Rabobank Assesses Coronavirus Impact on the Chinese Dairy Sector

The outbreak of coronavirus is disrupting the entire dairy supply chain in China. Although, for now, we have only limited information and anecdotal evidence, Rabobank assesses the impact on the Chinese dairy market because the potential effects on the global dairy commodities market should not be ignored. The situation remains fluid, and Rabobank is monitoring the developments closely.

Disruption to the Entire Supply Chain

While the impact of the epidemic on the demand for dairy should be short term, the uncertainty over the actual duration of the impact and the lingering psychological impact could potentially bring meaningful damage to consumption, which then affects...

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...

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...

Certified Angus Beef Brand Advances Leadership Team

The Certified Angus Beef brand was born of innovation—a spirit that's spurred four decades of bringing families together from gate to plate. To continue supporting this thriving community and network of premium beef partners, the brand recently evolved its leadership team, recognizing several retirements, promotions and new team members.

"We've had a long track record of strong leaders, and that's true as we look to those who have stepped up to guide our next 40 years," says John F. Stika, president. "It takes a dedicated and creative group of people to move this brand forward, and...

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...

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...

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...

Cranswick Acquires White Rose Farms 

Cranswick plc, a leading UK food producer, announces that it has acquired the Buckle family’s pig farming and rearing operations as well as the family’s 50% share of the White Rose Farms Limited pig production joint venture set up by Cranswick and the Buckle family in 2018. The enlarged pig enterprise, to be known as White Rose Farms, specialises in the production of Red Tractor assured pigs in Yorkshire and will continue to be led by Rick Buckle.

Following the acquisition of Packington Pork in December, which specialises in British free range and outdoor pigs, today’stransaction further increases Cranswick’s self-sufficiency in UK pigs processed to over...

NPPC: FDA Stall Tactics Hurting U.S. Agriculture

The U.S. Food and Drug Administration’s (FDA) misrepresentation of a gene edited livestock research project is its latest stall tactic designed to rationalize a regulatory grasp on an emerging technology that must be regulated by the U.S. Department of Agriculture (USDA) if the United States is to maintain its global leadership position in agriculture.

“While countries like China, Canada, Brazil and Argentina are moving quickly on this advancement to gain competitive advantage, the United States is falling far behind because of the FDA’s precautionary regulatory approach,” said NPPC President David Herring, a hog farmer from Lillington, N.C. “Under FDA regulation, gene editing faces an impractical, lengthy and expensive approval process. Unless we move oversight to the USDA, we are ceding a technology that promises significant animal health benefits, including...

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...

Marty Smith of Florida Elected President of National Cattlemen’s Beef Association

Fifth-generation Florida rancher Marty Smith was elected president of the National Cattlemen’s Beef Association (NCBA) at the annual Cattle Industry Convention this afternoon. He replaces Jennifer Houston of Sweetwater, Tenn., 2019 NCBA president.

Smith operates Smith Brothers-Wacahoota, LLC, a cow-calf operation in Central Florida, that has been in continuous operation since 1852. It retains ownership through feedlots in Texas, Kansas and Iowa.

Smith graduated from the University of Georgia with a BSA in Agricultural Economics and Animal Science. While at UGA, he was on the livestock judging team and served as president of Ag Hill Council. He was also active in...

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

• Total case volume increased 12.3%; independent restaurant case volume increased 11.9%
• Total organic case volume increased 0.4%; independent restaurant organic case volume increased 2.9%
• Net sales increased 14.8% to $6.9 billion; organic Net sales increased 3.0% to $6.2 billion
• Gross profit increased 13.3% to $1.2 billion
• Income from continuing operations before income taxes decreased $10 million to...

NPPC Applauds House Passage of Ag Inspectors Bill

The U.S. House of Representatives today approved legislation that authorizes funding for 740 new agricultural inspectors at land, air and sea ports to prevent African swine fever (ASF) and other foreign animal diseases (FAD) from entering the United States. In October 2019, the Senate approved an identical version of the bill (S. 2107), which the House approved today. Providing additional agricultural inspectors represents a top priority for the National Pork Producers Council (NPPC).

“For more than a year, NPPC has advocated for more agricultural inspectors at our borders,” said NPPC President David Herring, a hog farmer from Lillington, N.C. “The U.S. Department of Agriculture and the Bureau of Customs and Border Protection have done much to mitigate risk to animal disease, but we must remain vigilant. Today’s vote represents a tremendous victory for our farmers, consumers and...

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...

Burke Corporation Launches New Plant-Based Alternatives

Burke Corp., a subsidiary of Hormel Foods Corporation, announced the launch of new Burke Alternatives plant-based products available to foodservice operators across the country.

