Walmart Releases Q4 and FY20 Full-Year Earnings
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PODCAST: Coronavirus and Maritime: What's the Deal?
CNBC's Lori Ann LaRocco joins the show to discuss the implications of coronavirus on protein and overall trade. With up to the minute information on international shipments and concellations, you won't want to miss this segment...
Rembrandt Foods Issues Incident Alert Update
On Friday, Rembrandt Foods shared that a cage system collapsed in one of the barns at the Rembrandt Foods Plant in Rembrandt, Iowa. One employee was missing and there was reason to believe that he was in the barn at the time of the incident. Immediate efforts went underway by several local search and rescue teams to find him.
Today, Rembrandt Foods' Sheila Hagen issued the following update...
VIDEO: Poultry Trade Developments; Salmon Tariffs
Amanda Clark Joins Papa John's as Chief Development Officer
Papa John's International, Inc. announced the appointment of Amanda Clark as its Chief Development Officer. Ms. Clark will lead the company’s strategy to continue expanding its restaurant footprint in North America and internationally.
“Amanda is a passionate leader with a proven track record of driving growth at one of the restaurant industry’s biggest success stories over the past 10 years,” said Papa John’s President and CEO Rob Lynch. “I had the pleasure of working with Amanda during my time at both Procter & Gamble and Taco Bell, and...
The National Poultry & Food Distributors Association Awards Two Industry Leaders
The National Poultry & Food Distributors Association (NPFDA) awarded two Industry Leaders during its Awards Reception at Annual Poultry Convention at the Hyatt Regency Atlanta on January 29.
Marci Walker, Corporate Director of Sales of Kelly’s Foods in Winter Garden, Florida was awarded the coveted Member of the Year Award. Pete Martin, the Senior Vice President of New Business Development from Mar-Jac Poultry in Gainesville, Georgia Farms was awarded The NPFDA Lifetime Achievement Award.
Marci Walker joined the NPFDA Board 5 years ago and was named the First female president in 2018. She has remained involved throughout the transition of NPFDA’s new Executive Director and...
January Retail Sales Grew 2.7 Percent Over Last Year
Retail sales in January increased 0.2 percent seasonally adjusted over December and were up 2.7 percent unadjusted year-over-year, the National Retail Federation said.
“The strength of consumer spending continues to be the anchor of the current economic expansion,” NRF Chief Economist Jack Kleinhenz said. “January’s retail sales results reflect a confident consumer supported by solid wage growth and job gains. While the business sector continues to weigh significant uncertainties, consumers are providing staying power for...
Aramark Names Carl Mittleman Chief Operating Officer, International
Aramark has named Carl Mittleman Chief Operating Officer, International succeeding Brent Franks, who leaves Aramark after a successful 7-year tenure. Mittleman, who has been with the Company for 25 years, most recently served as President, Sports & Entertainment. Alison Birdwell, a sports and hospitality industry veteran, has been promoted to President, Sports & Entertainment.
Mittleman joined Aramark as a college intern and held positions of increased responsibility in sales and operations in Aramark Germany, Leisure and Sports & Entertainment. He moved through...
Muscle Maker Grill Announces Pricing of $7.7 Million Initial Public Offering
Muscle Maker, Inc. announced that it priced on February 12, 2020 its initial public offering of 1,540,000 shares of common stock at a price to the public of $5.00 per share. In addition, the Company has granted the underwriter a 45-day option to purchase up to an additional 231,000 shares of common stock at the initial public offering price. The total proceeds paid to the Company in the initial public offering or upon exercise of the underwriter’s option will be reduced by underwriting discounts and commissions and other costs arising in the offering. The shares are expected to begin...
ANALYSIS: An Initial 2020 Chicken Production Assessment
With the first couple weeks of 2020 under the industry’s collective belt, we thought it would be a good opportunity to check in on the slaughter stats...
Technomic Releases Foodservice Technology Program and Consumer Trend Study
Recent research as part of Technomic’s foodservice technology program sheds a light on the fast-paced and evolving influence technology has on consumers’ dining experiences. Brands must balance leveraging technology to foster a greater connection with guests and maintaining their trust in terms of privacy and control over personal data.
“Technology is becoming more ingrained in the foodservice industry and is rapidly evolving,” explains Anne Mills, senior manager of consumer insights at Technomic. “Operators will need to work with their partners to...
VIDEO: Valentine's Day at Foodservice; 2020 Chicken Production Assessment
MGM Resorts Announces New Sustainable Sourcing Goals For Eggs And Chickens
MGM Resorts International announced plans to expand its responsible sourcing program with a set of goals for eggs and chickens.
Under its cage-free & free-range egg and chicken policy, the Company has set a goal to source 100 percent of eggs (shell, liquid, and egg products) from cage-free sources throughout its global portfolio before 2030. In tandem, the Company has also committed to sourcing chickens from...
Tyson Foods Appoints Kevin M. McNamara as Vice Chairman
Kevin M. McNamara, the lead independent director for Tyson Foods, Inc., has been given the additional role of vice chairman of the board, the company announced today.
The appointment means McNamara, who has been a Tyson Foods board member since 2007, will take on additional duties and responsibilities to assist the chairman with board matters, support the executive team on company matters, and focus on key strategic initiatives.
“The board’s appointment of Kevin to vice chairman reflects its commitment to sound governance to sustain the future of our company,” said Chairman John H. Tyson. “We look forward to...
