USDA Details Trade Damage Estimate Calculations

U.S. Secretary of Agriculture Sonny Perdue today announced that the U.S. Department of Agriculture (USDA) Office of the Chief Economist has published a detailed accounting of how estimated damage from trade disruptions was calculated for its support package for farmers announced on July 25, 2019. USDA’s Office of the Chief Economist developed an estimate of gross trade damages for commodities with assessed retaliatory tariffs by China, India, the European Union, and Turkey to set commodity payment rates and purchase levels. USDA employed the same approach often used in adjudicating World Trade Organization trade dispute cases. 

“Just as we did before, we want to be transparent about this process and how our economists arrived at the numbers they did. Our farmers and ranchers work hard to feed the United States and the world, and they need to know...

Red Robin Gourmet Burgers Reports Results for the Fiscal Second Quarter

Red Robin Gourmet Burgers, Inc., a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the quarter ended July 14, 2019.

Second Quarter 2019 Financial Highlights Compared to Second Quarter 2018

• GAAP earnings per diluted share were $0.08 compared to a $0.14 loss per diluted share;
• Adjusted earnings per diluted share were $1.03 compared to $0.46;
• Net Income was $1.0 million compared to a net loss of $1.9 million;
• Adjusted EBITDA was $25.5 million compared to...

Walmart's Innovative Approach to Convenience Around the World

Shopping lists are increasingly including a new item: convenience.

The grocery industry is a great example. American shoppers average about 60 minutes spent shopping for food each week. To cut this time down, more and more of Walmart’s U.S. customers find themselves taking advantage of online shopping options like pickup and delivery.

But the U.S. isn’t the only place customers want convenience. Walmart Canada’s recent announcement to expand grocery delivery with Instacart demonstrates how quickly customers are responding to time-saving innovations in...

Analyzing Genomes to Improve Disease Control in Poultry

Marek's disease—a highly contagious viral disease caused by a herpesvirus—is a constant threat to poultry worldwide. It is also one of the most preventable diseases with vaccination. However, while vaccines prevent poultry from becoming sick with symptoms of the virus, they do not prevent virus spread and mutation—considered the main reason for increased virus virulence, or severity, in field strains in U.S. commercial flocks.

To help improve the control of Marek's disease, veterinary medical officer John Dunn and his team at the Agricultural Research Service (ARS) Avian Disease and Oncology Laboratory in East Lansing, Michigan, analyzed Marek's disease genomes to find out which genes are mostly associated with virulence. They sequenced DNA from 70 virus strains, collected over the years from across the United States, and identified significant genetic variants...

ANALYSIS: Record Low Medium Breast Meat Values: What's Happening at Retail?

When it comes to the former, the USDA Fresh Chicken Retail Feature Activity shows that current total chicken featuring resides well below the seven-year average, including 2018, a year which was certainly one to forget for those marketing fresh chicken parts...

AmazonFresh Expands to Houston, Minneapolis and Phoenix With 1- and 2-Hour Delivery

Amazon today announced that AmazonFresh has expanded to three new cities: Houston, Minneapolis and Phoenix. Beginning today, Prime members in those cities can shop tens of thousands products from meat and seafood to fresh produce and everyday essentials for free two-hour delivery from AmazonFresh.

“We’re thrilled to introduce AmazonFresh to Prime members in Houston, Minneapolis and Phoenix,” said Stephenie Landry, Vice President of AmazonFresh and Prime Now. “Prime members tell us they want their stuff even faster. We’re happy to deliver on that ask and can’t wait for customers in Houston, Minneapolis and Phoenix to take advantage of...

ANALYSIS: RTC Production: A Comparison Between Monthly and Weekly Data

As illustrated by our chart, monthly YTD ready-to-cook tonnage and the data derived from the weekly slaughter report have generally followed a similar rate of increase. The monthly data however, has consistently tended above the monthly RTC figures...

BJ’s Wholesale Club Announces Second Quarter Fiscal 2019 Results

BJ’s Wholesale Club Holdings, Inc., today announced its financial results for the thirteen and twenty-six weeks ended August 3, 2019.

“Second quarter results for sales and earnings were in line with our expectations,” said Christopher J. Baldwin, Chairman and Chief Executive Officer, BJ’s Wholesale Club. "We delivered improved margins and continued to grow earnings as we executed against our strategic priorities. Our sales were particularly strong in the second half of the quarter as weather improved, and we ended with strong momentum. We are confident that we will deliver on our full-year expectations as we continue to...

Hormel Foods Reports Third Quarter Results

Hormel Foods Corporation, a leading global branded food company, today reported results for the third quarter of fiscal 2019. All comparisons are to the third 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

• Volume of 1.1 billion lbs., down 4%; organic volume down 1%
• Net sales of $2.3 billion, down 3%; organic net sales flat
• Pretax earnings of $261 million, up 1%
• Operating margin of 11.2% compared to 10.9% last year
• Effective tax rate of 23.6% compared to...

Aramark Tackles Game Day with 35 of the Hottest Items on Menus at NFL Stadiums

Game days are back and Aramark (NYSE: ARMK), the award-winning food and beverage partner of 11 NFL teams, is ready to welcome six million fans back to stadiums for the most awaited and delicious time of the year, football season.

Aramark, which serves more football fans than any other hospitality company, scouted recipes and food trends from coast to coast, to create new menus that reflect the flavor and tradition of the hometown teams and communities where they reside. Food trends and fan feedback guided Aramark’s culinary team through the off-season, which resulted in a fresh roster of...

Domino's to Open New Workspace Dedicated to Collaborative Innovation

Domino's Pizza, the largest pizza company in the world based on global retail sales, has spent years focused on cutting-edge technology created and built largely by teams at its World Resource Center in Ann Arbor. Those cross-functional teams now have a new space called Domino's Innovation Garage where they can collaborate on, create and test new ideas to take the brand to the next level. Domino's Innovation Garage, located at Domino's Farms in Ann Arbor, will celebrate its grand opening on Wednesday, Aug. 21.

"Domino's Innovation Garage is focused on accelerating Domino's spirit of creativity and collaboration," said Kelly Garcia, Domino's chief technology officer. "As a pizza company with a focus on technology, we want our team members to have a workspace that encourages experimentation and...

Target Reports Second Quarter 2019 Earnings

Target Corporation today announced its second quarter 2019 performance, including comparable sales growth of 3.4 percent driven by a 2.4 percent increase in comparable traffic. The Company reported GAAP earnings per share (EPS) from continuing operations of $1.82 in second quarter 2019, up 22.0 percent from $1.49 in second quarter 2018. Second quarter Adjusted EPS of $1.82 was 23.9 percent higher than $1.47 in second quarter 2018. The attached tables provide a reconciliation of non-GAAP to GAAP measures. All earnings per share figures refer to diluted EPS.

