Walmart to Test-Drive Autonomous Grocery Deliveries with Nuro

Today, Walmart is announcing a new pilot with autonomous vehicle company, Nuro. Nuro’s vision of using robotics to improve lives runs parallel with Walmart’s mission of helping customers live better. Through the Houston-based pilot, Walmart aims to develop, refine and continue learning how to offer the best end-to-end customer experience.

Walmart is committed to delivering groceries – with a side of time-saving convenience – through an ever-expanding Grocery Pickup and Delivery service. As we near the end of 2019, Walmart has grown our online grocery footprint to nearly 3,100 pickup locations with deliveries coming from more than...

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Secretary Perdue Statement on USMCA Agreement

U.S. Secretary of Agriculture Sonny Perdue issued the following statement after United States Trade Representative Robert Lighthizer and Speaker of the House Nancy Pelosi announced agreement on the U.S.-Mexico-Canada Agreement (USMCA): 

“USMCA is a big win for American workers and the economy, especially for our farmers and ranchers. The agreement improves virtually every component of the old NAFTA, and the agriculture industry stands to gain significantly,” said Secretary Perdue. “President Trump and Ambassador Lighthizer are laying the foundation for a stronger farm economy through USMCA and I thank them for all their hard work and perseverance to get the agreement across the finish line. While I am very encouraged by today’s breakthrough...

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Dec 10 11:33 AM, General News



Dec 10 7:41 AM, Urner Barry Video

Pork and Beef Exports for October; Analysis: Relief in Sight for Live Lobster?; Sponsored by The Meat Buyer's Guide Online
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McDonald’s Names Ian Borden as President, International

McDonald's Corporation today announced that Ian Borden, most recently President, International Developmental Licensed (IDL) Markets, has been appointed to President, International, effective immediately. Borden will continue reporting to Chris Kempczinski, McDonald’s President and Chief Executive Officer. This announcement follows the appointment of Joe Erlinger to President, McDonald's USA.

In his new role, Borden will assume oversight for all international markets, including International Operated Markets (IOM) which include all wholly-owned markets outside of the U.S., in addition to the more than 80 markets in the IDL segment that he oversees in his current role.

“Ian has a proven record of focusing on the customer to deliver profitable business growth while strengthening collaboration with our global franchisee community,” said Chris Kempczinski, McDonald’s President and Chief Executive Officer. “His deep experiences leading...

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Dec 10 11:40 AM, General News


Retail Imports Surged in November Ahead of December Tariffs

Volume at the nation’s major container ports bumped up significantly in November as retailers imported merchandise ahead of new tariffs set to take effect this month, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“At this point, holiday merchandise is already in the country, so the direct impact of new tariffs won’t be seen until the season is over,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Nonetheless, tariffs are bad for both consumer and business confidence, and we hope that the December tariffs will be canceled or postponed as a sign of good faith. We need a deal with China as soon as possible so we can...

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Dec 10 8:14 AM, General News


Walmart to Test-Drive Autonomous Grocery Deliveries with Nuro

Today, Walmart is announcing a new pilot with autonomous vehicle company, Nuro. Nuro’s vision of using robotics to improve lives runs parallel with Walmart’s mission of helping customers live better. Through the Houston-based pilot, Walmart aims to develop, refine and continue learning how to offer the best end-to-end customer experience.

Walmart is committed to delivering groceries – with a side of time-saving convenience – through an ever-expanding Grocery Pickup and Delivery service. As we near the end of 2019, Walmart has grown our online grocery footprint to nearly 3,100 pickup locations with deliveries coming from more than...

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Dec 10 9:13 AM, General News


Cargill Survey Reveals Consumers Believe Technology Will Feed the World More Sustainably

Technology in agriculture (ag-tech) is how we’ll feed a growing population, make farming more sustainable and improve the lives of farm animals, say 85% of the 3,000 participants in Cargill’s new three-continent consumer survey. At the same time, only about half of those surveyed want their food to come from a technologically advanced (versus traditional) farm. Industries like medicine and education are where respondents most want to see technology used. Farming ranks third—above defense, manufacturing, retail and food.

“We know that new technologies are allowing farmers to make better, faster, more informed decisions to feed a hungry world while protecting the planet,” said Sri Raj Kantamneni, managing director of Cargill’s digital business. “We also know that agriculture is still the least digitalized industry sector in the world. That means...

 

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Dec 10 9:08 AM, General News


Dec 9 7:47 AM, Urner Barry Video

Rabobank Global Beef Trade Report; HRI Movers of the Week; Sponsored by Obsono's Market Insight
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With Record Low Unemployment, USDA Finalizes Rule to Promote Work

U.S. Secretary of Agriculture Sonny Perdue released the following statement regarding the latest jobs report released today by the U.S. Department of Labor (DOL). The jobs report shows the economy added 266,000 new jobs in November with an unemployment rate of 3.5%, which remains at a record 50 year low. Earlier this week, at the direction of President Donald J. Trump, the U.S. Department of Agriculture (USDA) announced a rule to help move more able-bodied recipients of Supplemental Nutrition Assistance Program (SNAP) towards self-sufficiency and into employment. The rule restores the system to what Congress intended: assistance through difficult times, not a way of life.

“Today’s jobs report is further proof that now in the midst of the strongest economy in a generation, we need everyone who can work, to work. To that end, USDA is...

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Dec 6 2:03 PM, General News


Costco Reports November and First Quarter Fiscal Year 2020 Sales Results 

Costco Wholesale Corporation reported net sales of $13.62 billion for the retail month of November, the four weeks ended December 1, 2019, an increase of 6.7 percent from $12.77 billion last year.

For the twelve-week first quarter ended November 24, 2019, the Company reported net sales of $36.24 billion, an increase of 5.6 percent from $34.31 billion last year.

For the thirteen weeks ended December 1, 2019, the Company reported net sales of $39.95 billion, an increase of 6.3 percent from...

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Dec 6 8:15 AM, General News


Dec 6 7:50 AM, Urner Barry Video

U.S.-Japan Trade Agreement Approval; Digging into 2019’s YTD Chicken Production Stats; Sponsored by Urner Barry's Prospector
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Burger King Announces Plan to Develop More Than 100 New Restaurants in Canada 

Burger King is announcing plans to open more than 100 restaurants in Ontario and Manitoba over the next five years. To drive growth in the underpenetrated burger market of Canada, Burger King Canada has inked a new five-year expansion deal with long-time partner, Redberry Restaurants ("Redberry"), to grow the number of Burger King restaurants in Canada by 25% so even more guests can enjoy the iconic flame-grilled Whopper sandwich, chicken fries and other Burger King favourites.

"For far too long, Canadian burger lovers have not had enough flame grilled options to choose from," said Matt Wright, General Manager, Burger King Canada. "Premium ingredients and signature recipes have defined Burger King for 50 successful years in Canada. We're excited that even more Canadians will be introduced to...

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Dec 5 10:04 AM, General News


Kroger Reports Third Quarter 2019 Results

The Kroger Co. today reported its third quarter 2019 results and provided a Restock Kroger progress update on the company's three-year transformation plan.