ANALYSIS: Checking In On February’s Turkey Prices
Those in attendance at the National Turkey Federation Meeting this week are sure to be discussing the current state of the market and...
Kraft Heinz Reports Fourth Quarter and Full Year 2019 Results
The Kraft Heinz Company today reported fourth quarter and full year 2019 financial results.
“While our 2019 results were disappointing, we closed the year with performance consistent with our expectations, and driven by factors we anticipated,” said Kraft Heinz CEO Miguel Patricio. "We have taken critical actions over the past six months to re-establish visibility and control over the business. And we remain convinced Kraft Heinz has the potential to achieve best-in-class financial performance as we begin transforming our capabilities and making necessary investments in our brands based on deep consumer insights. Our turnaround will take time, but we expect to make significant progress in 2020, laying a strong foundation for future growth.”
Q4 2019 Financial Summary
Net sales were $6.5 billion, down 5.1 percent versus the year-ago period, including a negative 2.3 percentage point impact from divestitures and...
Alpha Foods Raises $28 Million in Latest Funding Round, Looks to Expand Brand
Alpha Foods, creators of plant-based burritos, nuggets, pizza, pot pies, tamales, burgers and more announced it raised $28 million in its most recent funding round.
The new capital will support new products, additional hires, expanding its distribution channels in the U.S. and around the globe and boost its marketing and sales efforts.
“As more and more people actively seek out plant-based options, whether for their health or the environment, we are looking to expand our innovations within the category and bring...
Foodservice Participates in Valentine’s Day with Tempting Offers
Whether consumers plan to dine out or stay in on Valentine’s Day, another record is expected to be set this year. According to the National Retail Federation, consumers plan to spend an average of $196.31, up 21 percent over last year’s previous record of $161.96. Spending is expected to total $27.4 billion, up 32 percent from the previous year’s record of $20.7 billion. Of that total, $4.3 billion is expected to be spent on an evening out.
Romantics looking to get ahead of the rush to book a reservation at a restaurant for Valentines’ Day should have done so before February 4th. According to data released by OpenTable, majority of diners wait until ten days or less in advance to reserve a table, despite this being...
VIDEO: U.S. Restaurant Transactions Increase Year Over Year; Checking In On February’s Turkey Prices
U.S. Restaurant Customer Transactions Increased in January Compared to Year Ago
Customer transactions at U.S. restaurant chains were up in January, a benefit of milder weather compared to a year ago when extreme weather conditions, including a polar vortex and above average precipitation, hit many areas of the United States.
For the retail weeks ending January 6 through February 2, total restaurant transactions increased by 2% over same time last year and quick service restaurant (QSR) chains were the primary contributor to these gains, according to NPD’s CREST Performance Alerts, which provides...
Carrefour Introduces a Method for Avoiding Male Chicks to Be Culled
As part of its food transition plan, Carrefour and Loué have entered into a partnership to produce and sell eggs laid by chickens produced using a spectrophotometric in-ovo sexing technique. Consumers will be able to purchase the products from 1 May.
This is another step forward for animal welfare, and Carrefour is involving players across the sector in identifying and developing the best in-ovo sexing techniques in France. As soon as a concerted solution that can be industrialized has been identified, Carrefour will commit to...
VIDEO: Retail Imports to Drop; Legal Action Suspended Against SENA
PODCAST: USMCA - What It Means for Protein
This week Michelle Klieger returns to the show to discuss the NAFTA replacement. She discusses the new opportunities for protein exporters and producers in the US as a result of the agreement and of course, China...
US Foods Reports Fourth Quarter and Fiscal Year 2019 Earnings
US Foods Holding Corp. announced results for the fourth quarter and full fiscal year 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 Sept. 13, 2019.
Fourth Quarter Fiscal 2019 Highlights
Secretary Perdue Statement on President Trump’s Budget Proposal
U.S. Secretary of Agriculture Sonny Perdue issued the following statement after President Donald J. Trump submitted his FY 2021 budget proposal to Congress:
“The United States is leading the world in economic growth and prosperity. President Trump’s pro-growth policies like tax cuts, common-sense deregulation, and new trade deals have increased confidence in the economy and put hard earned money back into the pockets of Americans,” said Secretary Perdue. “President Trump’s budget continues to reign in an overgrown Federal government with fiscally responsible cuts in spending. USDA is doing its part to improve our customer service while reducing our economic and regulatory impact. We will continue to...
February Retail Imports to See Larger Drop Amid Coronavirus
With coronavirus causing longer Lunar New Year shutdowns of factories in China, imports at major U.S. retail container ports are expected to see a sharper-than-usual drop this month, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“February is historically a slow month for imports because of Lunar New Year and the lull between retailers’ holiday season and summer, but this is an unusual situation,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Many Chinese factories have already stayed closed longer than usual, and...
Kroger Names Keith G. Dailey Group Vice President of Corporate Affairs
The Kroger Co. today announced Keith G. Dailey, Kroger's vice president of corporate affairs, has been promoted to serve as group vice president of corporate affairs.
"As a key architect of Zero Hunger | Zero Waste, Keith's strategic and inclusive leadership has advanced Kroger's position as a national thought leader and authentic advocate for ending hunger, eliminating waste, and other social impact initiatives," said Rodney McMullen, Kroger's chairman and CEO. "He combines broad public affairs experience with knowledge of Kroger's corporate character and belief that business can be a force for good."