• Second quarter comparable sales grew 3.4 percent, driven by 2.4 percent traffic growth.
• Comparable sales have grown approximately 10 percent over the last two years — the best performance in more than...

Tip Top Poultry Recalls Fully Cooked Poultry Products

Tip Top Poultry, Inc., a Rockmart, Ga. establishment, is recalling approximately 135,810 pounds of fully cooked poultry products that may be adulterated with Listeria monocytogenes, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The frozen, diced, and mechanically separated ready to eat chicken was produced on January 21, 2019 and display “PACK DATE 01/21/19” on the labels. The products subject to recall can be found in this spreadsheet.

The products subject to recall bear establishment number “P-17453” inside the USDA mark of inspection or on the case. These items were shipped to...

Revention and DoorDash Team Up to Offer On-Demand Logistics Services

Revention, the industry-leading provider of restaurant ordering and management solutions, today announced its partnership with the largest and fastest growing last-mile logistics platform in more than 4,000 cities in the United States and Canada, DoorDash.

This partnership will provide restaurateurs the opportunity to grow their business by offering on-demand logistics and/or streamlining existing delivery operations to accommodate for peak times, unexpected surge of orders, downtime, and service outside of standard areas.'

The Revention and DoorDash partnership will significantly expand operational efficiencies for restaurateurs, with potential benefits including...

Amazon Announces Plans to Expand in Utah with New Fulfillment Center in West Jordan

Amazon.com, Inc. today announced plans to open a new fulfillment center in West Jordan, Utah creating more than 800 full-time jobs starting at $15 an hour with comprehensive benefits starting on day one. Amazon currently employs more than 2,000 full-time associates throughout the State of Utah.

“We’re excited to open a new, state-of-the-art fulfillment center in West Jordan and to continue innovating in a state committed to providing great opportunities for jobs and customer experience. Utah has a talented workforce, and we are very excited to grow employment beyond the more than 2,000 associates already serving customers in the state,” said Alicia Boler Davis, Amazon’s Vice President of Global Customer Fulfillment.

“We are pleased that Amazon has chosen Utah again for such a strategic part of Amazon’s business by setting up another fulfillment center in West Jordan. As the ‘Crossroads of the West,’ Utah is the perfect place for companies in the...

Target Introduces Food and Beverage Brand 

Target Corporation today announced the introduction of Good & Gather, Target’s largest owned Food & Beverage brand. Grounded in guest research, the flagship brand will offer a wide range of food and beverage products that prioritize taste, quality ingredients and ease, at a great value. Good & Gather will be available in stores and online on Target.com for same-day delivery beginning September 15, 2019.

“Our guests are incredibly busy and want great-tasting food they can feel good about feeding their families,” says Stephanie Lundquist, executive vice president and president, Food & Beverage, Target. “We saw this as a huge opportunity for Target to help. So our team got to work on our most ambitious food undertaking yet, reimagining our owned food brands to serve up...

FAT Brands Continues Expansion in Pakistan With 5-Unit Development Deal

FAT(Fresh. Authentic. Tasty.) Brands Inc, parent company of Fatburger, The Last Great Hamburger Stand, announces today the development of five co-branded Fatburger and Buffalo’s Express concepts in Pakistan. In partnership with Crescent Star Foods (Pvt), the co-branded restaurants will increase the brand’s presence in Pakistan to six restaurants.

Hollywood's iconic Fatburger is best known for its mouthwatering, juicy burgers made famous by founder Lovie Yancey in Los Angeles more than 70 years ago. Each Fatburger is made-to-order with traditional fixings and delicious add-on items such as bacon, onion rings, cheese and egg. Buffalo’s Express further complements Fatburger’s menu offerings with...

This Week in Retail: Prepare for Pre-Season Protein Demand

We’re halfway through August, but protein demand doesn’t expire with the summer season. In fact, consumers may even be stepping up their purchases at the meat case as the NFL preseason is officially underway! And the regular season is just around the corner.

It’s been six long months since fans were treated to their favorite teams facing off on the gridiron. Now, everyone is getting in on the action. Retailers across the board are running promotions to capitalize on the return of football frenzied spending.

Grocers are changing up end caps from summer smore displays to game day essentials. Grilling ads are shifting from summer barbecues in the backyard to...

Industry Innovator, Emanuel Puglisi, Passes Away 

Emanuel Puglisi, industry innovator, passed away on Wednesday, August 14, 2019, at the age of 95.

Emanuel was born in Ragusa, Sicily and came to live in Greenwich Village in 1937, working as a cabinet maker in New York City. Emanuel served in the U.S. Army during World War II, and settled in Howell following the war. He was the founder, owner, and operator of Puglisi Egg Farms, Howell, until retiring in 1986. Emanuel built the first high-rise poultry building in America and hosted people throughout the world to see his innovative techniques. Emanuel was also a past president of the New Jersey Poultry Products Council and a golden egg recipient...

Tyson Foods Recalls Weaver Brand Ready-To-Eat Chicken Patty Products

Tyson Foods Inc., a Pine Bluff, Ark. establishment, is recalling approximately 39,078 pounds of Weaver brand frozen chicken patty product that may be contaminated with extraneous materials, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The frozen, fully cooked chicken items were produced on January 31, 2019. The following products are subject to recall...

ANALYSIS: Cold Storage Holdings: A Prognosticator of Wing Performance?

As preseason football season gets underway, fans are beginning to flock to their local drinking hole to watch the game and enjoy America’s favorite finger food: chicken wings. Taking a look at inventory levels and price reaction in the period leading up to...

July Retail Sales Show Strong Gains

Retail sales were up 0.9 percent in July seasonally adjusted from June and up 5.6 percent unadjusted year-over-year, the National Retail Federation said today. The numbers exclude automobile dealers, gasoline stations and restaurants.

“July’s strong results are consistent with a confident consumer,” NRF Chief Economist Jack Kleinhenz said. “Households are in good shape with spending and that should continue as long as the labor market remains healthy. But it’s important to remember that today’s data is looking backward at what was happening a month ago. The impact of volatile financial markets and increased trade tensions in recent weeks may put a wind of caution in consumer spending as...

SpartanNash Announces Second Quarter 2019 Financial Results

SpartanNash Company today reported financial results for the 12-week second quarter and 28-week period ended July 13, 2019.

“Consistent with our comments in the press release issued earlier this week, the Board of Directors and I remain confident in the Company’s overall strategic direction,” said Dennis Eidson, Interim President and Chief Executive Officer. “I am excited to work with our team of talented associates as we focus our efforts on improved execution, while continuing to...