Comments from Chairman and CEO Rodney McMullen

"Kroger's customer obsession and focus on operational excellence continued to generate positive results in the third quarter. Identical sales were the strongest since we started Restock Kroger and gross margin rate, excluding fuel and pharmacy, improved slightly in the quarter. At the same time, we continued to reduce costs as a percentage of sales.

We are using the power of Kroger's stable and growing supermarket business to create meaningful incremental operating profit through the alternative profit stream businesses, which adds...

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Dec 5 9:33 AM, General News


World Food Prices Jump in November

World food prices rose significantly in November, reaching their highest point in more than two years, driven by jumps in the international prices of meat products and vegetable oils.

The FAO Food Price Index, which tracks monthly changes in the international prices of commonly-traded food commodities, averaged 177.2 points over the month, up 2.7 percent from October and 9.5 percent from the same period a year earlier.

The FAO Vegetable Oil Price Index rose by 10.4 percent in November, as palm oil price quotations rose amid robust global import demand, increased use for the production of biodiesels and expectations of possible...

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Dec 5 8:43 AM, General News


Dec 5 8:31 AM, Urner Barry Video

Restaurant Gift Card Purchases Up Three Percentage Points; Evaluating the Post-Thanksgiving Turkey Trend; Sponsored by COMTELL's Phone App
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Grubhub Launches Annual "Year In Food" Report Highlighting the Top Trends in 2019

Grubhub, the nation's leading online and mobile food-ordering and delivery marketplace, today released findings from its annual "Year in Food" report. To find out what food trends shaped the year (or didn't), Grubhub analyzed tens of millions of orders placed by more than 21 million diners on its platform to uncover the flavors and tastes rising up the ranks among today's diners. Additionally, diners will receive their personalized "Taste of 2019" to get a glimpse of their favorite cuisines, menu items, and ordering habits throughout the year.

Key takeaways from the 2019 "Year in Food" report includes...

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Dec 5 8:18 AM, UB Newswires


Postmates And TGI Fridays Announce On-Demand Delivery Partnership

Postmates, the leader in delivering nearly anything on-demand, and TGI Fridays™ announced a partnership to deliver the world-famous restaurant brand's menu on-demand. Now, Postmates customers can enjoy the iconic taste of their favorite TGI Fridays dishes, like potato skins, whisky glaze, sizzling skillets, and more - brought right to their doorsteps, every day and night.

"Third-party delivery is one more way we're bringing the TGI Fridays experience to People of All Stripes," explained the brand's CEO, Ray Blanchette. "Now, everyone can enjoy the tastes that have always made Fridays famous, brought right to their doorsteps. We are pleased to be working with Postmates on this new offering. Their large national presence and reputation for reliable service made them an ideal partner for serving as many TGI Fridays fans as possible with on-demand delivery."

"TGI Fridays was formed to bring people together over the things that everyone can enjoy – like classic food favorites and innovative new culinary creations. We are proud to bring that experience...

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Dec 5 8:17 AM, General News


Restaurant Gift Card Use Trends Up

Gift card season is officially upon us. And though the majority of Winter holiday shoppers are focused on gift cards for top retailers, it’s important not to overlook the growing use of gift cards to popular restaurants and coffeehouses.

In the recent report Eating Trends: Restaurant Use, Packaged Facts states that between 2011 and 2019, the share of adults who buy gift cards overall has declined by five percentage points, to 39%. However, purchase of gift cards specifically for restaurants or coffeehouses is up by three percentage points, to 20%. Usage has steadily increased each year since 2011. As a result, growth in use of restaurant gift cards, much like growth in the use of restaurant coupons, is...

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Dec 4 9:31 AM, General News


Retailers Say Extending Trade War Past 2020 Elections Would Be ‘Bad Deal’ for U.S. Economy

The National Retail Federation today issued the following statement from Senior Vice President for Government Relations David French in response to President Trump’s comments that he might wait until after the 2020 elections to reach a trade agreement with China:

“We want and need to see a deal as soon as possible. The tariffs continue to hurt U.S. businesses, workers and consumers and are a substantial drag on the U.S. economy. Waiting another year to resolve the cost and uncertainty of the trade war is a bad deal not just for retailers and their customers but every segment of the economy from farmers who export their crops to...

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Dec 4 9:09 AM, General News


Thanksgiving Weekend Draws Nearly 190 Million Shoppers, Spending Up 16 Percent

A record 189.6 million U.S. consumers shopped from Thanksgiving Day through Cyber Monday this year, an increase of 14 percent over last year’s 165.8 million, the National Retail Federation and Prosper Insights & Analytics said today.

“Americans continue to start their holiday shopping earlier in the year, and Thanksgiving is still a critical weekend for millions,” NRF President and CEO Matthew Shay said. “Whether they’re looking for something unique on Main Street, making a trip to the store or searching for the best deals from their mobile device, this is when shoppers shift into high gear. With the condensed holiday season, consumers are feeling the pressure to get their shopping done in time. Even those who typically wait until...

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Dec 4 8:19 AM, General News


Dec 4 8:04 AM, Urner Barry Video

OpenTable Reveals Dining Trends for 2019; Atlantic Halibut Along the East Coast Study; Sponsored by Obsono’s Market Insight Report
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Women in Food and Agriculture Survey Results: Are Women Fairly Represented in the Industry?

AgriBriefing’s Women in Food and Agriculture initiative, launched earlier this year to promote the role of women across the agribusiness supply chain, has today announced the results of an industry-wide survey, conducted with Alltech.

With the global population projected to rise to more than 9 billion by 2050 and the demand for food expected to jump sharply, the need for value gained through accessing all available talent assumes greater urgency than before.

The aim throughout the initiative has been to highlight the current state of our industry. This is not about giving women special treatment or an unfair advantage, but about ensuring we have the facts and skills required to...

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Dec 3 8:42 AM, General News


Kroger Launches Dark Kitchen Partnership with ClusterTruck

The Kroger Co., and ClusterTruck, a software platform that powers profitable, vertically integrated delivery-only kitchens, today launched a partnership that will change the way Americans access freshly prepared meals. By offering multiple menus from one central scratch kitchen, Kroger Delivery Kitchen will deliver fresh and delicious meals on-demand without service or delivery fees.

For the initial rollout, Kroger Delivery Kitchen Powered by ClusterTruck is launching in Carmel, Indiana – where Kroger and ClusterTruck are jointly opening a fourth kitchen – and Indianapolis and Columbus, Ohio. Additionally, King Soopers Delivery Kitchen Powered by ClusterTruck will serve customers in Denver.

"The way our customers order and receive meals is evolving, and ClusterTruck's innovative culinary and...

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Dec 3 8:24 AM, General News


Dec 3 8:24 AM, Urner Barry Video

Continuation of Strong Beef Import Demand from China in 2020; Key Area for Salmon Migration May Cause Some Populations to Vanish; Sponsored by The Meat Buyer's Guide Online
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OpenTable Reveals Dining Trends for 2019

Before closing the menu on 2019, OpenTable released a retrospective look back at this year's most popular dining trends. From trending reviews to dining behavior across the country, this year's diners are looking to have their cake and eat it too.

"We hit a major milestone this year - 10 billion diners seated, using our software. To put that in perspective, that's more than the world's population," said Andrea Johnston, COO at OpenTable. "This year alone, we sat over 283 million diners who gave more than 13 million reviews. This uncovered a treasure trove of food trends and shifts in behavior to provide insightful context as to how people are eating in 2019."