Dailey, 39, has nearly 20 years of public affairs experience, including...
VIDEO: Alternative Proteins; Valentine's Day Retail
Del Taco Restaurants Appoints Tim Hackbardt as Chief Marketing Officer
Del Taco Restaurants, Inc., today announced that Tim Hackbardt has been appointed Chief Marketing Officer.
Mr. Hackbardt is a restaurant industry veteran with over 27 years of experience and has led or advised numerous restaurant chains as a marketing executive and brand consultant across the quick-service, fast-casual, family dining, casual and polished-casual categories. Among these brands are BJ’s Restaurant & Brewhouse, Rubio’s, Pieology, Steak ‘n Shake, Johnny Rockets, and Lucille’s Smokehouse Bar-B-Que. He has a proven track record of driving sales and...
Restaurant Brands International Reports Full Year and Fourth Quarter 2019 Results
Restaurant Brands International Inc. today reported financial results for the full year and fourth quarter ended December 31, 2019.
Jose Cil, Chief Executive Officer of Restaurant Brands International Inc. ("RBI") commented, "We have three iconic restaurant brands that are together growing rapidly around the world. Last year, we shared a long-term aspiration to build the most loved restaurant brands in the world and have more than 40,000 restaurants open within 8-10 years. I'm proud that our 2019 results have us solidly on track."
"Burger King delivered its strongest year of restaurant growth in the last two decades. Popeyes launched an iconic Chicken Sandwich that has proven to be a game changer for the brand in every way. At Tim Hortons, our performance did not...
VIDEO: U.S. Red Meat Exports; American Heart Month and Seafood
Taco Bell Appoints Nikki Lawson As Global Chief Brand Officer
Taco Bell Corp. today announced that it has named Nikki Lawson as Global Chief Brand Officer, responsible for continuing the success of the Taco Bell brand in the US and across the world.
Lawson, former Managing Director, KFC SOPAC (South Pacific), will join the brand effective this April, reporting to Mark King, Chief Executive Officer, Taco Bell Corp. Lawson comes to Taco Bell after nearly 20 years at KFC, having held numerous marketing leadership roles, first in the KFC Africa business, and later in SOPAC, where she served as Chief Marketing & Development Officer and...
Job Report Numbers Show 2020 is Off to a Good Start
Starting the year on a strong note, the US economy added 225,000 jobs in January and the unemployment rate ticked up slightly to 3.6 percent. Today's job report provides more evidence of accelerating employment growth, with the last three months averaging 211,000 new jobs. Stronger employment growth may reflect growing confidence of employers, as some of the geopolitical risks -- such as the US-China trade spat -- subsided in recent months.
Amid stagnant growth in the working-age population, strong employment growth will likely further tighten the labor market in 2020. As a result, we can expect increasing challenges around...
President Trump Announces Intent to Negotiate Trade Agreement with Kenya
President Donald J. Trump today announced the United States intends to initiate trade agreement negotiations with the Republic of Kenya following a meeting at the White House with Kenyan President Uhuru Kenyatta.
“Kenya is a recognized leader across the continent, an important strategic partner of the United States, and there is enormous potential for us to deepen our economic and commercial ties,” said United States Trade Representative Robert Lighthizer. “Under President Trump’s leadership, we look forward to negotiating and concluding...
Sysco Announces Sustainability Bond Framework to Advance 2025 Goals
Sysco Corporation announced today it has designed a Sustainability Bond Framework (the Framework) under which it may issue Green, Social and/or Sustainability Bonds to advance the company’s 2025 corporate social responsibility (CSR) goals.
Sysco’s CSR strategy focuses on three key areas: people, products and planet, setting a clear path for the future and demonstrating the company’s continued commitment to caring for people, sourcing products responsibly and protecting the planet. The company’s 2025 CSR goals, announced in 2018, include a comprehensive set of objectives, including...
World Food Prices Rise in January
World food prices rose for the fourth consecutive month in January.
The FAO Food Price Index averaged 182.5 points during the month, up 0.7 percent from December and 11.3 percent higher than the same month a year earlier.
Vegetable oils, sugar, and wheat were the chief drivers of the index, which tracks monthly changes in the international prices of commonly-traded food commodities.
The FAO Vegetable Oil Price Index increased 7.0 percent for the month, hitting a three-year high as prices for palm, soy, sunflower and rapeseed oils all...
ANALYSIS: A Post-Football Wing Assessment
In the thirty days following Superbowl Sunday, wing values have traditionally glided back down to regular levels...
VIDEO: Cage-Free Production Declines; Chicken Wing Analysis
Yum! Brands Reports Solid Fourth-Quarter Results
Yum! Brands, Inc. today reported results for the fourth-quarter and year ended December 31, 2019. Fourth-quarter GAAP EPS was $1.58, an increase of 51%. Full-year GAAP EPS was $4.14, a decrease of (12)%. Fourth-quarter EPS excluding Special Items was $1.00, an increase of 148%. Full-year EPS excluding Special Items was $3.55, an increase of 12%.
David Gibbs & Chris Turner Comments
David Gibbs, CEO, said “I am proud to announce that we completed our three-year transformation of Yum!, having achieved all of our transformation goals and evolved into a more focused, more franchised and more efficient business. 2019 was a truly historic year for our company. For the full-year, we generated over $50 billion in system sales and ended the year with over...
