). The location confirms a previous announcement stating Kroger and Ocado would construct a CFC in the Great Lakes Region.
"Kroger is incredibly excited to develop one of our industry-leading Customer Fulfillment Centers in Michigan in relationship with Ocado to bring fresh food to our customers faster than ever before," said Robert Clark, Kroger's senior vice president of supply chain, manufacturing and sourcing. "We continue to invest in and constantly improve our e-commerce capabilities, focusing on...
Bojangles Expands Barbecue On Its Menu
Bojangles is throwing its hat in the barbecue ring just in time for National Pulled Pork Day on October 12. New to most markets, Bojangles is now serving its Carolina-style pulled pork BBQ.
“Born and raised in North Carolina, we at Bojangles know Southern home-cooking like the back of our hand, and these hands have been busy smoking up the best barbecue in town,” said Chef Marshall Scarborough. “Just one bite of our hickory, smoked, pulled-pork barbecue will have you wanting to call it barBOcue.”
Bojangles BBQ can be enjoyed as...
China Declares War on Waste in Food Catering
Ongoing anti-food waste campaigns in China aim to reduce food loss in catering. Although China seems to have no immediate worries about food shortage, the coronavirus pandemic, the geopolitical turmoil, and the escalating trade tensions with leading exporters have the potential to restrict China’s access to edible oil and protein meals. China is highly dependent on these imports, often in the form of oilseeds, which are then domestically processed.
Based on Rabobank’s analysis, eliminating waste in food catering (including restaurants, group dining and food deliveries) could make up to 5% of the nation’s soybean imports (5m metric tons) and 6% of the palm oil imports (0.4m metric tons) unnecessary. In addition, 10m metric tons of feed grains, mostly corn, could also be ‘saved’ this way. As China’s corn is experiencing...
CHART: Industry Expectations for Weekly Cattle Slaughter
Cal-Maine Foods Reports First Quarter Fiscal 2021 Results
Cal-Maine Foods, Inc. reported results for the first quarter of fiscal 2021 (13 weeks) ended August 29, 2020.
Net sales for the first quarter of fiscal 2021 were $292.8 million, a 21.4 percent increase compared to $241.2 million for the first quarter of fiscal 2020. The Company reported a net loss of $19.4 million, or $0.40 per basic and diluted share, for the first quarter of fiscal 2021, compared to a net loss of $45.8 million, or $0.94 per basic and diluted share, for the first quarter of fiscal 2020.
Dolph Baker, chairman and chief executive officer of Cal-Maine Foods, Inc., stated, “Our results for the first quarter of fiscal 2021 reflect continued challenging market conditions as we proactively monitor and...
Brazil Soy Prices Near 2012 High
Soy prices in Brazil neared an eight-year high this week, after robust exports left the country with low stocks just as planting for the 2020/2021 season begins, according to data from University of Sao Paulo's Cepea research center.
Prices hit a high of 150.86 reais ($27.13) per 60-kg sack during the week, near the record of 153.40 reais set in 2012, Cepea said. Domestic soy prices had pared back gains by Friday to 146.63 reais per sack.
The data is based on prices in the region of the port city Paranaguá in Parana state and is...
A New Way to Protect Your COMTELL Account
The security of your personal information is our priority at Urner Barry. To further protect your data, we will be launching a multi-factor authentication login system for COMTELL. This extra layer of security for your account will drastically reduce the likelihood of fraud, data loss, or any other interception of your information.
Sysco Announces Launch of New Menu Concepts
Sysco Corporation announced the nationwide launch of ten exciting menu concepts exclusively for Sysco customers through the company’s Cutting Edge Solutions platform. These chef-tested and innovative products are being launched to help foodservice operators with on-trend dining options as they enter a new normal phase of restaurant dining amidst the global pandemic.
Designed to help Sysco’s customers stay ahead of their competition, Cutting Edge Solutions products are sourced from best-in-class suppliers at the forefront of innovation. Each offering meets important dining trends such as...
Winter Is Coming: US Restaurant Reopening Faces Next Pandemic Challenge
While outdoor seating has helped mitigate revenue losses caused by restrictions on dine-in foodservice during the COVID-19 pandemic to an extent, restaurants face an uncertain fall and winter, with further layoffs expected across the hospitality industry as temperatures fall, outdoor dining becomes uncomfortable, and the threat of COVID-19 continues to loom.
How are foodservice operators adapting to the shifting market environment and what effect are these changes having on foodservice products? US Restaurant Reopening: COVID 19 Impact on Supplies, a new study from The Freedonia Group, analyzes the reopening of restaurants in the...