Food Lion to Expand "To-Go" Grocery Pick-Up Service at Multiple Stores

Food Lion continues to expand its “Food Lion To-Go" grocery pick up service at multiple area locations beginning August 19, 2019.

A ribbon cutting ceremony will be held at each location at 8:45 a.m. on August 19th, and to help introduce customers to this new service, Food Lion is offering shoppers their first pickup for free.

The launch of this new, convenient service enables Food Lion to continue to deliver on its promise to ensure an easy, fresh and affordable grocery shopping experience, and it allows customers to order and pick up their groceries in as little as an hour.

“We are so excited to expand this convenient service to more stores in the Food Lion footprint and enable customers to spend more time...

House of Raeford Farms Recognized for Outstanding Safety Performance

The Joint Industry Safety and Health Council has awarded six House of Raeford Farms locations with safety awards for outstanding performance through the implementation of innovative and effective employee safety and health programs.

Two House of Raeford processing plants—Arcadia, LA and Rose Hill, NC – were each recognized for their commitment to safety with Awards of Distinction during the 2019 National Safety Conference for the Poultry Industry in Destin, FL.

Awards of Distinction are the highest level of recognition a company can receive from the Joint Industry Safety and Health Council. Injury statistics over three years and...

Walmart Releases Q2 FY20 Earnings

Total revenue was $130.4 billion, an increase of $2.3 billion, or 1.8%. Excluding currency, total revenue was $131.7 billion, an increase of $3.7 billion, or 2.9%.

Walmart U.S. comp sales increased on a two-year stacked basis by 7.3%, which is the strongest growth in more than 10 years. Segment operating income increased 4%, marking the fifth consecutive quarter of growth.

Walmart U.S. eCommerce sales growth of 37% includes strong growth in online grocery.

Sam's Club comp sales increased 1.2%, and eCommerce sales grew 35%. Reduced tobacco sales negatively affected...

ANALYSIS: Turkey Thigh Meat and Boneless Pork Hams At a Crossroads

From an historical standpoint, marketers of turkey thigh meat and boneless pork ham are no strangers to some cross-protein rivalry...

Fast Food Ranked in Top 40% of All Industries in MBLM's Brand Intimacy Study

The fast food industry ranked sixth out of the 15 industries studied in MBLM's Brand Intimacy 2019 Study, which is the largest study of brands based on emotion. Brand Intimacy is defined as the emotional science that measures the bonds we form with the brands we use and love. Chick-fil-A rose to the #1 spot in fast food followed by Dunkin'. Starbucks dropped to third after ranking first for the previous two years. The top 10 for the industry was rounded out by: McDonald's, Taco Bell, Subway, Wendy's, Burger King, Chipotle and KFC.

Chick-Fil-A also ranked 10th in the overall industry. In addition to performing well in MBLM's study, the brand increased its revenue at a 15% annual rate from 2010 to 2018, while the industry as a whole only grew by 3.4%.1 In 2018, Chick-fil-A also reported more than $10 billion in revenue, its 51st consecutive year of sales growth.2 This correlates to the study findings, which revealed that...

Ruby Tuesday to Roll Out Two New Meals for a Limited Time

To reach both current and new guests capitalizing on the Ruby Tuesday commitment to flavor and freshness, Ruby Tuesday is rolling out the flavor-filled Cheesy Crunch Burger and Honey Crunch Chicken Sandwich across 460 participating locations for a limited time only, Aug. 19 through Sept. 23. Combining highly appealing ingredients that are both crunchy and spicy, the new items focus on big flavor at an everyday value price of $7.99.

“We want to create meals that highlight the brand’s belief that fresh is best, flavor is key and comfort is a must,” said Jenifer Boyd Harmon, chief marketing officer for Ruby Tuesday. “In addition, we wanted to remind consumers that Ruby Tuesday offers value you can count on without compromising...

Food And Beverage Industry Seen As Growth Market in U.S. Retail Real Estate Sector

A healthy appetite for food and beverage businesses continues to fuel significant growth in one of the hottest areas in the U.S. retail real estate sector, according to BBG, a leading due diligence commercial real estate firm.

In U.S. cities across the country, more restaurants, bars and grocery stores are opening or expanding operations to meet growing demand for these services, as a result of an ongoing demographic shift in how and where people live, work and play.

That has led to these businesses growing their share of total retail spending, from 24.3 percent during the past decade, compared with 22.7 percent prior to the 2007-2008 recession, according to one recent industry report. F&B sales now account for nearly...

Secretary Perdue Swears in USDA’s Principal Deputy Chief Financial Officer Scott Soles

U.S. Secretary of Agriculture Sonny Perdue today administered the oath of office to swear in Scott Soles to serve as the U.S. Department of Agriculture’s (USDA) Principal Deputy Chief Financial Officer.

“Scott Soles brings decades of experience with him to Washington and we are excited to welcome him to our USDA team,” Secretary Perdue said. “With over 30 years of experience in internal and external financial auditing, consulting, and finance operations, Scott will bring valuable...

U.S. Consumers’ Desire to Use Food as Medicine is Evidenced by Emerging Superfoods

While it is commonly understood that good nutrition promotes general health, consumers are becoming increasingly aware of how their food and beverage choices can help them manage and, in some cases, reverse certain medical conditions, according to health and wellness research by The NPD Group. NPD finds that about a quarter of U.S. adults are trying to manage a health or medical condition by making healthy food and beverage choices.

Younger adults, ages 18-24, are particularly interested in using foods to improve their health. Last year young adults chose foods and beverages with healthy profiles for 19 percent of their meals and in-between snacks. For example, nine percent of adults say a top nutrition goal is protecting brain health and when asked about foods that promote brain health, young adults were 45 percent more likely to...

Kraft Heinz Reports Preliminary Financial Results for the First Half Of 2019

The Kraft Heinz Company (Nasdaq: KHC) (“Kraft Heinz” or the “Company”) today reported preliminary financial results for the first half of 2019 that reflected lower net sales despite improving consumer takeaway trends in key markets, as well as the adverse impacts of ongoing cost inflation, greater investments, and higher depreciation and amortization expenses. Results also included preliminary non-cash impairment charges related to goodwill and intangible assets that more than offset a one-time gain on the sale of the Company's India nutritional beverages business.

“The level of decline we experienced in the first half of this year is nothing we should find acceptable moving forward," said Kraft Heinz CEO Miguel Patricio. "We have significant work ahead of us to set our strategic priorities and change...