On OpenTable's plate in 2019, diners moved towards more health-conscious dining preferences. Alternative diets are...

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Dec 3 8:22 AM, General News


Dec 2 8:18 AM, Urner Barry Video

Consumer Confidence Declined in November; HRI Movers of the Week; Sponsored by Obsono's Market Insight
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Nielsen Identifies Unique Sustainability Opportunities to Foster Trust with Consumers

More and more, consumers are factoring a product’s sustainability attributes into their purchasing behavior—and are even redefining what constitutes healthy to include the health of the world at large. As we’ve noted earlier, 73% of global consumers say they’re willing to change their consumption habits to reduce their environmental impact. This increasingly vocal majority could translate to big opportunities for brands that manage to effectively communicate the sustainability of their products.

In our April 2019 Omnibus study of more than 21,000 U.S. households, we analyzed consumers’ attitudes toward a cohort of sustainable attributes across 13 product categories. We found that across the consumer packaged goods (CPG) industry, consumers prioritize “environmentally friendly” and “recycled packaging” as...

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Nov 27 9:33 AM, General News


Performance Food Group Company Appoints Three New Independent Directors

Performance Food Group Company, today announced that the Board of Directors of PFG has appointed Barbara J. Beck, Matthew C. Flanigan, and David V. Singer to the Board of Directors, effective immediately. With these appointments, PFG’s Board of Directors expands to 10 directors.

Barbara J. Beck, 59, recently retired from her position as the Chief Executive Officer of Learning Care Group, Inc. (LCG), a global for-profit early childhood education provider. She served as Chief Executive Officer of LCG, from March 2011 until June 2019, and currently acts as an advisor to American Securities, the private equity owner of LCG. Ms. Beck also serves on the Executive Council of American Securities. Prior to joining LCG, Ms. Beck spent nine years as an executive of Manpower Inc., a world leader in the employment services industry, including...

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Nov 27 9:20 AM, General News


NPD Group: Growth in Mobile Holiday Shopping Benefits Stores

Twenty-five percent of online shoppers plan to use a smartphone for holiday shopping, and they are more likely than those who use other devices to buy online and pick up in store (BOPUS), according to insights from the 2019 Holiday Purchase Intentions Survey from The NPD Group. Smaller mobile screens have been taking on more of the shopping workload in recent years, growing from just 19% two years ago, and this can be a positive thing for physical retail doors.

“The consumer’s adoption of mobile shopping can lead them to the store, where most impulse spending takes place,” said Marshal Cohen, chief industry advisor, The NPD Group. “This further demonstrates the importance of a seamless retail approach in keeping up with...

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Nov 27 8:39 AM, General News


Nov 27 8:31 AM, Urner Barry Video

U.S. Pork Could Reduce Trade Deficit with China; Chicken of the Sea Whistleblower Status; Sponsored by Obsono’s Market Insight Report
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Consumer Confidence Index Declined Slightly in November

The Conference Board Consumer Confidence Index decreased in November, following a slight decline in October. The Index now stands at 125.5 (1985=100), down from 126.1 in October. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – decreased from 173.5 to 166.9. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – increased from 94.5 last month to 97.9 this month.

“Consumer confidence declined for a fourth consecutive month, driven by a softening in consumers’ assessment of current business and employment conditions,” said Lynn Franco, Senior Director of Economic Indicators at The Conference Board. “The decline in the Present Situation Index suggests that economic growth in the final quarter of 2019 will remain weak. However...

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Nov 27 8:21 AM, General News


URNER BARRY HOLIDAY SCHEDULE 

URNER BARRY HOLIDAY SCHEDULE: Urner Barry will be closed on Thursday, November 28, 2019, and Friday November 29, 2019 in observance of Thanksgiving. From all of us here at UB, we wish you and yours a safe and happy holiday! 

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Nov 27 8:20 AM, Urner Barry

Cracker Barrel Reports First Quarter Fiscal 2020 Results

Cracker Barrel Old Country Store today reported its financial results for the first quarter ended November 1, 2019.

First Quarter Fiscal 2020 Highlights

  • Comparable store restaurant sales growth of 2.1% and traffic of -1.5% outperformed the casual dining industry.
  • As previously announced, the Company acquired Maple Street Biscuit Company in an all-cash transaction for $36 million.
  • The Company repurchased $14.2 million in shares in the first quarter.
  • GAAP earnings per diluted share were $1.79 compared to prior year first quarter earnings per diluted share of $1.96. This figure includes unfavorable impacts to earnings per diluted share for...
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Nov 26 10:04 AM, General News


Hormel Foods Reports Fourth Quarter And Fiscal 2019 Earnings

Hormel Foods Corporation, a leading global branded food company, today reported results for the fourth quarter of fiscal 2019. All comparisons are to the fourth quarter of fiscal 2018 unless otherwise noted. Results reflect the divestiture of the CytoSport business. The impact of this transaction is excluded in the presentation of the non-GAAP measures below.

Executive Summary - Fiscal 2019

  • Volume of 4.74 billion lbs., down 1%; organic volume flat
  • Net sales of $9.50 billion, down 1%; organic net sales up 1%
  • Operating income of $1.20 billion, up 1%
  • Operating margin of 12.6% compared to 12.4% last year
  • Effective tax rate of 19.1% compared to 14.3% last year
  • Diluted earnings per share of $1.80, down 3% from...
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Nov 26 9:37 AM, General News


Nov 26 8:49 AM, Urner Barry Video

Half of Holiday Shoppers Have Already Started; YTD Tilapia and Pangasius Import Volumes Down; Sponsored by The Meat Buyer's Guide Online
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Nielsen: New Shoppers and Nuanced Category Sales will Drive Holiday Shopping 

This holiday season is one of extremes—featuring both amplified challenges and opportunities for every retailer and brand. The challenges are plain to see: A later-than-usual Thanksgiving means fewer post-feast shopper moments, and a heightened omnichannel chess match around an array of expedited, reduced-cost and free delivery models raises the stakes across the board.

But the omnichannel landscape is far from settled, no matter which lens you view it through. With consumers demonstrating disloyalty at historic levels, and with still significant untapped growth in the online space, retailers and manufacturers across the consumer packaged goods (CPG) landscape have...

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Nov 26 8:18 AM, General News


Half of Holiday Shoppers Have Already Started

More than half of consumers have already started their holiday shopping and nearly a quarter of purchases have already been made, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics.

“This is further evidence that the holiday season has grown far beyond the period between Thanksgiving and Christmas,” NRF President and CEO Matthew Shay said. “Thanksgiving is still a hallmark of the season, and there’s billions of dollars in shopping still to come. But many consumers have already been shopping for weeks, and retailers are increasingly adapting to that.”

The survey found 56 percent of consumers asked during the first week of November had already begun their holiday shopping, about the same as...

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Nov 25 9:06 AM, General News


Nov 25 8:27 AM, Urner Barry Video

USDA’s Monthly Cattle on Feed Report; HRI Movers of the Week; Sponsored by Obsono's Market Insight
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Ahold Delhaize Debuts Cashierless Concept 

Retail Business Services, the services company of Ahold Delhaize USA, has announced new frictionless store technology, piloted under the name lunchbox, which enables individuals to shop a small format store in seconds by scanning in, shopping and walking out. The technology is currently being tested in Retail Business Services’ Quincy, Mass. office.