Yum China Reports Fourth Quarter and Fiscal Year 2019 Results
Yum China Holdings, Inc. today reported unaudited results for the fourth quarter and year ended December 31, 2019. Reported GAAP results include Special Items, which are excluded from adjusted measures. Special Items are not allocated to any segment and therefore only impact reported GAAP results of Yum China. See "Reconciliation of Reported GAAP Results to Adjusted Measures" within this release.
Fourth Quarter Highlights
Dunkin' Brands Reports Fourth Quarter and Fiscal Year 2019 Results
Dunkin' Brands Group, Inc., the parent company of Dunkin' and Baskin-Robbins (BR), today reported results for the fourth quarter and fiscal year ended December 28, 2019.
"Our strong performance in 2019 is indicative of the progress we're making to transform our two beloved brands around the world. All business segments delivered positive comparable store sales growth in the fourth quarter and for the fiscal year, reflecting broad-based momentum across the system," said Dave Hoffmann, Dunkin' Brands Chief Executive Officer. "We had a strong finish to the year, led by Dunkin' U.S. comparable store sales growth of 2.8 percent in the fourth quarter, the...
Tyson Foods Reports First Quarter 2020 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 Quarter Highlights
ANALYSIS: The Seasonal Price Floor of Whole Body Toms
Each year following the International Production and Processing Exposition (IPPE), players get down to business...
VIDEO: ASF Swells Demand for Pork; Whole Turkey Analysis
Performance Food Group Reports Second-Quarter and First-Half Fiscal 2020 Results
Performance Food Group Company today announced its second-quarter and first-half fiscal 2020 business results.
“After a strong start to the year, I am pleased that our business momentum continued into the second quarter. Our results were driven by solid top-line performance and strong EBITDA contribution from both the Vistar and Foodservice segments,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “We are pleased with the broad-based profit contribution across our operating segments and are excited to have closed the Reinhart acquisition as planned. The early integration of Reinhart is proceeding very well, and we remain on track for...
Chipotle Announces Fourth Quarter and Full Year 2019 Results
Chipotle Mexican Grill, Inc. today reported financial results for its fourth quarter and fiscal year ended December 31, 2019.
Fourth quarter highlights, year over year:
President Trump Addresses the State of the Union
Last night, President Trump spoke to the Nation for the third time during the annual State of the Union address. There was an overall tone of patriotism in the Capitol Building, as members of Congress could be heard cheering and chanting "USA," as President Trump discussed what lies ahead for the United States with optimism.
President Trump began with the success of the economy and job growth, stating that the economy is "the best it has ever been." The President discussed the booming amount of jobs and soaring incomes, stating that the administration has created 7 million new jobs, 5 million more than government experts predicted. The unemployment rate has reached its lowest point in...
VIDEO: Plant-Based Meat Poll; Seafood Items Exempt From Tariffs
Wendy's Introduces New Breakfast Menu
Today Wendy's announced that, on March 2, consumers can get their hands on a selection of fresh, craveable, bold new morning options. From fresh, hand-cracked eggs on every sandwich, to savory Applewood smoked bacon, Wendy's breakfast menu brings a fresh twist to familiar flavors and pays homage to Wendy's fan favorites – featuring items like the Breakfast Baconator, Honey Butter Chicken Biscuit and Frosty-ccino.
"People deserve a delicious, affordable and higher quality breakfast than what they're currently getting, so that's exactly what we're going to serve when Wendy's launches breakfast nationally on March 2," said Kurt Kane, President, U.S. and Chief Commercial Officer of The Wendy's Company. "Our crew will be...
Aramark Reports First Quarter Results
Aramark today reported first quarter fiscal 2020 results.
"Our financial performance in the quarter largely materialized as expected and reflects the early actions of our strategies to unlock the economic potential of the business," said John Zillmer, Aramark's Chief Executive Officer. "In just a few short months, we have mobilized strategic leadership changes and targeted investments, as well as realigned resources to more directly support our field organization and clients—all of which creates catalysts to drive future growth in the business."
First Quarter Results
Consolidated Revenue was $4.3 billion in the quarter, down 0.3% year-over-year, primarily due to approximately six weeks of...
Boston Market Names Eric Wyatt as Chief Executive Officer
Boston Market has named Eric Wyatt as Chief Executive Officer as the "rotisserie everything experts" sets forth on a new growth phase. He succeeds Frances Allen, Boston Market's CEO since 2018, who is departing for a new venture.
Having served as the company's Chief Operating Officer, Wyatt will oversee a newly created "Office of CEO" that includes Chief Financial Officer Caryn Doyle and Chief Administrative Officer and General Counsel Randy Miller. Under Allen's leadership, this C-suite team has been instrumental in implementing a multi-faceted transformation plan designed to ensure...
Dunkin' Brands Announces New Vice President Of Marketing Strategy
Dunkin' Brands, the parent company of Dunkin' and Baskin-Robbins, today announced the promotion of Jill McVicar Nelson to Vice President, Marketing Strategy.
In her new position as Vice President, Marketing Strategy, Dunkin' U.S., Nelson will lead a newly reorganized team responsible for brand marketing & planning as well as value and pricing strategies. She will report on an interim basis to Dunkin' Brands CEO Dave Hoffmann. Most recently, Nelson served as Director of Corporate Strategy and Chief of Staff to the CEO.