Applebee’s Nationwide Delivery Has Arrived

Applebee’s Neighborhood Grill + Bar just made dining at home or on-the-go easier, more convenient and more flavorful with Applebee’s Delivery℠ available at participating restaurants nationwide. Now, wherever you are, you can order online at Applebees.com or through the mobile app and Applebee’s Delivery, powered by DoorDash, will have your favorite mouthwatering Boneless Chicken Wings and Loaded Shrimp Fajitas delivered to your door hot and fresh. For those meals when you’re too tired to cook or just don’t want to pack the family in the car, Applebee’s Delivery has your back.

Applebee’s is celebrating the news in two big ways. First, hungry fans can take advantage of free delivery now through Sunday, September 1 when ordering Applebee’s Delivery. And to commemorate Applebee’s new partnership with NBC Sports’ Football Night in America, free delivery will continue...

Pilgrim’s Releases 2018 Sustainability Report

Pilgrim’s Pride Corporation (Nasdaq: PPC) today announced the release of its 2018 Sustainability Report. The interactive digital report provides a comprehensive overview of the company’s recent achievements and progress toward 2020 sustainability goals.

“Our 2018 Pilgrim’s Sustainability Report shares the ways our 55,000 team members and more than 5,400 family farm partners are contributing to environmental, social and economic progress in the U.S., Puerto Rico, Mexico and Europe,” said Pilgrim’s Global President and CEO Jayson Penn. “We are committed to improving the lives of families around the world through high-quality, sustainable food solutions and are focused on long-term success for our business and our stakeholders.”

The 2018 report transparently details Pilgrim’s achievements related to team members, customers and...

Performance Food Group Reports Fourth-Quarter and Full-Year Fiscal 2019 Results

Performance Food Group Company today announced its fourth-quarter and full-year fiscal 2019 business results. “Fiscal 2019 was a successful year for PFG, and I’m very pleased with our team’s execution,” said George Holm, PFG’s Chairman, President and Chief Executive Officer. “Our strong top-line growth, combined with increased gross profit per case, led to profitability at the high end of our expectations for the year. Our core business segments delivered strong financial results led by Vistar’s double-digit EBITDA growth. Looking ahead to fiscal 2020, we believe our two recently announced strategic acquisitions position us well across our business and we expect fiscal 2020 to be another year of solid earnings growth.”

Fourth-Quarter Fiscal 2019 Highlights

• Total case volume grew 9.2%
• Net sales increased 28.4% to $5.9 billion
• Gross profit improved 14.4% to...

FAT Brands Reports Fiscal Second Quarter 2019 Financial Results

FAT Brands Inc. today reported fiscal second quarter 2019 financial results for the 13-week period ending June 30, 2019.

Andy Wiederhorn, President and CEO of FAT Brands, commented, “We are pleased to report that the considerable growth in revenues was matched by an equally robust increase in adjusted EBTDA and that we leveraged our G&A expenses on our expanded top-line.”

Wiederhorn continued, “We are also excited to have closed on our acquisition of Elevation Burger in June. The brand is well-aligned with our own commitment to fresh, authentic, tasty food and we are confident that it has considerable opportunity to expand domestically and internationally with its organic, free-range, grass-fed offerings. Elevation Burger reflects another synergistic opportunity for...

Retailers Respond to Tariff Delay Ahead of Holiday Season

The National Retail Federation issued the following statement from Senior Vice President for Government Relations David French after the Trump administration announced it would delay new tariffs on certain consumer products until December 15. Tariffs on other products are scheduled to take effect September 1.

“While we are still reviewing the details, we are pleased the administration is delaying some tariffs ahead of the holiday season and acknowledging the impact on American consumers. Still, uncertainty for U.S. businesses continues, and tariffs taking effect September 1 will result in higher costs for American families and slow the U.S. economy. During this delay period, we urge the administration to...

Tyson Foods Appoints New Prepared Foods Leader

Tyson Foods has named Chief Marketing Officer Noelle O’Mara to lead its growing prepared foods business.

O’Mara’s new role involves managing all aspects of Tyson Foods’ $9 billion prepared foods business, which includes billion-dollar brands Tyson, Jimmy Dean, and Hillshire Farm. The job also includes oversight of one-third of Tyson Foods’ manufacturing facilities and more than 25,000 team members.

O’Mara has more than 17 years of general management experience that includes profit and loss responsibility, food marketing and innovation. She joined Tyson Foods in April 2016 as vice president, new business models. She served as general manager and senior vice president of the Tyson and Jimmy Dean business units before being named...

Oregon Passes Cage-Free Egg Law 

Senate Bill 1019 has been signed into law in Oregon, requiring all eggs sold within the state border to come from cage-free facilities. Through passing this legislation in Oregon, all states on the west coast now have laws in place requiring eggs to come from cage-free hens. Similar to laws passed in California and Washington, the new law in Oregon requires that eggs produced and sold in the state come from cage-free barns that have scratching areas, perches, nest boxes, dust bathing areas, and other enrichments that allow the hens to exhibit natural behavior. These standards are based off of the United Egg Producer's Animal Husbandry Guidelines for U.S. Egg-Laying Flocks, and will go into effect by the end of 2023.

The term "egg-laying hen," addressed in the bill, applies to any female domesticated chicken, turkey, duck, goose, guinea fowl, or other species of fowl that is kept for the purpose of egg production. Egg products are included in this new law, but does include products such as...

UNFI Announces Management Changes

United Natural Foods, Inc. today announced changes to its senior management team. Mike Zechmeister will resign his position as Chief Financial Officer, effective August 23, 2019, to pursue an opportunity outside the Company. John W. Howard has been appointed Interim Chief Financial Officer while the Company begins an internal and external search for Mr. Zechmeister's permanent replacement. Mr. Howard joined UNFI in July as Senior Vice President, Finance and Accounting.

Steven L. Spinner, UNFI's Chairman and Chief Executive Officer said, "I thank Mike for his contributions to UNFI over the past four years of significant growth and change. In the near term, we're fortunate to have John's experience and financial acumen available to...

Domino's Launches National E-Bike Program for Pedal-Powered Delivery

Domino's Pizza, the largest pizza company in the world based on global retail sales, knows a thing or two about pizza delivery, including the fact that cars aren't always the most efficient way to get hot, delicious pizzas to hungry customers. A bike is often a better solution to traffic congestion and parking challenges. Domino's stores across the nation will soon have the option to use custom e-bikes for pizza delivery through a partnership with Rad Power® Bikes – North America's largest e-bike brand.

"Domino's tested e-bikes in a number of corporate-owned stores across Houston, Miami and New York earlier this year, and those stores saw improvements in overall delivery and service," said Tom Curtis, Domino's executive vice president of corporate operations. "They also experienced labor benefits, as the stores were able to hire from a wider pool of candidates, including those who...