Retail Business Services partnered with UST Global, a leading digital transformation solutions company, to develop the store. Retail Business Services led application development, technology connectivity and provided food retail operations expertise, and UST Global and its partners provided the artificial intelligence (AI) technology solution and physical infrastructure for the store. The technology will be...

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Nov 25 8:15 AM, General News


ARYZTA Releases Q1 Financial Results

Q1 2020 Performance Overview

Group organic revenue declined by (2.5)% during the quarter. ARYZTA Europe organic revenue declined by (0.9)%, reflecting our focus on profitable revenue. ARYZTA North America organic revenue declined by (6.1)%, as previously indicated. ARYZTA Rest of World had another strong performance with organic revenue growth of 7.5%.

Group reported revenue declined by (2.1)% to €843.9m, reflecting the impact from disposals of (1.6)% and a positive currency impact of 2.0%.

Q1 2020 Performance Summary

ARYZTA AG Chief Executive Officer, Kevin Toland, commented...

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Nov 22 9:24 AM, General News


Packaged Facts: Food E-Commerce Sales will Increase 32% Annually

Online sales of food and beverages in the United States reached $17 billion in 2018, making the U.S. the second largest food e-commerce market in the world with 15% of global sales, according to U.S. Grocery Market Focus: The Amazon Food Shopper, 2nd Edition, a new report by market research firm Packaged Facts.

Through 2023, food e-commerce sales in the U.S. are forecast to increase 32% per year. As the availability of online grocery shopping expands and consumers begin to embrace online shopping for its convenience compared to shopping in-store, sales are expected to rise dramatically.

"This is undoubtedly a market that is ripe for...

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Nov 22 8:27 AM, General News


Nielsen: 7 Important Factors that will Shape the Future of Convenience Retail 

Across the U.S. retail landscape, we believe convenience stores will grow faster than all other offline channels over the next five years, reflecting the hyper focus consumers are putting on expediency. Convenience stores, however, are no longer just competing against other convenience store players. Channels are blurring and C-stores now compete with an array of players that include: quick serve restaurants, smaller formats of grocery and mass and drugstores that are increasingly focusing efforts on fresh and fresh prepared/grab-and-go offerings. Additionally, digital transformation and the consumer’s growing desire for frictionless retail has raised the bar for convenience retailers and their approach to technology adoption.

As a new decade of convenience retail unfolds, these are seven important factors that will shape the future of the convenience industry as we know it...

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Nov 22 8:27 AM, General News


Nov 22 8:22 AM, Urner Barry Video

Breakfast Competition Heats Up; Chicken Analysis: All Eyes on the West; Sponsored by Urner Barry's Prospector
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Cal-Maine Foods, Inc. Completes Acquisition of Egg Production Assets of Mahard Egg Farm

Cal-Maine Foods, Inc. today announced that it has closed the previously announced acquisition of certain assets of Mahard Egg Farm, relating to its commercial shell egg production, processing, distribution and sale of shell eggs business. The acquired assets include commercial shell egg production and processing facilities with current capacity for approximately 3.9 million laying hens and permitted capacity for up to 8.0 million laying hens, a feed mill, pullets and related production facilities located in Chillicothe, Texas, and Nebo, Oklahoma, and a distribution warehouse located in Gordonville, Texas.

Cal-Maine Foods, Inc. is primarily engaged in the production, grading, packing and sale of fresh shell eggs, including...

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Nov 21 9:34 AM, General News


Jack in the Box Inc. Reports Fourth Quarter FY 2019 Earnings

Jack in the Box today reported financial results for the fourth quarter and fiscal year ended September 29, 2019.

Jack in the Box system same-store sales increased 3.0 percent in the fourth quarter. Company same-store sales increased 3.5 percent, driven by average check growth of 2.8 percent and transaction growth of 0.7 percent.

Lenny Comma, chairman and chief executive officer, said, "Our 2019 operating results demonstrate the momentum in the Jack in the Box brand, with same-store sales improving to the strongest performance in four years. We have now achieved...

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Nov 21 9:28 AM, General News


Aramark Names Marc Bruno Chief Operating Officer, U.S. Food & Facilities

Aramark, a global leader in food, facilities management and uniforms, announced today that Marc Bruno has been promoted to Chief Operating Officer, U.S. Food & Facilities, reporting to CEO John Zillmer. In this new role, Bruno will focus on driving the Company’s hospitality culture and growth across Aramark’s eight U.S. food and facilities businesses.

Bruno joined Aramark in 1993 after graduating from the Cornell University School of Hotel Administration. Throughout the course of his career, he has risen through the ranks leading virtually every one of Aramark’s U.S. food and facilities businesses, as well as the Company’s Olympic involvement around the globe. In addition, Bruno has overseen some of the world’s largest events for the Company, including...

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Nov 21 9:23 AM, General News


BJ’s Wholesale Club Holdings, Inc. Announces Third Quarter Fiscal 2019 Results

BJ’s Wholesale Club Holdings, Inc. today announced its financial results for the thirteen and thirty-nine weeks ended November 2, 2019.

“We delivered solid margin improvement and continued earnings growth in the third quarter ” said Christopher J. Baldwin, Chairman and Chief Executive Officer, BJ’s Wholesale Club. "We remain focused on executing against our strategic plan and transforming our business to be well positioned for the long-term. The board's decision to authorize a stock repurchase program reflects...

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Nov 21 9:19 AM, General News


Technomic: Brands Must Differentiate to Stay Ahead as Competition for Breakfast Heats Up

As more players fight for share, breakfast wars are intensifying. Technomic’s 2019 Breakfast Consumer Trend Report takes a look at what brands can do to stay ahead of competition, such as adapting to off-premise trends by way of enhancing ordering amenities, updating menus with bold flavor innovation and adding healthier options. Convenience should also be a big focus, including for weekend occasions.

“Moving forward, brands must differentiate themselves from competitors to drive customer loyalty,” explains Anne Mills, senior manager of consumer insights at Technomic. “Adapting off-premise capabilities and creating innovative menus to meet consumers’ increasing needs for...

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Nov 21 8:53 AM, General News


Nov 21 8:25 AM, Urner Barry Video

Supply Slide Saves Grounded Demand; Monthly Cold Storage Predictions; Turkey Retail Ad Exposure on The Rise; Sponsored by COMTELL's Phone App
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Michael Foster Joins Sysco Corporation as Chief Information and Technology Officer

Sysco Corporation announced today that Michael Foster will join the company as chief information and technology officer, effective December 2. He will serve as Sysco’s senior technology leader with responsibility for all aspects of our global technology agenda, and will partner with other Sysco leaders in helping to shape the company’s broader strategic direction and future growth agenda.

"We are very pleased to welcome Michael to Sysco,” said Tom Bené, Sysco's chairman, president and chief executive officer. “His deep background in complex supply chain and logistics businesses, as well as his experience leading digital transformation, infrastructure modernization and...

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Nov 20 9:34 AM, General News


Walmart Refreshes Produce Shopping Experience 

Walmart knows how important fresh, high-quality produce is to customers.