“We know that a growing number of consumers are interested in incorporating more plant-based foods into their diets,” said Amy Thielking, marketing manager at Burke. “These new products are the perfect way to not only add more plant options to meals, but also still enjoy a great-tasting meal with plant-based ingredients.”

Powered by pea protein, Burke Alternatives include a fully cooked crumble and uncooked ground products with...

Tyson Fresh Meats and Jacob Stern & Sons Launch Joint Venture

Tyson Fresh Meats, the beef and pork subsidiary of Tyson Foods, and Jacob Stern & Sons, Inc. have launched a joint venture, JST Global, LLC, to serve the worldwide fats and oils market. Specific terms of the venture are not being disclosed.

Beef and pork by-products of the fresh meats business, along with fats and oils derived from other sources, are key ingredients in thousands of products in such diverse industries as pharmaceuticals, personal care, and animal nutrition, plus the rapidly developing field of renewable fuels.

“Jacob Stern and Tyson Fresh Meats have enjoyed a strong relationship for over 50 years. Combining Tyson’s vast supply of animal fats with Jacob Stern’s Texas operations is...

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...

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...

Family Traditions Meat Company Recalls Ready-to-Eat Meat Stick Products 

Family Traditions Meat Company, an Ackley, Iowa establishment, is recalling approximately 270 pounds of ready-to-eat (RTE) beef stick products due to misbranding and an undeclared allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains milk, a known allergen, which is not declared on the product label.

The fully cooked, ready-to-eat beef stick items were produced on Nov. 14, 2019, Dec. 3, 2019 and Jan. 6, 2020 and have a shelf life of six months. The following product is subject to recall...

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...

NCBA Releases Consumer Research Showing Widespread Confusion About Contents of Plant-Based Fake Meat

The National Cattlemen’s Beef Association (NCBA) today released survey results that show widespread consumer confusion regarding the ingredient composition and purported benefits of plant-based fake meat products.

In an online survey of more than 1,800 consumers, less than half of the respondents understood the labeling term “plant-based beef” was intended to describe an entirely vegetarian or vegan food product. One major source of confusion uncovered by NCBA’s research is that approximately one third of surveyed consumers believed that plant-based fake meat products contained at least some real beef in them. When asked to evaluate specific product labels and marketing materials from some of the leading plant-based fake beef products currently on the market, the results were astonishing...

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...

U.S. Pork Exports Record-Large in 2019, Approaching $7 Billion; Beef Export Value Tops $8 Billion

U.S. pork exports posted new volume and value records in 2019, reaching nearly $7 billion, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). Exports of U.S. beef were below the previous year’s record levels, while lamb export volume was the second largest on record.

Pork exports soared to 282,145 metric tons (mt) in December, up 34% year-over-year and surpassing the previous high (set in November 2019) by 9%. Export value was $760 million, up a remarkable 44% from a year ago and breaking the previous record (also from November 2019) by 7%. These results pushed 2019 exports 10% above...

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

• Total revenues increased 6% year over year to $2.03 billion from $1.91 billion (8% increase excluding foreign currency translation ("F/X")).
• Total system sales grew 8% year over year, with growth of 10% at KFC and 1% at Pizza Hut, excluding F/X.
• Same-store sales grew 2% year over year, with a 3% increase at KFC and flat same-store sales at...

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

• GAAP EPS of $1.52, up 1% from prior year; Adjusted EPS of $1.66, up 5% from prior year
• GAAP operating income of $826 million, up 2% from prior year
• Adjusted operating income of $894 million, up 6% from prior year...

China Xiangtai Food Co. Reports 300% Supermarket Sales Growth Amidst the Novel Coronavirus Outbreak

China Xiangtai Food Co. Ltd., an emerging growth company primarily engaged in pork processing in China, today announced that its supermarket sales growth of 300% during Chinese New Year 2020 compared to the same period of last year despite of the ongoing 2019 Novel Coronavirus.

To meet the public demand for food and to stabilize the pork price in the market, the Company has increased its efforts to ease the negative impact of the 2019 Novel Coronavirus on food supplies by continuing operating its business with transparency and integrity, keeping its pork price fair and stable, and...

Brazil Beef Exports Jump on Strong Chinese Demand

Brazilian beef exports rose by 9.84% in January driven by a surge in sales to China, which faces fallout from a deadly disease that decimated a major portion of its pig population and boosted demand for other meats, trade group Abiec said on Wednesday.

Brazil's beef exports totaled 135,375 tonnes in the first month of the year, generating sales of $633.25 million, Abiec said.

“This is a positive result and in line with our growth estimates for this year," Antônio Camardelli, president of Abiec, said in a statement.

Shipments to China alone were 53,200 tonnes, an increase of...

Greece Reports First Case of African Swine Fever

Greece detected one case of African swine fever at a domestic breeding farm in the north of the country this week, agriculture ministry officials said on Thursday.