"We are combining our strategic, go-to-market functions into one team in order to accelerate the growth of Dunkin' U.S. through a more integrated marketing approach, and I am delighted to announce the appointment of...
VIDEO: Food Insecurity; Tilapia Market Analysis
Rabobank: Foodservice 2020 Global Outlook
The global market outlook is for foodservice sales to continue to grow, although some tempering is expected due to macroeconomic uncertainties across most geographies. This report explores the foodservice market in various regions and looks at the four main issues for foodservice executives: the macroeconomic and geopolitical environment, delivery, input costs, and sustainability.
The Foodservice 2020 Global Outlook explores the issues that are top of mind for foodservice executives. The first of these is the uncertain macroeconomic and geopolitical environment. Consumer confidence, a key driver for foodservice, may be under increased pressure in 2020 as economic growth slows down and geopolitical events add uncertainty and an overall...
Food Insecurity Among Children has Declined Overall but Remains High for Some Groups
Food security—access at all times to enough food for an active, healthy life—provides an important foundation for nutrition and health. Food security is especially important for children. The nutritional content of their diets affects not only their current health, but also their physical, mental, and social development—and thus, their future health and well-being. Prior research has shown that children in food-insecure homes, where parents and caregivers struggle to put enough food on the table, are more likely to have adverse outcomes, such as more chronic health conditions, slower progress in math and reading, and more difficulties with social development than do otherwise similar children in...
Papa John’s Launches the Papadia Sandwich
Papa John’s is upgrading guests’ lunch routines with the new Papadia – a toasty, hearty alternative to the same old sandwich routine, for just $6.
“The Papadia is inspired by the ‘piadina,’ an Italian folded flatbread sandwich from Northern Italy. It combines the original Papa John’s crust people crave along with fresh toppings, making it the best of both worlds – it’s both a pizza and a sandwich,” said Paul Fabre, SVP Product Innovation at Papa John’s. “The Papadia is great for people on the go who are looking to mix up their traditional lunch routine.”
The options include...
Sysco Reports Second Quarter Fiscal 2020 Results
Sysco Corporation today announced financial results for its 13-week second fiscal quarter ended December 28, 2019.
Second Quarter Fiscal 2020 Highlights
First Half Fiscal 2020 Highlights
VIDEO: Coronavirus Brings Risks for Foodservice; Movers of the Week
Rabobank: Coronavirus Brings Risks for Foodservice
The coronavirus outbreak will impact foodservice revenues in the short term in China. Singapore, Thailand, and Vietnam are the most vulnerable markets outside of China. Foodservice players could face challenges such as supply disruptions and lack of personnel. Players will also have to consider strategic changes in the way they operate if they want to retain clients and secure long-term growth.
China’s Foodservice Industry Hardest Hit if the Coronavirus Outbreak Drags On
China is bearing the immediate brunt of the Wuhan Coronavirus outbreak, with Wuhan city under lockdown. Chinese consumers in other provinces are also encouraged to avoid public spaces to lower the probability of...
Coronavirus Fears Result in Canceled Flights to China as CDC Raises Travel Advisory to Level 3
On Thursday the World Health Organization convened to discuss the coronavirus outbreak in China and declared a "public health emergency of international concern." More flights to China (or out of China) are getting canceled as fears over the coronavirus rise.
China's National Health Commission confirmed on Friday that, as of midnight of January 30, the total number of confirmed infections of the virus has climbed to 9,692. This number includes 213 deaths. The number of infected climbs to...
Amazon Announces Fourth Quarter Sales Up 21% to $87.4 Billion
Amazon.com, Inc. today announced financial results for its fourth quarter ended December 31, 2019.
Operating cash flow increased 25% to $38.5 billion for the trailing twelve months, compared with $30.7 billion for the trailing twelve months ended December 31, 2018. Free cash flow increased to $25.8 billion for the trailing twelve months, compared with $19.4 billion for the trailing twelve months ended December 31, 2018. Free cash flow less principal repayments of finance leases and financing obligations increased to $16.2 billion for the trailing twelve months, compared with $11.6 billion for the trailing twelve months ended December 31, 2018. Free cash flow less equipment finance...
UNFI Announces 2019 Report on Social and Environmental Responsibility
United Natural Foods, Inc. released its 2019 Corporate Social Responsibility Report. The report, now in its ninth annual edition, reflects a comprehensive summary of the Company's progress on its social and environmental commitments.
"UNFI has a long tradition of doing the right thing – giving back and operating our business in a way that minimizes our environmental footprint. As we grow, we remain committed to being good stewards of our planet, our communities, and our people," said Steven L. Spinner, UNFI Chairman and Chief Executive Officer. "We are particularly concerned about the effects of climate change and are actively working to...
2020 Super Bowl: Consumers to Spend $17.2 Billion
The latest consumer spending data from the National Retail Federation and Prosper Insights & Analytics’ 2020 Super Bowl survey suggests this may be one of the strongest Super Bowls yet, with millions of adults saying they have plans for the big game. Those watching the event expect to spend an average $88.65 on food and beverages, merchandise and party supplies, for a total $17.2 billion nationwide.
A total of 193.8 million adults plan to watch the Super Bowl this Sunday, with those watching expected to spend an average of $7.35 more than last year. Food and beverages are the most popular purchases at...
VIDEO: Protein’s Role in Snacking on the Rise; 2019 Gulf of Mexico Shrimp Landings
Snack Time is All the Time: How Protein Processors are Getting into the Mix
Nearly every American has made “snack time” an essential part of their routine. Admit it, keeping a bag close at hand at your desk or taking a quick stop to the pantry before dinner is a given.