That’s why, a few years ago, Walmart committed to a relentless focus on quality improvement and giving customers the best fresh produce possible. Walmart added more organic and locally grown foods. Walmart deepened relationships with farmers – and by taking days out of the supply chain, the retailer has been able to provide fresh produce that lasts longer at home.

Then, Walmart had to make sure customers understood they could trust the quality of produce in stores. So, Walmart redesigned the department with more light, better signing and specially angled fixtures to make shopping easier. Also...

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Nov 20 9:19 AM, General News


Nov 20 8:58 AM, Urner Barry Video

October Retail Sales Increased; Monthly Cattle on Feed Predictions; Ocean Can Provide Over Six Times More Food; Sponsored by Obsono’s Market Insight Report
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Kroger Partners with Europe's Infarm to Offer In-store Living Produce Farms

The Kroger Co., America's largest grocery retailer, and Infarm, the world's fastest growing urban farming network, today announced a partnership that will bring modular living produce farms to North America, delivering produce picked so fresh you can see the roots. The partnership between Kroger and Infarm marks the first-of-its-kind in the United States.

The living produce farms will launch this month at two of the 15 stores planned at QFC – a Kroger banner – at locations in Bellevue and Kirkland, Washington. Using hydroponic technology, the produce will grow on site at the participating QFC stores, removing the need for extended transportation and storage and producing a more eco-conscious product. The farms are designed to scale and will provide shoppers the freshest and...

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Nov 19 10:32 AM, General News


Aramark Reports Fourth Quarter and Full Year 2019 Earnings

Aramark today reported fourth quarter and full-year fiscal 2019 results.

“Aramark is an iconic company with a promising future. I am incredibly inspired by the many talented field leaders and valued client partners I have met in just 45 days back with the Company,” said John Zillmer, Chief Executive Officer, Aramark. “My immediate priority is to elevate the Company’s hospitality culture and drive the business forward in a way that unlocks meaningful value for all stakeholders."

Fourth Quarter Results

Consolidated revenue was $4.0 billion in the quarter, an increase of 1.0% over the prior year. Adjusted Revenue grew 4.9% compared to the prior year attributed to...

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Nov 19 10:06 AM, General News


October Retail Sales Grew 4.2 Percent Over Last Year

Retail sales in October increased 0.2 percent seasonally adjusted over September and were up 4.2 percent unadjusted year-over-year, the National Retail Federation said.

“Despite the gradual slowdown in the U.S. economy, consumers are in a good place and October’s retail sales are a step forward into the all-important holiday season,” NRF Chief Economist Jack Kleinhenz said. “Uncertainty around trade policy has impacted consumer sentiment recently but ongoing job growth, low interest rates, low inflation and the stock market hitting record highs provide support for consumer spending.”

October’s results make up for most of the 0.3 percent month-over-month decline seen in September and build on September’s year-over-year increase of...

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Nov 19 9:51 AM, General News


Australia: Unilever Relocating Weis Ice-Cream Production

Unilever has announced plans to move the production of its Weis Ice cream business from Queensland to New South Wales, local press reports.

In 2017 Unilever acquired Weis, an Australian ice cream and frozen dessert manufacturer. Its range features a variety of ice cream formats including single bar, multi-pack bars, dairy-free sorbet tubs and frozen yogurt tubs.

It is understood Unilever made the decision to close the factory after a review of its Australia and New Zealand ice cream business. The Toowoomba, Queensland facility is...

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Nov 19 9:03 AM, Urner Barry


US and China Could Sign ‘Phase One’ Trade Deal Before Christmas, Pimco Predicts

A “phase one” trade deal between the U.S. and China could be finalized and signed before Christmas this year, according to an executive from bond investment giant Pimco.

Optimism that such an agreement could be reached between the two countries faded in recent days following reports that Washington and Beijing remained far apart on several issues. A Chinese government source told CNBC’s Eunice Yoon on Monday that China is troubled after U.S. President Donald Trump said he hasn’t agreed to roll back tariffs.

But John Studzinski, managing director and vice chairman of Pimco, said on Tuesday that he still thinks the two sides would...

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Nov 19 8:25 AM, Urner Barry


Nov 19 8:15 AM, Urner Barry Video

Tyson Fresh Meats Plant to Resume Operations in December; China Bay Scallops – Prices Up, Imports Down; Sponsored by The Meat Buyer's Guide Online
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Nov 18 8:52 AM, Urner Barry Video

US Attempts to Make Deal With EU For Lobster Tariff Relief; HRI Movers of the Week; Sponsored by Obsono's Market Insight
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Quiznos to Test Plant-based Corned Beef Sandwich at Denver-area Restaurants

Starting November 15th, Denver-area Quiznos locations will offer plant-based eaters and curious carnivores alike the chance to try its new Plant-based Corned Beef sandwich for a limited time only. Featuring Mrs. Goldfarb’s Unreal Deli, this deli classic also includes Swiss cheese, pickles, sauerkraut and honey French dressing on a Quiznos bread of choice.

On November 17th, investors on ABC’s “Shark Tank” will decide whether corned beef made from beets, chickpeas and other plant-based ingredients is as good as – or even better than – the real thing, though local Denverites need not wait to hear the outcome and can visit their local Quiznos to try it for themselves.

“Given consumers’ growing desire for meatless options and the rise of plant-based foods, we wanted to...

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Nov 18 8:44 AM, General News


Packaged Facts: Consumer Use of Restaurant Coupons

Though overall use of coupons is down since 2009, consumer use and redemption of restaurant coupons is up by five percentage points, to about a third of U.S. adults, according to Eating Trends: Restaurant Use, the fourth study in a five report Eating Trends series by market research firm Packaged Facts.

Restaurant coupons have been given a boost by instant, digital, and online/app point-of-sales use through newer delivery services—this is on top of longstanding restaurant coupon use for fast-food pizza chains (including delivery or take-out) or other fast-food chains (including for drive-through).

These services have helped diversify the range of eating establishments and the range of...

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Nov 15 9:22 AM, General News


Nov 15 8:11 AM, Urner Barry Video

Consumers Increased Spending on Fresh Food; Deciphering Chicken Dark Meat: Feeling the Pressure; Sponsored by Urner Barry's Prospector
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Walmart Releases Q3 FY20 Earnings

"We're pleased with our performance for the quarter. Our associates are responding to change in an inspiring way, and we're proud of them. The Walmart U.S. business saw strong comp sales and expense leverage, and operating income grew for the sixth consecutive quarter. We also celebrated the first anniversary of Flipkart and PhonePe as part of the Walmart family. It was great to see record sales in India during The Big Billion Days event. Looking ahead, we're prepared for a good holiday season. Our integrated offering with stores and eCommerce delivers value and convenience for our customers. Our associates are working hard to ensure we succeed -- one customer, one interaction at a time," said CEO and President Doug McMillon.

  • Total revenue was $128.0 billion, an increase of $3.1 billion, or 2.5%. Excluding currency, total revenue was $129.0 billion, an increase of $4.1 billion, or 3.3%.
  • Walmart U.S. comp sales increased on a two-year stacked basis by 6.6%. Market share gains in the business were led by food and consumables, including...
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Nov 14 10:03 AM, General News


Subway Restaurants Names John Chidsey CEO 

Subway Restaurants announced that John Chidsey has been named Chief Executive Officer effective November 18, 2019.