Sysco Acquires J. Kings Food Service Professionals

Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, today announced it has acquired J. Kings Food Service Professionals, a New York broadline distributor with approximately $150 million in annual sales.

J. Kings Food Service Professionals, headquartered in Holtsville, New York, was founded by John King more than 45 years ago. Today, the company has grown to one of the leading independent broadline distributors in the New York area, also servicing customers in Connecticut and New Jersey. The majority of the company’s customers are independent restaurant operators, but the company also serves institutional, retail and multi-unit customers.

“J. Kings is a well-respected, New York area broadline distributor, and we are happy to welcome them into the Sysco family of businesses,” said Greg Bertrand, Sysco’s executive vice president, U.S. foodservice operations. “As Sysco continues to focus on...

Yum! Brands Announces CEO Succession Plan to Drive Next Chapter of Global Growth 

Yum! Brands, Inc. (NYSE: YUM) today announced that its Board of Directors has unanimously elected David Gibbs as Chief Executive Officer, effective January 1, 2020, and appointed him to the Company’s Board, effective November 1, 2019. Gibbs, 55, who currently serves as Yum! Brands President and Chief Operating Officer and oversees the global KFC, Pizza Hut and Taco Bell divisions, will succeed Greg Creed, 62, who has announced his decision to retire at the end of 2019 after a successful 25-year career with the Company.

“I’ve had the privilege of partnering with our franchisees to grow the three iconic brands within the Yum! Brands portfolio for over 30 years and am honored to follow in Greg’s footsteps,” Gibbs said. “It's thanks to Greg’s terrific leadership and innovative brand building during some of the most pivotal moments in our history that Yum! Brands has emerged as...

USPOULTRY Releases Report of Antimicrobial Use Across U.S. Broiler Chickens and Turkeys

U.S. Poultry & Egg Association announced last week the release of the U.S. poultry industry’s first-ever report quantifying antimicrobial use on broiler chicken and turkey farms. The new report shows dramatic reductions of turkey and broiler chicken antimicrobial use over a five-year timeframe. As part of its commitment to the transparency and sustainability of a safe food supply, the poultry industry aims to strike a balance between keeping poultry flocks healthy and the responsible use of antimicrobials, especially those medically important to human health.

Under the research direction of Dr. Randall Singer, DVM, PhD, of Mindwalk Consulting Group, LLC, this report represents a five-year set of data collected from 2013 to 2017 regarding the use of antimicrobials in U.S. broiler chickens and turkeys throughout their lifetime, from hatchery to day of harvest. It was prepared through a systematic collection of on-farm antimicrobial use data to capture the...

NCC Reaches Out to President Trump Regarding Recent ICE Actions in Mississippi

As a result of the U.S. Immigration and Customs Enforcement (ICE) officers arresting approximately 680 people in sweeping raids at seven sites in six different cities in Mississippi on Wednesday, August 7, the National Chicken Council sent the following letter on August 8 to President Trump.

Dear President Trump,

The National Chicken Council (NCC) writes to you regarding the recent Immigration and Customs Enforcement (ICE) actions in Mississippi on August 7, 2019. As these recent events have shown, the U.S. chicken industry is heavily affected by our nation’s immigration policy. We are not in a position to comment on any specific incident and do not presume to do so, but we do wish to...

SpartanNash Announces Leadership Transition

SpartanNash Company (Nasdaq: SPTN) (“SpartanNash” or the “Company”) today announced that its Board of Directors has appointed the Company’s Chairman, Dennis Eidson, to the additional roles of Interim President and CEO, effective immediately. Mr. Eidson will serve in these additional roles until the next CEO is identified. Mr. Eidson served as CEO from 2008-2017, and previously served as SpartanNash’s President, Chief Operating Officer and Executive Vice President of Marketing and Merchandising during his 16-year tenure with the Company. The Board also announced that it has accepted the resignation of President and CEO, Dave Staples, who is leaving the Company and the SpartanNash Board.

“The Board remains confident in the Company’s strategic direction and its ability to generate top line growth; however, execution has fallen short of our expectations and we believe that now is the time for...

Sysco Reports Fourth Quarter and Full Year 2019 Results

Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week fourth fiscal quarter and its fiscal year ended June 29, 2019.

Fourth Quarter Fiscal 2019 Highlights

• Sales increased 1.0% to $15.5 billion
• Gross profit increased 2.1% to $3.0 billion; gross margin increased 21 basis points
• Operating income increased 5.4% to $720.5 million; adjusted¹ operating income increased 6.6% to $818.1 million
• EPS increased $0.18 to $1.03; adjusted EPS increased...

Taylor Farms Illinois Inc Recalls Chicken Products

Taylor Farms Inc., a Chicago, Ill. establishment, is recalling approximately 342 pounds of breaded chicken products due to a processing defect that may have led to undercooking of products, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The ready-to-eat breaded chicken items were produced August 3, 2019. The following products are subject to recall...

ANALYSIS: “Smart” Poultry Houses Influential in Seasonally Heavy Bird Weights

When it comes to commodity valuation, there are numerous internal and external variables which have the capacity to influence the supply and demand sides of the equation...

Nathan's Famous, Inc. Reports First Quarter Results

Nathan's Famous, Inc. (“Nathan’s”, the “Company”,  today reported results for its first fiscal quarter ended June 30, 2019.

For the thirteen-week period ended June 30, 2019 (“first quarter fiscal 2020”):

• Revenues were $30,518,000, as compared to $30,168,000 during the thirteen weeks ended June 24, 2018;
• Income from operations was $9,448,000, as compared to $9,087,000 during the thirteen weeks ended June 24, 2018;
• Adjusted EBITDA1 , a non-GAAP financial measure, was $10,173,000 as compared to $9,595,000 for the thirteen weeks ended...

Smithfield Foods Donates More Than 50,000 Pounds Of Protein To Central Illinois Foodbank

Smithfield Foods, Inc. donated more than 50,000 pounds of protein to Central Illinois Foodbank. Smithfield’s contribution is part of the company’s 2019 Helping Hungry Homes® donation tour, Smithfield’s signature hunger-relief initiative focused on alleviating hunger and helping Americans become more food secure. The donation, equivalent to more than 200,000 servings of protein, will help families fight hunger across the state.

“Central Illinois Foodbank aims to provide food and develop awareness of and creative solutions for food insecurity throughout our 21-county service area..."