According to Dataessential’s latest Snacking Keynote Report, 96% of consumers had at least one snack yesterday and 97% of foodservice operators have a snackable item on their menus. Snacking is close to a guarantee.
The snacking habit is something that the protein industry is looking to capitalize on...
From the Football Field to Foodservice, These Former NFL Players Now Own Restaurants
While many athletes dedicate their careers to the sport, some find other interests worth pursuing after their time on the field has come to an end. A common post-career passion for athletes is food, which should come as no surprise, since diet plays a vital role in preparation for game day. This interest in food has often led to retired players opening their own restaurants. The trend is seen across all different sports, but it appears football players are the most invested in the food business.
Andy Nelson, who played defensive backfield for the Baltimore Colts during the 1960s, is now known for his famous Maryland BBQ pit. The restaurant is full of football memorabilia and received a certificate of excellence in 2018 from TripAdvisor for...
Dunkin' Brands Announces Appointment of Three International Vice Presidents
Dunkin' Brands, the parent company of Dunkin' and Baskin-Robbins, announced the appointment of three vice presidents to its international team. Rini Ernawati has been promoted to Regional Vice President, Asia Pacific, Caner Gursoy has been promoted to Regional Vice President, Europe, Middle East, Africa and Australia, and Ashish Asthana has joined the company as Vice President of International Marketing. All three vice presidents will report to John Varughese, Senior Vice President, International.
According to Dave Hoffmann, Dunkin' Brands CEO, "We are thrilled to add these three executives with their deep industry and global experience to help lead key growth segments for both Baskin-Robbins and Dunkin'. These appointments are...
VIDEO: Consumer Confidence Increased; Coronavirus Update
China's Coronavirus Could Boost Brazil Meat Exports, CEOs Say
Brazil's largest meatpackers JBS SA and BRF SA said on Wednesday that the coronavirus outbreak could help boost Chinese demand for their products, as it fans concerns about domestic food safety in China.
However, one executive told Reuters that sales could be held back by aggressive demands for discounts from Chinese buyers.
BRF Chief Executive Officer Lorival Luz said on the sidelines of a conference in Sao Paulo that the epidemic could boost sales of foreign frozen and...
Coronavirus Origin in Question as Cases in China Continue to Grow
Did the mysterious pneumonia outbreak really start at South China Seafood City in Wuhan? That's the question as cases of the novel coronavirus in China continue to grow.
The first case of pneumonia was reported in Wuhan, the capital of Central China's Hubei province, in mid-December. Early reports linked the pneumonia cases to South China Seafood City, also known as Huanan Seafood Wholesale Market, due to a number of the initial patients being vendors and dealers who worked at the seafood market. The market was closed on...
President Trump Signs USMCA into Law at White House Ceremony
At a signing ceremony this morning, the United States-Mexico-Canada Agreement replaced the North American Free Trade Agreement. President Trump described the deal as the "largest, fairest, most balanced and modern trade agreement ever achieved." President Trump added that this is a colossal victory not only for farmers and ranchers, but American workers in all 50 states and beyond.
The USMCA is estimated to add 1.2 percent to the Gross Domestic Product and create countless jobs. President Trump said that this will make "Our blue-collar boom, which is beyond anybody's expectation, even bigger, stronger, and...
Avian Flu Spreads to New Province in Poland, According to Poland’s Veterinary Services
The highly pathogenic avian flu virus (HPAI) that has been spreading in Eastern Europe since early 2020 has now reached a new province in Northern Poland, the country’s Chief Veterinary Officer said in a press release on January 27th.
“Outbreak No. 2020/15 was designated on a farm where 23,351 turkeys for fattening were kept, located in the town of Rąbity, in the commune of Zalewo, in the Iławski poviat, in the Warmian-Masurian province” according to the press release.
The HPAI of the H5N8 subtype was first diagnosed on December 30th, 2019 at a poultry farm in Poland in the Eastern Polish province of Lublin, which borders on both Belarus and Ukraine. About 15 cases have been reported in...
Starbucks Reports Q1 Fiscal 2020 Results
Starbucks Corporation today reported financial results for its 13-week fiscal first quarter ended December 29, 2019. GAAP results in fiscal 2020 and fiscal 2019 include items which are excluded from non-GAAP results. Please refer to the reconciliation of GAAP measures to non-GAAP measures at the end of this release for more information.
“Building on solid business momentum from fiscal 2019, Starbucks performed very well throughout the first quarter, including one of the strongest holiday seasons in the history of our company. As a result, we are off to a strong start in fiscal 2020,” said Kevin Johnson, president and ceo. “Our growth was fueled by a healthy balance of comparable sales growth and new store development, as well as...
KFC Beyond Fried Chicken Expands to Two New Markets
Kentucky Fried Chicken and Beyond Meat are announcing an expanded test of Beyond Fried Chicken, plant-based chicken. Beginning February 3, select KFC restaurants in Charlotte, Nashville and surrounding areas, will offer new Beyond Fried Chicken menu items, available through February 23, or while supplies last.
The expanded test comes on the heels of the overwhelmingly successful test launch in Atlanta last summer, making KFC the first national U.S. QSR to introduce plant-based chicken in partnership with Beyond Meat. With customers lining up hours before the restaurant opened and...