John's career as a global franchise executive and senior leader for some of the world's well-known corporations spans brands in and outside of the food and beverage industries.

John was previously the Chairman and CEO of Burger King Holdings, Inc.

Prior to that, he served as Burger King's President and Chief Financial Officer and held other senior management positions...

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Nov 14 9:08 AM, General News


Nov 14 8:32 AM, Urner Barry Video

Over 460 Billion Eating and Drinking Occasions in the U.S.;  Turkey Export Volume Continues to Outpace 2018; Sponsored by COMTELL's Phone App
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Deloitte Study: The Future of Fresh

Key takeaways

  • Over the last two years, two-thirds of consumers increased spending on the fresh food category.
  • Over 60% of consumers spend up to 30% of their average monthly grocery budget on this category.
  • Price is one of the most important considerations of fresh food purchases, with 92% of consumers citing cost as an important aspect in their purchasing decisions.
  • Eighty percent of consumers actively seek healthier versions of the food they purchase and 77% avoid preservatives and chemicals in their food.
    When purchasing perishables, 58% of consumers actively consider sustainability aspects, such as local sourcing, recyclable packaging and water neutrality.

Why this matters

To gain deeper insight into fresh food consumers as well as fresh food manufacturers and retailers, Deloitte's "Future of Fresh" study surveyed 2,000 consumers and 153 fresh food industry executives. The survey provides key insights into...

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Nov 14 8:15 AM, General News


NPD Group Releases Report on Eating Patterns in America 

A burger has held the crown as the top food ordered at U.S. restaurants for decades, but this year that burger may well be a plant-based burger, according to this year’s edition of The NPD Group’s Eating Patterns in America, which is an annual compilation of the company’s daily tracking of U.S. consumption behavior. U.S. consumers may appear to be creatures of habit in their eating patterns but the foods they eat today have a modern twist that is influenced by a host of factors like ethnicity, age/generational group, and health/social consciousness.

“For 34 years The NPD Group has been tracking eating patterns in America and from a topline view many of the same foods are being consumed today as they were...

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Nov 13 10:25 AM, General News


Sysco Acquires Hawaii-Based Armstrong Produce and Kula Produce

Sysco Corporation today announced it has acquired Armstrong Produce and Kula Produce, Hawaii-based broadline fresh produce wholesalers and distributors with approximately $155 million in combined annual revenue. The acquisitions will operate as part of FreshPoint, Sysco’s specialty produce company.

Armstrong Produce was founded in 1979 and has grown from a small family-run wholesale business into Hawaii’s leading produce wholesaler and distributor. With operations in Honolulu, Kona and Kahului, the company supplies a wide range of customers, from local chefs to retailers, with fresh produce daily. Armstrong Produce and Kula Produce are sister companies.

“Armstrong Produce and Kula Produce have been providing quality service and produce to...

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Nov 13 9:22 AM, General News


Nov 13 9:16 AM, Urner Barry Video

Amazon to Grow Beyond Limitations of Whole Foods-Prime Now Relationship;
Harbor Seafood Won Award at US Foods' Supplier of the Year Awards;
Sponsored by Obsono’s Market Insight Report
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Technomic’s Take: 2020 Canada Trends

Chillier weather and holidays on the horizon signify a special time for Technomic: the coming year’s foodservice trend predictions. Our 2020 trends—which touch on menu, operations and labour—reflect today’s biggest cultural, governmental and consumer shifts impacting macro industry trends. Operators and suppliers need to understand how and why macro trends such as health, sustainability, technology and employee engagement are changing in order to succeed in today’s highly competitive foodservice arena. Read ahead for Technomic’s expert predictions of the trends that will have the greatest impressions on foodservice in 2020.

Marine Eats

Operators will shine a light on aquatic-based ingredients in a plethora of new ways. Not only will restaurants continue to highlight less familiar seaweeds, algae and sea plants, including...

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Nov 12 9:46 AM, General News


Givaudan to Acquire Ungerer

As part of its 2020 strategy to expand the capabilities of its global flavour and fragrance business, Givaudan today announced that it has reached an agreement to acquire Ungerer & Company, the US based Flavour, Fragrance and Specialty Ingredients company.

Headquartered in New Jersey, USA, Ungerer is a leading independent company in the flavour and fragrance specialty ingredients business, most notably in essential oils, which provides a rich palette of predominantly natural ingredients for flavour and fragrance creation, as well as for end customers of such specialties. Ungerer also has an impressive local and regional customer presence for both...

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Nov 12 8:57 AM, General News


Nov 12 8:39 AM, Urner Barry Video

Imports to See Final Tariff Surge of the Year;
ADF&G 2020 Bristol Bay Sockeye Forecast;
Sponsored by The Meat Buyer's Guide Online
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What’s Next for Amazon: Expanding AmazonFresh Beyond Online Grocery and into Brick-and-Mortar Stores

Dropping monthly fees associated with AmazonFresh and instead making it a free benefit for Prime members is not just about reenergizing Amazon’s online grocery service. It suggests that Amazon intends to use the brand to grow beyond the limitations imposed by Whole Foods-Prime Now relationship.

Behind the scenes, Amazon has clearly been trying to figure out how to balance AmazonFresh and Prime Now, its 1-2 hour delivery service. Since acquiring Whole Foods in 2017, Amazon seems to have given Prime Now more attention, leveraging...

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Nov 12 8:20 AM, General News


Retail Imports to See Final Tariff-Driven Surge of the Year

Imports at the nation’s major retail container ports are expected to see their final surge of the year this month ahead of new tariffs set to take effect in December, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Retailers are highly competitive, but the ability to compete has been challenging this year because of the uncertainty of the trade war and continued tariff escalation,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Retailers are encouraged by reports that China and the United States have agreed to remove at least some of the existing tariffs once a ‘phase one’ deal is signed. We are eager to see concrete evidence that the trade war is coming to an end with...

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Nov 11 8:19 AM, General News


Nov 11 8:14 AM, Urner Barry Video

September Export Volume Steady for Beef, Higher for Pork;
HRI Movers of the Week;
Sponsored by Obsono's Market Insight
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FAT Brands Inc. Reports Fiscal Third Quarter 2019 Financial Results

FAT Brands Inc. today reported fiscal third quarter 2019 financial results for the 13-week period ending September 29, 2019.

Andy Wiederhorn, President and CEO of FAT Brands, commented, “We are pleased with our performance in the third quarter which included nearly 11% revenue growth and EBITDA growth of over 70%, as we continue to execute our brand acquisition strategy. During the quarter we successfully integrated our latest acquisition, Elevation Burger, which is now running at full synergies. We have built a considerable brand pipeline from which we will acquire synergistic brands to add to our unique platform.”

Wiederhorn continued, “We continue to pursue financing that will lower our cost of capital. To that end, we recently completed the initial closing of our Series B preferred offering...

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Nov 8 10:13 AM, General News


Cargill Opens a Culinary Experience Hub in Belgium

Cargill has opened a Culinary Experience Hub in its research & development site (R&D) in Vilvoorde, Belgium. Customers from across the EMEA (Europe, Middle East and Africa) region are invited to solve their food formulation challenges and co-create new ingredients and recipes alongside Cargill’s food experts. The facility features a bakery pilot plant, a regional frying center and a culinary tasting area with capabilities for dairy, beverage, bakery, convenience foods and culinary applications.