U.S. Restaurant Dollar and Traffic Declines Ease in August as Consumers Gain Comfort in Dining Out
While August restaurant trends reflect an environment in which slightly less than 25% of restaurant units were under restrictions for on-premises dining during the course of the month, similar to June and July, the rate of traffic and dollar declines for the month eased slightly to -10% and -9%, respectively, compared to same period year ago, reports The NPD Group.
“As the summer progressed and mandated restrictions were lifted, an increasing number of consumers became more comfortable dining out based on the safety protocols restaurants put in place,” says David Portalatin, NPD food industry advisor and author of Eating Patterns in America...
Mosa Meat Raises Series B Funding to Prepare for Large-scale Cultured Meat Production
Mosa Meat, the European food technology company which introduced the world's first cultured beef hamburger in 2013, announced the first closing of $55M as part of a larger Series B funding round.
Mosa Meat will use the funds to extend its current pilot production facility at its home in Maastricht, develop an industrial-sized production line, expand its team, and introduce delicious cultivated beef to consumers. While no date has been announced for an introduction to consumers, the company will work with regulators to demonstrate the safety of cultivated beef, in order to achieve regulatory approval to serve consumers in Europe who are craving change...
Kroger Provides Resources to Help Families Prevent Food Waste While Enjoying More Meals at Home
In September 2017, The Kroger Co. (NYSE: KR) announced the launch of Zero Hunger | Zero Waste, the company's bold social impact plan aimed at ending hunger in the communities it calls home and eliminating waste across the company by 2025.
Three years later, Americans are more conscious of food waste than ever before. A recent national survey of Kroger shoppers conducted by 84.51˚, Kroger's data analytics subsidiary, revealed that food waste prevention is top of mind for many families as they continue to enjoy more meals together at home...
ANALYSIS: Record Chicken Weight a Product of the Times
Seasoned observers of the chicken industry understand that a number of factors contribute to feed conversion and weight gain among broilers...
ANALYSIS: Tidying Up Toms
It was only a few years back that the turkey industry was lamenting the state of the affairs in the whole bird market...
Agricultural Consultant Michelle Klieger Breaks Down the Needs and Wants of Today's Consumer
For decades, agriculture’s mantra has been to provide safe and affordable food. This dual-mandate resulted in a highly concentrated and specialized agricultural system that constantly improves efficiency and increases output throughout the supply chain. With this yardstick, agriculture has achieved its goal. In developed countries, food is widely available and takes up a smaller percentage of the average household budget than ever before. Yet, it’s too soon for agriculture to declare victory.
To maximize the food production system, resiliency and optimization were sacrificed...
Landlords and Retail Tenants Compromise to Emerge Stronger Post-COVID-19, says NRF and PJ SOLOMON
With close to zero revenue coming in the door for many bricks-and-mortar retail operations during the COVID-19 stay-at-home orders, retailers and their landlords are working together to address outstanding rent obligations, the National Retail Federation and PJ SOLOMON said today.
“We started to see some encouraging signs for the retail industry with June’s positive sales growth and within the backdrop of a gradually reopening economy,” said David French, NRF’s Senior Vice President of Government Relations. “The influx of stimulus-driven consumer spending and negotiations with landlords has helped keep retailers afloat. As retailers look ahead to cover rent and other expenses in the coming months, more federal government relief is needed to ensure the industry can continue to rebound and fuel the economic recovery..."
Darden Restaurants Reports Fiscal 2021 First Quarter Results
Darden Restaurants, Inc., (NYSE:DRI) today reported its financial results for the first quarter ended August 30, 2020.
First Quarter 2021 Financial Highlights, Comparisons to First Quarter Last Year
Consumers Itching for Night Out but Restaurants Limited with Winter Weather on the Horizon
As consumers grow weary of eating at home and ordering takeout or delivery, restaurants in some of the states hit the hardest by the coronavirus are beginning to allow indoor dining, providing a glimmer of hope for operators as they look for a return to normalcy.
At the same time, many restaurants are limited by occupancy regulations and lack of real estate for outdoor dining capabilities. Plus, the cooler weather will be less appealing in the coming weeks...
Former Brooklyn Business Owners Plead Guilty in Scheme to Sell Misbranded Beef Products
Earlier today, at the federal courthouse in Brooklyn, Howard Mora and Alan Buxbaum pleaded guilty before United States District Judge Kiyo A. Matsumoto to conspiracy to commit wire fraud by using counterfeit United States Department of Agriculture stamps to sell misbranded lower quality beef at inflated prices to consumers. When sentenced, each defendant faces up to 20 years in prison and criminal forfeiture of $250,000.
Seth D. DuCharme, Acting United States Attorney for the Eastern District of New York, and Bethanne M. Dinkins, Special Agent-in-Charge, United States Department of Agriculture, Office of Inspector General (USDA-OIG), announced the guilty pleas...