Retail Imports Remain at Near-Record Levels Despite Tariffs

Imports at the nation’s major retail container ports are expected to continue at near-record levels this month and the remainder of the year despite a new round of tariffs on goods from China, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Even with virtually everything American imports from China soon to be subject to tariffs, it isn’t quick or easy for retailers to change their supply chains,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “That means American families are ultimately going to pay more for goods they can’t do without. And even if sourcing eventually shifts away from China, it will simply come from other countries. It’s time to stop punishing American businesses, workers and families for China’s wrongdoing.”

President Trump announced last week that new 10 percent tariffs on an additional $300 billon in Chinese goods will take effect on September 1. Coupled with 25 percent tariffs imposed on...

Technomic: Beverage Category Ripe with Opportunity 

Beverages have always played a significant role in foodservice and the category is continuously evolving. Technomic’s recently released Away-from-Home Beverage Study covers how consumer demands and business conditions have shifted within the past few years.

“Beverage growth has outpaced that of foodservice within the past few years thanks to innovative options such as nitro coffee, plant-based milks and other alternative beverages entering this space,” explains David Henkes, principal at Technomic. “Although challenges like third-party delivery are encroaching on beverage occasions, the category has a lot of opportunities available through offering a wide variety of innovative beverage options to their guests.”

Key takeaways from the report include...

New Facility to Boost Tyson Foods’ Automation and Robotics Efforts

Tyson Foods, Inc. (NYSE: TSN) has created a new, state-of-the-art facility designed to help the company develop more automation and robotics for its food production plants.

The Tyson Manufacturing Automation Center (TMAC) officially opened in downtown Springdale today. The center provides space for the development of new manufacturing solutions and collaboration with the company’s information technology team and equipment suppliers. It also serves as a location for team member training on new technology.

The investment is part of Tyson Foods’ focus on continuous improvement. The development of new technology and processes will help improve...

ANALYSIS: Turkey Demand Drives YoY Export Advances

As evidenced by the USDA’s most recent turkey export data, June turned out to be a fruitful month for those on the sell side of the equation...

Immigration Agents Raid Mississippi Meat Processing Plants

Yesterday, Immigration and Customs Enforcement (ICE) agents raided multiple Mississippi poultry processing facilities to execute federal criminal warrants. Mike Hurst, U.S. Attorney, said, “U.S. Immigration and Customs Enforcement’s (ICE) Homeland Security Investigations (HSI) special agents are executing federal search warrants today at multiple locations across the state of Mississippi as part of a coordinated operation with the U.S. Attorney’s Office for the Southern District of Mississippi pursuant to ongoing HSI administrative and criminal investigations."
 
During a press conference, Mike Hurst first gave credit to Customs Enforcement and Homeland Security for enforcing the law through arrests that were part of a year long investigation process. Hurst added that as a result of hard work, the largest single state immigration enforcement operation in the nation's history took place...

US Foods Launches US Foods Direct

US Foods Holding Corp. (NYSE: USFD) today announced the addition of US Foods Direct to the company’s exclusive e-commerce platform. This new offering is integrated into US Foods’ online ordering platform, providing operators with an endless aisle of more than 40,000 specialty products and counting. US Foods Direct gives operators easier access to hard-to-find ingredients, such as specialty spices, seasonings, herbs, pastas, flours, sauces or oils, and innovative, on-trend items such as plant-based proteins, dairy-free or vegan alternatives, and gluten-free products. With US Foods Direct, operators now have a one-stop shop for distinctive ingredients that will set their menu apart from the competition.

Sixty-three percent of foodservice operators say they want to improve on offering something different from the competition. Unfortunately, for many operators who are searching for unique ingredients, this can mean sourcing products from other specialty food channels which require longer lead times and additional resources. With sixty two percent of operators reporting...

Wayne Farms Introduces All Natural Ladybird Premium Chicken Brand 

After a successful market entry and a round of market tests Wayne Farms LLC is launching its new brand LADYBIRD Premium Chicken in select Northeast locations and planning wider distribution by the end of the year.

LADYBIRD Premium Chicken was developed for foodservice and cash and carry customers looking to capitalize on trending preferences in the consumer marketplace while sourcing a more tender chicken product. Humanely raised on family farms, the all natural line of fresh products are made from smaller, all-female chickens providing more consistent sizing and portion control. LADYBIRD chicken is aged on the bone before processing, optimizing...

The Wendy's Company Reports Second Quarter 2019 Results

The Wendy's Company (Nasdaq: WEN) today reported unaudited results for the second quarter ended June 30, 2019.

"We delivered another quarter of strong earnings growth and are pleased with our continued progress to build an even stronger foundation for the Wendy's® brand," President and Chief Executive Officer Todd Penegor said. "We are executing on our plan to accelerate same-restaurant sales in North America and drive global restaurant expansion, fueled by a healthy restaurant economic model . Our relentless focus on bringing every element of The Wendy's Way to life by providing...

Top Taste Food Warehouse Recalls Meat and Poultry Products 

Top Taste Food Warehouse, a Brooklyn, N.Y. establishment, is recalling an undetermined amount of pork and chicken dumpling product because they were produced, packed, and distributed without the benefit of USDA inspection and used the mark of inspection without authorization, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The frozen pork with vegetable dumpling and the chicken with vegetable dumpling items were produced July 30, 2018 through July 31, 2019. The following products are subject to recall...

Papa John's Announces Second Quarter 2019 Results 

Papa John’s International, Inc. (NASDAQ: PZZA)today announced financial results for the three and six months ended June 30, 2019.

Highlights

• Second quarter 2019 earnings per diluted share of $0.15
• Excluding Special items, adjusted earnings per diluted share of $0.28 compared to $0.48 for the second quarter of 2018
• Second quarter system-wide North America comparable sales decrease of 5.7%
• Second quarter international comparable sales increase of...

Aramark Acquires On-Demand Food Delivery Service, Good Uncle

Aramark (NYSE:ARMK), a global leader in food, facilities management and uniforms, today announced the acquisition of privately-held Good Uncle, an innovative, app-based on-demand food delivery service that brings freshly prepared, restaurant quality meals to conveniently located pick-up points around college campuses. The addition of this concierge service to the Aramark portfolio furthers the company’s commitment to advancing innovation through culinary-and technology-driven solutions that better serve customers and clients.

“We are pleased to welcome the Good Uncle team to the Aramark family. As consumer dining habits evolve, we’re continually looking for new ways to disrupt the marketplace with innovative services,” said Eric J. Foss, Aramark’s Chairman, President and CEO. “Good Uncle strengthens our ability to offer...