Vilvoorde is one of Cargill’s first culinary experience centers. The center is specialized in research and development into new food ingredients and recipes, as has a professional chef, who works with customers to either adapt existing products to evolving consumer demands, or to develop new products from...

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Nov 8 9:18 AM, General News


Nov 8 9:08 AM, Urner Barry Video

National Pork Board Defines China’s Protein Need;
Chicken Price Check: Feeling the Pressure;
Sponsored by Urner Barry's Prospector
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McDonald's USA Signs Large-Scale Virtual Power Purchase Agreements

McDonald's announced the signing of two long-term, large-scale virtual power purchase agreements (VPPAs), whereby McDonald's will buy renewable energy generated by Aviator Wind West, a wind power project located in Coke County, Texas and a solar project located in Texas. The combined 380MW in renewable energy expected to be generated from McDonald's contribution to these projects will help to prevent over 700,000 metric tons of carbon emissions each year, which is equivalent to planting more than 11 million trees or taking over 140,000 cars off the road for one year. Additionally, the energy generated by these U.S. projects will be equivalent to over 2,500 restaurants-worth of electricity.

In March 2018, McDonald's became the first restaurant company in the world to set a greenhouse gas (GHG) emissions target approved by the Science Based Targets initiative (SBTi). These two U.S. renewable energy projects will...

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Nov 8 8:20 AM, General News


Performance Food Group Reports First-Quarter Fiscal 2020 Results

Performance Food Group Company announced its first-quarter fiscal 2020 business results.

“I am pleased with our first-quarter results driven by double-digit EBITDA growth in our Foodservice and Vistar segments,” said George Holm, PFG’s President & Chief Executive Officer. “Vistar continued to deliver strong top and bottom-line results fueled by broad-based growth across its sales channels. Our Foodservice segment generated 13% in EBITDA growth driven by its customer-centric focus and its continued strategic investments in people and technology. Based on our strong start to the year, we are pleased to increase our full-year Adjusted EBITDA and Adjusted Diluted EPS outlook.”

First-Quarter Fiscal 2020 Financial Summary

Total case volume increased 10.7% for the first quarter of fiscal 2020 compared to the prior year period, with underlying organic growth of 3.2%. Total case volume included Eby-Brown Company, LLC (“Eby-Brown”), a 5.6% increase in...

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Nov 7 10:08 AM, General News


Roquette and Yili Sign a Strategic Cooperation Agreement

Roquette, a global leader in plant-based ingredients for Food, Nutrition and Health markets, and Inner Mongolia Yili Industrial Group Co., Ltd., one of the largest dairy companies in Asia, signed today a long-term strategic cooperation agreement at the Great Hall of the People in Beijing.

Mr. Pan Gang, Board Chairman and President of Inner Mongolia Yili Industrial Group Co., Ltd. and Mr. Edouard Roquette, Chairman of the Board of Roquette, signed the agreement during an economic forum hosted by the Chinese President Xi Jinping and the French President Emmanuel Macron.

The contract covers the purchase of Roquette products from Yili in the next three years, and reinforces the already existing business relationship of both leading companies in Chinese Food markets. Roquette and Yili will...

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Nov 7 9:04 AM, General News


There’s Still Time to Book Your Spot at Feed Additives America in Miami!

We’re going to Miami! It’s the final days before the much-anticipated Feed Additives Americas event—and there’s still time to secure your spot if you act fast!

Join us at the InterContinental at Doral Miami, November 13-15th, as FeedInfo hosts this exclusive event. Focusing on disruptors to the industry, challenges of feed additive producers and users, emerging innovations and opportunities, the Feed Additives Americas conference features deep insights and analysis to help you formulate your business strategy.

With over 35 sessions with leading experts and prime networking opportunities, this is a must-attend event for anyone dealing in feed additives, including producers, farms, premix companies, members of academia, consultants, and more! Plus, there are...

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Nov 7 8:32 AM, FeedInfo


Nov 7 8:31 AM, Urner Barry Video

Meat Alternatives Market to Grow Globally;
Turkey Price Check Looking Up;
Sponsored by COMTELL's Phone App
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Sysco Announces 2019 Corporate Social Responsibility Report

Sysco Corporation, the leading global foodservice distribution company, announced today it has published its 2019 Corporate Social Responsibility (CSR) Report, documenting the company’s progress toward the 2025 CSR goals established in 2018. Sysco’s CSR strategy focuses on three key areas: people, products and planet, with the objective of Delivering A Better Tomorrow. This strategy sets a clear path for the future and demonstrate the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet.

“As we celebrate Sysco’s 50th anniversary this fiscal year, we understand the importance of a strong CSR strategy that is focused on finding systemic solutions and...

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Nov 7 8:23 AM, General News


Kroger Debuts New Logo and Launches Brand Transformation Campaign

The Kroger Co. debuted today its new logo and brand transformation campaign, celebrating its love of all customers and associates, food-first culture and long history as America's favorite grocer.

"Kroger's new brand launch is a unifying framework for our seamless shopping experience that is designed to deepen our connection with customers and associates today and into the future, support our business transformation and provide an elevated creative approach," said Mike Donnelly, Kroger's executive vice president and chief operating officer. "Kroger chose Fresh for Everyone as our leading brand message because it is inclusive, clear and memorable and supports our vision of serving America through food inspiration and...

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Nov 7 8:22 AM, General News


Papa John’s Strengthens and Streamlines Management Team

Papa John's International, Inc. today announced a new, more streamlined senior management team, with additions to the team as well as promotions and expanded roles for key leaders. The updated management structure aligns with the company’s new strategy and priorities.

“After two months as CEO, I’m more excited than ever by the dedication, drive and resilience of Papa John’s team members and franchisees. Today I’m announcing a new management structure that will be the foundation on which we build our future,” said Rob Lynch, President and Chief Executive Officer. “As we introduce a more focused plan and strategic priorities for the company, we are realigning Papa John’s senior management, promoting leaders within the company and adding proven talent. The strong, streamlined team has more clearly defined responsibilities and...

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Nov 7 8:22 AM, General News


Ajinomoto Reports Financial Results for the Interim Period of Fiscal 2019 

An overview of the consolidated financial results of Ajinomoto Co., Inc. for the interim period of fiscal 2019 (April 1, 2019 - September 30, 2019) is as follows.

In the interim period of fiscal 2019, consolidated sales decreased JPY 7.7 billion (-1.4%) compared with the same period of the previous fiscal year to JPY 538.7 billion due to factors including a substantial decline in animal nutrition sales. Business profit increased JPY 3.4 billion (+7.8%) to JPY 48.0 billion due to substantial increases in profit from umami seasonings for processed food manufacturers, frozen foods (International) and frozen foods (Japan), among other factors, despite impairment loss on...

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Nov 6 11:51 AM, General News


Kerry Group Reports Financial Results for the Third Quarter 

Kerry, the global taste & nutrition and consumer foods group, issues the following Interim Management Statement for the nine months ended 30 September 2019.