Jason Melbourne to Join the Board of Directors of Restaurant Brands International
The Board of Directors of Restaurant Brands International Inc. (TSX: QSR) (NYSE: QSR) (TSX: QSP) ("RBI") announced today that Jason Melbourne was appointed to join the RBI Board of Directors as an independent member.
Mr. Melbourne is currently the Managing Director and Head of Canadian Equities at Canaccord Genuity in Toronto, Ontario. He has extensive capital market experience, including his previous roles at Genuity Capital Markets and CIBC World Markets – both based in Toronto. Mr. Melbourne is a strong supporter of public service and the community, including through his current board of director roles for the Ontario...
America’s Egg Farmers Make Historic Donation to Feed American Families in Need
Marking a historic moment, America's egg farmers across the nation are donating more than 46 million eggs in 2020, the largest amount ever recorded, as food banks experience unparalleled demand due to COVID-19.
U.S. egg farmers have long supported families in need through egg and egg product donations, but these donations are even more important this year. Feeding America, one of the nation’s largest networks of food banks, projects an additional 17.1 million people will experience food insecurity in the U.S., with an estimated $1.4 billion shortfall in food bank donations due to the pandemic. Egg farmers are responding by helping to meet the growing need at U.S. food banks...
Pilgrim’s Announces Appointment of Fabio Sandri as CEO
Pilgrim’s Pride Corporation (NASDAQ: PPC) today announced that interim president and CEO Fabio Sandri has been appointed by the Pilgrim’s Board of Directors as president and CEO of Pilgrim’s, effective immediately.
“I am humbled and excited to be selected by the Board to lead Pilgrim’s in our next stage of growth and opportunity for our team members,” said Sandri. “I look forward to working alongside our strong team of professionals around the globe who are committed to realizing Pilgrim’s vision to be the best and most respected company in our industry.”
The company has initiated a search process to identify a new Chief Financial Officer to replace Mr. Sandri...
Tyson Foods Poultry Plants Win 2020 Clean Water Awards
The U.S. Poultry & Egg Association (USPOULTRY) awarded the 2020 CLEAN WATER AWARD to Tyson Foods (NYSE: TSN) facilities in New Holland, Pennsylvania, and Robards, Kentucky. The annual award recognizes poultry facilities that go above and beyond in sustainable wastewater treatment and water reuse.
“We’re committed to delivering sustainable food to a growing world,” said Dean Banks, president and incoming CEO of Tyson Foods. “Fulfilling this mission requires protecting and respecting natural resources, including the land and water that we depend on to operate..."
Gardein Debuts First-Ever Collection Of Plant-Based Meat Alternative Soups
Gardein, a brand of Conagra Brands, Inc. (NYSE: CAG), is taking its collection of plant-based meat alternatives from the freezer case to the soup aisle with the debut of five new Gardein Soups, the first-ever line-up of soups featuring plant-based meat alternatives. Delivering "meaty" taste with 100% vegan ingredients, the soups are destined to be a cold-weather favorite for anyone seeking an alternative to traditional meat-based soups.
"For years Gardein has been providing delicious foods that deliver the taste of meat in a plant-based offering," said Tim Nangle, Conagra Brands' vice president and general manager, Meals and Sides...
Hormel Introduces Hormel Black Label Egg Bites and Breakfast Combos
The makers of Hormel® Black Label® bacon products, a leader in breakfast meats in America, announced today the launch of Hormel™ Black Label™ Oven-Baked Egg Bites and Hormel™ Black Label™ Breakfast Combos™ breakfast items. The new convenience offerings are designed to appeal to the many millions of consumers who want a high-quality, easy-to-prepare breakfast option with protein. Both product lines come in assorted varieties.
"Breakfast is often considered the most important meal of the day, and now it's about to become the best one," said Nick Schweitzer, senior brand manager for Hormel Foods...
NCBA Responds To Cattle Market Transparency Act
The National Cattlemen’s Beef Association (NCBA) released the following statement in response to the Cattle Market Transparency Act, introduced today by Sen. Deb Fischer (R-Neb.):“Price discovery is an issue of critical importance to cow/calf producers, stockers, backgrounders, and feeders across the United States, and more negotiated trade is needed throughout the cattle feeding regions to ensure sufficient price discovery. That is why all of NCBA’s 46 state affiliate organizations unanimously adopted a fed cattle price discovery policy at our 2020 Summer Business Meeting. This policy directs NCBA to pursue a voluntary approach to price discovery...
Beyond Meat to Expand Walmart Distribution
Rabobank's Poultry Quarterly Q4 2020: The Challenge of Balancing Volatile Markets
Protein Industry Reacts to Latest Coronavirus Aid Package
Study Sheds Light on U.S. Consumer Preferences on Conventional and Alternative Protein Products
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