High Consumer Expectations, Low Levels of Appreciation Make it Tough to Be a Farmer

Add conflicting consumer expectations to the list of reasons farming is a tough row to hoe. In its new global study, Cargill found consumers had a hard-to-satisfy wish list for those who put food on our tables—with most claiming to feel knowledgeable about how our food is raised. Farmers should care most about “providing safe, healthy, abundant and affordable food,” said a majority of survey takers. Yet those same respondents would prefer their food come from smaller/specialty, local or organic farms—which can’t necessarily compete on cost.

“Farmers are foundational to feeding the world in a safe, responsible and sustainable way,” says Pilar Cruz, president of Cargill’s feed and nutrition business. “But they do so under pressure. On one hand, affordable food is central to many families’ budgets. On the other, people are questioning the farming approaches that have made food more available and affordable. Cargill sees all viewpoints because we partner with...

Meal Kits and Online Grocery Shopping Revitalize Interest in Home Cooking

More than half of U.S. adults claim they really enjoy cooking (53%) and more than a third consider the kitchen to be the most important room in the home (35%), according to data in the new report Eating Trends: Cooking & Food Shopping from market research firm Packaged Facts. These percentages are up compared to a decade ago.

Packaged Facts found that most people who don't cook at home either have a lack of time to grocery shop and meal prep or they lack confidence in their cooking skills. The latter reason is especially prevalent among Gen Z adults (ages 18-24) and to a lesser extent Millennials (ages 25-39).

The meal kit industry is arguably the best example of a food industry segment that's making it easier for adults to start cooking more at home again. The products are marketed to emphasize...

Aramark Reports Third Quarter Results

Aramark (NYSE: ARMK) today reported third quarter fiscal 2019 results.

“Our performance in the third quarter was strong and broad-based, anchored in a relentless focus on innovative growth strategies that directly engage the millions of consumers we serve every day,” said Eric J. Foss, Aramark’s Chairman, President and CEO. "We continue to advance our brand and product offerings as part of our commitment to combine technology, convenience and curation across our portfolio. This disciplined approach, combined with the exemplary efforts of our global team members, drove solid year-to-date results, positioning us well to achieve our full year expectations.

“The foundation we are creating provides us with ample opportunity to infuse sales growth and optimize our investments to scale the business,” Foss added. “As a testament to our enhanced...

US Foods Reports Second Quarter Fiscal 2019 Earnings

US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today announced results for the second quarter of fiscal 2019.

Second Quarter Fiscal 2019 Highlights

• Total case volume increased 1.7%; independent restaurant case volume increased 4.8%
• Net sales increased 4.6% to $6.4 billion
• Gross profit increased 2.5% to $1.1 billion
• Income before income taxes decreased $7 million to $154 million
• Net income decreased $10 million to $116 million
• Adjusted EBITDA increased 6.7% to...

QDOBA Mexican Eats Launches New Keto, Vegan, and Double Protein Bowls

QDOBA Mexican Eats, a leading Mexican fast-casual chain, is adding three new chef-inspired bowls to its restaurants systemwide. Following the successful introduction of Impossible™ – a plant-based protein – to its menu, the brand continues to expand its lifestyle options to fit guests’ varying lifestyles. QDOBA’s latest creations include:

• Smoked Brisket Keto Bowl: Smoked brisket and hand-smashed guacamole sit on a bed of crisp lettuce, topped with made in-house pico de gallo, salsa verde and shredded cheese.
• Grilled Fajita Vegan Bowl: Sautéed fajita vegetables, hand-smashed guacamole, corn salsa, made in-house pico de gallo and salsa verde piled high on seasoned...

Blue Apron Holdings Reports Second Quarter 2019 Results

Blue Apron Holdings, Inc. (NYSE: APRN) announced today financial results for the quarter ended June 30, 2019.

“Blue Apron’s next phase will be defined by focusing on our customers and our core business in order to return the business to growth in 2020,” said Linda Findley Kozlowski, Blue Apron Chief Executive Officer. “We’ve clearly and thoroughly demonstrated results in operational optimization and fiscal discipline throughout the organization. Now, we need to prove we can grow our customer base and revenue through both better execution and new initiatives that enable our core business to reach its full potential. Our market opportunity is large and we believe that it is growing, leading to...

Shake Shack Announces Partnership With Grubhub for Nationwide Delivery

Shake Shack (NYSE:SHAK), the modern day “roadside” burger stand, today announced they have entered into an integrated partnership with Grubhub (NYSE:GRUB), the nation's leading online and mobile food-ordering and delivery marketplace. The partnership reflects Shake Shack’s long-term digital growth and innovation strategy to make its iconic food more accessible to consumers through an increasing number of channels.

Grubhub and its Seamless brand in Shake Shack’s hometown of New York City - will be Shake Shack’s national delivery partner with direct-to-POS integration for menu syncing and order submission. With Grubhub’s “Just in Time” technology, pickups by drivers will be timed to the moment an order is ready, resulting in faster delivery, fresher food and a better guest experience. Shake Shack will have access to enhanced tools to analyze...

Tyson Foods Reports Third Quarter Fiscal 2019 Results

Tyson Foods, Inc., one of the world’s largest food companies and a recognized leader in protein with leading brands including Tyson, Jimmy Dean, Hillshire Farm, Ball Park, Wright, Aidells, ibp and State Fair, today reported the following results:

First Nine Months Highlights

•GAAP EPS of $4.51, down 33% from record prior year (prior year included a one-time tax benefit of $2.71)
•Adjusted EPS of $4.25, down 7% from record prior year
•GAAP operating income of $2,223 million; Adjusted operating income of $2,291 million
•Total Company GAAP operating margin...

This Week in Retail: Enter the Dog Days

Goodbye July—hello August. The dog days of summer are here as we enter the lazy hazy final crazy days of the season.  

August is often referred to as the “Sunday of summer” and that perspective could bode well for retail sales as consumers seek to soak up the last few weeks of sunshine and outdoor activity before the school year resumes and the weather begins to transition again.

Beef is killing the retail game in recent weeks, taking the top weekly spot for protein feature volume during the entire month of July. Currently, beef ads account for 27 percent of circular real estate, beating out second placed seafood at 23 percent. Steak features make up about half...

Restaurant Brands International Reports Second Quarter 2019 Results

Restaurant Brands International Inc. today reported financial results for the second quarter ended June 30, 2019.

Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "During the second quarter, we grew global system-wide sales nearly 8% and crossed two restaurant milestones with more than 26,000 restaurants globally, including more than 18,000 Burger King restaurants."

"We are excited by the tremendous opportunity for restaurant growth in front of us, most recently highlighted by new partnerships we announced for Popeyes in China and Spain, and Tim Hortons in Thailand," continued Cil. "We are working closely with our restaurant owners to deliver an enhanced guest experience including...