McDonald's Reports Fourth Quarter and Full Year 2019 Results
McDonald's Corporation today announced results for the fourth quarter and year ended December 31, 2019.
"2019 marked a year of significant milestones for McDonald's - including surpassing $100 billion in Systemwide sales and achieving our highest global comparable sales growth in over a decade," said McDonald's President and Chief Executive Officer Chris Kempczinski. "Through the execution of our Velocity Growth Plan, we once again served more customers the food they crave, marking three consecutive years of global comparable guest count growth."
Fourth quarter highlights...
Breakfast Remains a Deeply Rooted Institution in the U.S. and Its Future is Bright
Breakfast means breaking a fast and whether consumed at 6 a.m. or 11 a.m., it’s always been an important meal in the U.S. Last year Americans consumed nearly 102 billion breakfasts, with another 50 billion morning snack occasions rounding out the average morning, reports The NPD Group. And, the future of breakfast looks rosy too with forecast growth of breakfast foods that meet consumers’ primary needs of function, convenience, and enjoyment, according to NPD’s recently released Future of Morning study, which illustrates how morning foods are changing today and into the future.
“While breakfast as an institution is deeply rooted, the what, how, and why surrounding our food and beverage choices and...
Consumer Confidence Index Increased in January
The Conference Board Consumer Confidence Index increased in January, following a moderate increase in December. The Index now stands at 131.6 (1985=100), up from 128.2 (an upward revision) in December. The Present Situation Index – based on consumers’ assessment of current business and labor market conditions – increased from 170.5 to 175.3. The Expectations Index – based on consumers’ short-term outlook for income, business and labor market conditions – increased from 100.0 last month to 102.5 this month.
“Consumer confidence increased in January, following a moderate advance in December, driven primarily by a more positive assessment of the current job market and...
VIDEO: Aramark’s 2020 Food Trends; Right Whale Protections
Urner Barry's Weekly Insider's Turkey Hatch Report
McDonald’s Goes Bigger on Breakfast by Adding the McChicken to Its Morning Menu Nationwide
For the first time, customers across the country can wake up to McDonald’s Chicken McGriddles and McChicken Biscuit breakfast sandwiches for a limited time. Available as early as 6am for fans looking to get a jump on their mornings, and always 7 days a week. A staple long-beloved by McDonald’s Southern customers, the two menu additions now give everyone the chance to enjoy McChicken for breakfast.
VIDEO: Super Bowl Chicken Wing Consumption; Live Lobster Market Anxiety
Aramark Chefs Dish on 2020 Food Trends
The start of a new decade brings a time of reflection and positive change, including what will influence the food decisions we make. Aramark, the largest U.S.-based food service company, asked its top chefs to share their thoughts about the top food trends of 2020. These trends are cutting edge, and may not always go mainstream, but they help influence what you’ll find in a grocery store or café near you in the months ahead.
Megatrend #1: Plant-Forward Takes a Giant Leap
As more people focus on their general health and the environment, putting more plants on the plate is a natural way to reduce the amount of meat in a meal. For example...
Letter to Prime Minister: NFU Leads Charge on Trade and Standards Asks Ahead of Brexit
The National Farmers Union has taken the initiative and mobilized a huge coalition of farming, environmental, animal welfare and public health organizations to write a letter to Prime Minister Boris Johnson on trade and standards.
Sent to coincide with the passing of the Withdrawal Agreement Bill which has now had Royal Assent, the letter said:
Dear Prime Minister,
We are writing to you as a broad coalition of major farming, environment, animal welfare and public health organisations who share and support your government’s stated commitment to ensuring the environmental, animal welfare and...
Super Bowl Chicken Wing Consumption Projected to Increase in 2020 as Prices Sit at Attractive Levels
Super Bowl Sunday is right around the corner and football isn’t the only thing that is taking centerstage. Chicken wings will be on millions of tables come Sunday evening.
In all, Americans will chow down on 1.4 BILLION chicken wings during this year’s big game. Sitting only behind pizza as the most popular food item, foodservice and retail stores have been stocking up in preparation for the droves of football fans looking to get their fingers messy with barbecue and hot sauce...
VIDEO: Monthly Cattle on Feed Report; Movers of the Week
Covantis Initiative Announces Lead Technology Partner - ConsenSys
The founding members of the Covantis initiative, which aims to modernize global trade operations, have announced the selection of ConsenSys, a market-leading Ethereum blockchain technology company, as the lead technology partner to develop its transformative platform.
“The founders set up a robust selection process, including a two week hackathon, to ensure that we chose the right technology partner to meet our industry’s needs,” said Stefano Rettore, independent advisor to the project. “ConsenSys presented prototypes that demonstrated excellence in its field and has a track record of using blockchain technology to digitize processes in...
VIDEO: Kroger’s 2020 Food Trend Predictions; Chicken Cold Storage Analysis
ANALYSIS: Chicken Cold Storage: The Year-End Figures Are In
After a great deal of anticipation, chicken market participants and observers finally get a glimpse of the year-end 2019 Cold Storage Report...
Industry Reacts to EPA's WOTUS Rule
The Environmental Protection Agency and the Army fulfilled a promise of President Trump by finalizing the Navigable Waters Protection Rule to define "waters of the United States" (WOTUS). For the first time, the agencies are streamlining the definition so that it includes four simple categories of jurisdictional waters, provides clear exclusions for many water features that traditionally have not been regulated, and defines terms in the regulatory text that have never been defined before.