Q3 YTD Key Highlights

• 3.1% growth in business volumes
— Taste & Nutrition +3.9%
— Consumer Foods -0.7% (excluding contract exit +0.6%)
• Pricing -0.1%
• Reported revenue +10.0%
• Group trading margin +20bps
— Taste & Nutrition +20bps...

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Nov 6 11:30 AM, General News


Papa John’s Announces Third Quarter 2019 Results

Papa John’s International, Inc. today announced financial results for the three and nine months ended September 29, 2019.

Highlights

  • Third quarter 2019 loss per diluted share of ($0.10) as compared to third quarter 2018 loss per diluted share of ($0.42)
  • Excluding Special items, adjusted earnings per diluted share of $0.21 compared to $0.19 for the third quarter of 2018
  • Third quarter system-wide North America comparable sales increase of 1.0%
  • Third quarter international comparable sales increase of 1.6%; international franchise sales increase of...
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Nov 6 10:22 AM, General News


The Wendy's Company Reports Third Quarter 2019 Results

The Wendy's Company today reported unaudited results for the third quarter ended September 29, 2019.

"We delivered a strong quarter of sales and earnings growth, demonstrating that we are building an even stronger foundation for the Wendy's® brand," President and Chief Executive Officer Todd Penegor said. "We remain relentlessly focused on executing our plan to accelerate same-restaurant sales and drive global restaurant expansion across the globe. We are well positioned to drive growth in 2020 and beyond to achieve our vision of becoming the world's most thriving and beloved restaurant brand, and to become...

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Nov 6 8:58 AM, General News


ANALYSIS: Egg Prices Rally Nearly 60%



US shell egg prices have risen sharply over the last three weeks. From the lows seen in the middle of October, the benchmark Midwest large quote has jumped...

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Nov 6 8:19 AM, Urner Barry


Nov 6 8:12 AM, Urner Barry Video

Global Pork Prices Continue to Rise;
Protests Continue in Chile While Salmon Reaches Market;
Sponsored by Obsono’s Market Insight Report
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Western Hemisphere Ag Leaders Unite in Support of Science-Based Standards 

U.S. Department of Agriculture Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney issued the following statement following the Inter-American Board of Agriculture’s (IABA) endorsement last week of a resolution emphasizing the need for science-based agricultural regulations to facilitate global agricultural trade.

“We have an opportunity to support the agricultural producers in the Western Hemisphere – and across the world – by committing to science-based standards and policies that ensure the quality and safety of our food while also facilitating international trade. I’m pleased that we’ve come together as neighbors across the hemisphere in support of this resolution, which lays a foundation for continued cooperation that will...

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Nov 5 2:22 PM, General News


National Restaurant Association Unveils its Restaurant Industry 2030 Report

Today the National Restaurant Association, in partnership with American Express and Nestlé Professional, released its 10-year outlook report on the projected state of the restaurant industry in 2030. The report, "Restaurant Industry 2030: Actionable Insights for the Future," examines the key indicators shaping the future of the industry, identifies the most and least likely developments over the upcoming decade, and considers possible disrupters outside the industry that could transform it. The findings are based on input from a variety of restaurant sector experts, futurists, and government statistics.

Key economic projections for 2030 include...

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Nov 5 11:32 AM, General News


Secretary Perdue Leads USDA Trade Mission to Mexico

U.S. Secretary of Agriculture Sonny Perdue will lead a trade mission to Mexico November 6-8 to forge new opportunities with U.S. agriculture’s largest bilateral trading partner and second-largest export market. Currently, Mexico is the number one export market for U.S. corn, dairy, poultry and eggs, sugar and sweeteners, distillers dried grains, and rice. The country also ranks among the top destinations for an assortment of processed foods and beverages, as well as other products including soybeans, beef, pork, wheat, fruits, and vegetables. Agricultural exports from the United States to Mexico totaled $19 billion in 2018, with export growth seeing a 23% increase between 2008 and 2018. These numbers prove opportunity for more trade growth between Mexico and the United States. The Secretary will be joined by Under Secretary for Trade and Foreign Agricultural Affairs Ted McKinney and more than...

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Nov 5 10:21 AM, Urner Barry


US Foods Reports Third Quarter Fiscal 2019 Earnings 

US Foods Holding Corp., one of the leading foodservice distributors in the United States, today announced results for the third quarter of fiscal 2019. In this press release we refer to certain organic financial results. Organic financial results exclude contributions during the respective period from the Food Group of Companies (the "Food Group"), which was acquired on September 13, 2019.

Third Quarter Fiscal 2019 Highlights

  • Total case volume increased 3.0%; independent restaurant case volume increased 6.3%
  • Total organic case volume increased 0.9%; independent restaurant organic case volume increased 4.2%
  • Net sales increased 6.1% to $6.5 billion; organic Net sales increased 4.0% to...
Full Story »
Nov 5 9:40 AM, General News


PODCAST: Baking Boost Eggcelent for the Egg Market

This week Laura sits down with Brian and talks cheesecake, proposition 12, consumer demand trends, and more...

Full Story »
Nov 5 9:40 AM, Urner Barry


Associated British Foods Reports Annual Financial Results 

Associated British Foods has announced financial results for fiscal year 2019.

Statutory operating profit down 5% to £1,282m mainly as a result of an exceptional charge of £79m included in this year’s income statement. This year includes a greater loss on closure of businesses, and so statutory profit before tax was down 8% to £1,173m and basic earnings per share were down 13% to 111.1p.

George Weston, Chief Executive of Associated British Foods, said...

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Nov 5 9:11 AM, General News


Nov 5 8:48 AM, Urner Barry Video

McDonald’s Announces Leadership Transitions;
Group of Major Ecuadorian Tuna Producers Responds to EU Yellow Card;
Sponsored by The Meat Buyer's Guide Online
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Full Story »

Blue Apron Reports Third Quarter Results 

Blue Apron Holdings, Inc. announced today financial results for the quarter ended September 30, 2019.

“We delivered third quarter results in line with our guidance as we continue to focus on building for the future and managing the business for sustainable, long-term growth,” said Linda Findley Kozlowski, Blue Apron Chief Executive Officer. “We’re pleased to see the continued strengthening of our customer base with year-over-year improvements in certain key customer metrics in the third quarter. We continue to believe that the potential for Blue Apron remains significant and that with the execution of our strategy, we will achieve our 2020 growth targets.”

“We are pleased to have recently completed the refinancing of our revolving credit facility with our existing lender syndicate which we expect will support the continued execution of our growth strategy,” said Tim Bensley, Blue Apron Chief Financial Officer. “This transaction also...

Full Story »
Nov 4 11:48 AM, General News


Letter to the Industry: Passing of Steve Brody

The following letter was penned by colleagues from Fancy Foods in regards to the passing of Steve Brody. From all of us here at Urner Barry, we wish Steve's family, friends, and colleagues comfort during this difficult time.

"Dear Colleagues,

It is with great sadness that we inform you of the passing of our comrade, Mr. Steve Brody. Steve served as Director of Purchasing for Fancy Foods Inc. and was a valued member of the Executive Management team for over 2 decades. An incredible asset and industry icon, Steve was always willing to provide a helping hand. His dedication and commitment have been an integral part of our growth and success...

Full Story »
Nov 4 11:13 AM, Urner Barry




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