ANALYSIS: Automated Deboning Diluting Seasonal Volatility?

With the national average unemployment rate currently situated at 3.7%, it comes as no surprise that ongoing labor shortages have been a major source of frustration for chicken processors...

Retailers Respond to Administration’s Latest Tariff Escalation

The National Retail Federation today issued the following statement from Senior Vice President for Government Relations David French in response to the Trump administration’s plans to impose a 10 percent tariff on $300 billion worth of goods imported from China beginning September 1.

“As we’ve said repeatedly, we support the administration’s goal of restructuring the U.S.-China trade relationship. But we are disappointed the administration is doubling-down on a flawed tariff strategy that is already slowing U.S. economic growth, creating uncertainty and discouraging investment. These additional tariffs will only threaten U.S. jobs and raise costs for American families on everyday goods.

“The tariffs imposed over the past year haven’t worked, and there’s no evidence another tax increase on American businesses and consumers will...

Dunkin' Brands Reports Second Quarter 2019 Results

Dunkin' Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin' and Baskin-Robbins (BR), today reported results for the second quarter ended June 29, 2019.

"Continuing the momentum established earlier in the year, our second quarter performance was highlighted by double-digit sales growth of espresso, our national value platforms, and terrific consumer reception to our latest menu innovation, our better-for-you Power Platform. We're attracting a new consumer with both espresso and our Power Platform and will continue to bring more on-trend innovation to fuel guests throughout the day," said David Hoffmann, Dunkin' Brands Chief Executive Officer and President of Dunkin' U.S. "Additionally, as a result of...

Pilgrim's Pride Reports Second Quarter Results

Pilgrim’s Pride Corporation (NASDAQ: PPC) reports second quarter 2019 financial results.

Second Quarter Highlights

• Net Sales of $2.84 billion.
• Net Income of $170.1 million.
• Operating Income margins of 9.8% in U.S., 17.5% in Mexico and 4.5% in Europe operations, respectively.
• Adjusted EBITDA of $349.3 million (or a 12.3% margin), and Adjusted EPS of $0.69.
• U.S. portfolio continues to deliver strong results in our differentiated segments, while more market features and promotional activity of chicken supported better demand in the commodity segment. We continue to evolve our well-balanced portfolio to further...

Domino's Appoints Lisa Price Executive Vice President, Chief Human Resources Officer

Domino's Pizza, (NYSE: DPZ), the largest pizza company in the world based on global retail sales, today announced that Lisa V. Price will be joining the company as executive vice president, chief human resources officer, effective Aug. 26. Price will be a part of Domino's executive leadership team and will report directly to Chief Executive Officer Ritch Allison.

Price joins Domino's from Nordstrom, where she most recently served as senior vice president of human resources. From 2000-2015, Price had progressively more responsible roles in human resources at Starbucks Coffee Co., most recently as vice president of partner resources. With the exception of a year at Nordstrom in 2000, Price spent most of her career at Starbucks, joining the brand in 1994.

"Lisa brings extensive experience in both retail and restaurants to Domino's," said Allison. "She began her career in the stores at Starbucks and eventually worked her way up...

Maple Leaf Foods Reports Second Quarter 2019 Financial Results

Maple Leaf Foods Inc. ("Maple Leaf Foods" or "the Company") (TSX: MFI) today reported its financial results for the second quarter ending June 30, 2019.

Quarterly Highlights

• Sales increased by 12.5%, driven by acquisitions, our value-added product portfolio and continued double-digit growth in plant-based protein
• Recorded a net loss of $6.3 million or $0.05 per share due to $60.7 million of non-cash fair value changes on balance sheet items, not reflective of the commercial performance of the Company and excluded from Adjusted EBITDA
• Adjusted EBITDA Margin of 11.3% in meat protein and 10.6% for the Company, driven by strong commercial performance
• Net Debt of $403.4 million, of which...

Dine Brands Global Inc Reports Strong Second Quarter 2019 Results

Dine Brands Global, Inc. (NYSE: DIN), the parent company of Applebee's Neighborhood Grill + Bar® and IHOP® restaurants, today announced financial results for the second quarter of 2019.

“Our strategy continues to drive significant improvements across key metrics. We have made important decisions over the last two years that have improved our fundamentals and enhanced our ability to deliver sustainable growth. We successfully completed a $1.3 billion refinancing of our securitized debt, replacing our 2014 fixed rate senior secured notes. We are also pleased to announce that Applebee’s franchisees agreed to extend the increase in the advertising contribution rate to 4.25% through the end of next year,” said Steve Joyce, Chief Executive Officer of Dine Brands Global, Inc.

Mr. Joyce continued, “Our performance reflects the strength and stability of our highly franchised business model. While comparable same-restaurant sales at Applebee’s were lower than expected, these results are not indicative of...

The Cheesecake Factory to Acquire Fox Restaurant Concepts and Remaining Interest in North Italia

The Cheesecake Factory Incorporated (NASDAQ: CAKE)today announced that it has entered into definitive agreements to acquire Fox Restaurant Concepts (“FRC”) and the remaining interest in North Italia, reinforcing its leadership position in experiential dining.

“Since making our initial minority investments in North Italia and Flower Child in 2016, we have not only helped fuel the growth of both brands, but also developed a deep relationship with Sam Fox at Fox Restaurant Concepts,” said David Overton, Chairman and Chief Executive Officer of The Cheesecake Factory Incorporated. “We realized the true potential of this relationship as we worked through the integration process for our planned acquisition of North Italia. It became evident that the combination of two of the most experiential and entrepreneurial restaurant companies could drive greater value as one organization.”

Overton continued, “In turn, we have decided to bring together North Italia and Fox Restaurant Concepts, including Flower Child, with The Cheesecake Factory to reinforce our leadership position in...

ANALYSIS: Adding a Spring to Turkey’s Summertime Stride

Following what many players would term as a sluggish start to this year’s seasonally anticipated turkey white meat rally, marketers are finally embracing the return of some noteworthy seasonal underpinnings...

Dunkin’ Brands Shares Progress Towards Sustainability Goals

Dunkin’ Brands Group, Inc. (Nasdaq: DNKN), the parent company of Dunkin’ and Baskin-Robbins, has published its 2017-18 Sustainability Report, providing a thorough overview of its sustainability progress and the ongoing commitment of its brands and its franchisees to create a positive impact for both customers and communities throughout the world.

Focusing on the key pillars of the company’s sustainability strategy – sustainable food, restaurants and communities – the report highlights Dunkin’ Brands’ recent efforts to serve both people and the planet responsibly by transitioning from foam packaging, offering...