Sonny Perdue, U.S. Secretary of Agriculture, stated, "President Trump is restoring the rule of law and empowering Americans by removing undue burdens and strangling regulations from the backs of our productive farmers, ranchers, and rural land-owners. The days are gone when the Federal Government can claim a small farm pond on private land as navigable waters." Perdue thanked President Trump and Administrator Wheeler for...
Kroger Shares Fresh Food Trends for 2020
Kroger announced its top food trend predictions for 2020, insightfully curated by its culinary experiences team and product developers, chefs and innovators.
Kroger's Top Five Trends for 2020:
Consumers are increasingly seeking out foods and flavors that bring back fond childhood memories. New foods will continue to be added to grocery shelves that deliver nostalgic flavors in a reimagined way—charming customers of all ages and generations...
Kroger and Ocado to Operate High-Tech Customer Fulfillment Center in Maryland
The Kroger Co. and Ocado announced Frederick, Maryland, as the latest location for a Customer Fulfillment Center (CFC).
"Kroger is incredibly excited to construct one of our industry-leading Customer Fulfillment Centers in Maryland in relationship with Ocado to bring fresh food to our customers faster than ever before," said Robert Clark, Kroger's senior vice president of supply chain, manufacturing and sourcing. "Through our strategic partnership, we are engineering a model for the region, leveraging advanced robotics technology and creative solutions to redefine the customer experience."
Kroger has partnered with Ocado to accelerate its ability to provide customers with anything, anytime, anywhere. The CFC model – an automated warehouse facility with...
ANALYSIS: Turkey Thigh Meat and Boneless Pork Ham Values: Raising the Bar
While turkey thigh meat and boneless pork hams typically trade independently of one another here in the States, upon moving south of the border, these two proteins often...
VIDEO: Monthly Cold Storage Report; Turkey Thigh Meat Analysis
Quaker Steak & Lube Kicks Off 2020 With New Menu
Quaker Steak & Lube is starting the new year with an exciting new all-day menu featuring salad, sandwich, entrée, sauce and dessert options to give guests fresh choices. Most notable on the menu are new steak and seafood options that are woven throughout the menu pages providing a wider variety for guests. Additionally, Quaker Steak & Lube is introducing a new extreme hot sauce. Dubbed "Eat Heat," it is the hottest sauce yet from the brand and requires guests to sign a waiver upon ordering. The menu offers something for everyone, including options for healthier alternatives.
A lightly seasoned, pan-seared salmon headlines Quaker Steak's new menu. Salmon can be ordered as its own entrée or paired as Surf & Turf with flame-grilled chicken or...
Trump Administration Recruits Six New Members as U.S. Food Loss and Waste 2030 Champions
Today, Environmental Protection Agency (EPA) Administrator Andrew Wheeler and U.S. Department of Agriculture (USDA) Secretary Sonny Perdue announced the addition of six new U.S. Food Loss and Waste 2030 Champions. These champions are U.S. businesses and organizations pledging to reduce food loss and waste in their own operations by 50 percent by the year 2030. New champions in 2019 and announced today include: Browns Superstores, Compass Group, Giant Eagle, Hello Fresh, Las Vegas Sands, and The Wendy’s Company.
“Food products make up 22 percent of municipal solid waste sent to our nation’s landfills annually and working with my partners at USDA, we are challenging American businesses and consumers to reduce food waste,” said EPA Administrator Andrew Wheeler. “The commitments made by...
Kroger Promotes New Leaders to the Central and Dillons Divisions
The Kroger Co. announced the retirement of Pam Matthews, president of the Central division, and promotions of Colleen Juergensen—currently president of the Dillions division—to president of the Central division and Steve Dreher—currently vice president of the Dillions division—to president of the Dillions division.
Pam Matthews to Retire After 40 Years of Service
Matthews will retire from the company, effective February 2, after 40 years of service. Most recently, she's led the Central division, which has 134 stores and more than 15,000 associates, primarily throughout Indiana, southern Illinois, and...
VIDEO: Monthly Cattle on Feed Predictions; China Willing to Buy Wild Alaska Pollock
Bojangles’ Names Gary Vaynerchuk to Board of Directors
Bojangles’, Inc. announced today it has added Gary Vaynerchuk, a serial entrepreneur and the CEO and co-founder of VaynerMedia, to its Board of Directors. As a board member, Mr. Vaynerchuk will work alongside senior leadership at the Company to help guide the famous chicken and biscuit chain’s future.
Vaynerchuk is known for establishing one of the first e-commerce wine sites, WineLibrary.com, and helping his father grow the family wine business from $3 million to $60 million in sales in just five years. He now runs VaynerMedia, a full-service digital agency servicing Fortune 500 clients across the company’s four locations.
“With Gary’s extensive experience in building brands and passion for disruptive innovation, he’ll bring a fresh perspective to...
PODCAST: Chicken, China, and Chatting - Matt Busardo Talks Poultry
Matt Busardo joins Laura this week for the very first time representing the UB poultry office. They talk chicken paws, China, select breasts, and more. Be sure to listen in on Soundcloud, Spotify, or Apple Podcasts.
Did you know? Urner Barry's Market Digest Podcast is now available on Spotify, iTunes, Apple Podcast, iHeartRadio, and SoundCloud! More ways to listen to top industry news and analysis.
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