African swine fever is harmless to humans but it is highly contagious and deadly in pigs. It has spread from Africa to Europe and Asia and has already killed hundreds of millions of pigs, affecting global meat markets.

The case was found in the northern Greek region of Serres, close to the border with Bulgaria and North Macedonia, the ministry said, adding that...

Certified Angus Beef Brand Launches Steakholder Rewards Loyalty Program

The Certified Angus Beef brand has introduced Steakholder Rewards, a loyalty program that shares beef know-how with consumers, and rewards them for connecting with the brand and purchasing the beef at locations that feature it.

"Steakholder Rewards allows consumers to elevate the experience they have come to expect from the Certified Angus Beef brand, while also growing our conversations with a wider audience base," says Tracey Erickson, the brand's executive vice president of marketing. "It is built on delivering experiences that...

NCBA 2020 Policy Priorities

This morning, the Executive Committee of the National Cattlemen’s Beef Association (NCBA) approved the organization’s top 2020 Policy Priorities. Approval came at the annual Cattle Industry Convention in San Antonio, Texas.

Like last year, NCBA’s top policy priorities include issues related to international trade, proper regulation of fake meat, and regulatory reform, although after a series of significant policy victories in 2019, this year’s priority list is focused on implementing and protecting those gains while further advancing progress into new territory.

For example, after helping secure bilateral trade deals with Japan, China, and the European Union, as well as the ratification of the U.S.-Mexico-Canada Agreement, NCBA’s focus this year will turn to...

African Swine Fever Shrinks Pork Production in China, Swells Demand for Imported Pork

Although the rapid spread of African Swine Fever (ASF) across China decimated the world’s largest swine herd in 2019, it has created significant export opportunities for the U.S. pork industry. In the United States, recent industry expansion and low prices helped the industry export more pork to China, despite high retaliatory tariffs on U.S. pork.

After the first cases of ASF in China were reported in August 2018, the virus spread to every province by mid-2019. Assessments by industry observers suggest that the number of ASF outbreaks and losses of swine far exceeded officially reported numbers. As mentioned earlier, China’s swine herd was decimated—both by...

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:

• Revenue increased 17.6% to $1.4 billion
• Comparable restaurant sales increased 13.4% with no net impact from loyalty deferral, and included 8.0% comparable restaurant transactions growth
• Digital sales grew 78.3% and accounted for 19.6% of sales
• Restaurant level operating margin was 19.2%, an increase of...

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...

Cargill Conducts Voluntary Recall of a Single Lot of NutreBeef Transition Pellet 

Cargill’s animal nutrition business is conducting a voluntary recall of a single lot (382 bags, 50 lb each) of NutreBeef Transition Pellet (MH) beef cattle feed because the product may contain mispackaged feed with elevated levels of monensin. The affected product was sold in Kansas and Texas. At elevated levels, monensin can be toxic to cattle and can cause colic-like symptoms, hypokalemia (low potassium), myoglobinuria (breakdown of muscle in the urine), chronic cardiovascular issues, and possible death.

The following affected product was manufactured at Cargill’s McPherson, KS, facility and is being recalled from...

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...

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...

CHART: Industry Expectations for Weekly Cattle Slaughter 

Ranchers Urge Congress to Oppose Voluntary Grazing Permit Retirement Act

The National Cattlemen’s Beef Association (NCBA) and Public Lands Council (PLC) announced opposition to H.R. 5737, the Voluntary Grazing Permit Retirement Act, introduced yesterday by Rep. Adam Smith (D-WA). The bill would require federal land management agencies to permanently end livestock grazing on any allotments where the current permittee has accepted a payout in exchange for relinquishment of their term grazing permit.

“Grazing is an essential and irreplaceable tool for federal land managers,” said fifth-generation Oregon rancher and PLC President Bob Skinner. “Depriving them of this tool—the oldest of the multiple-uses—in order to...

Statement by Smithfield Foods Regarding North Carolina Lawsuit Appeal

A panel of the United States Court of Appeals for the Fourth Circuit, comprised of Judge G. Steven Agee, Judge Stephanie D. Thacker and Judge J. Harvie Wilkinson III, heard oral argument in the company’s appeal of the first of a series of trials in the North Carolina hog farm nuisance litigation. These lawsuits threaten animal agriculture, rural North Carolina’s economy and the thousands of hard-working farmers who own and operate family farms in full compliance with federal, state and local regulations.

“This suit is the tip of a spear aimed at North Carolina’s agricultural economy,” the company’s appeal brief says. “…A great deal depends on the outcome of these...

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

• Sales increased 1.8% to $15.0 billion
• Gross profit increased 2.0% to $2.8 billion; gross margin increased 5 basis points
• Operating income increased 22.3% to $552.5 million; adjusted operating income increased 3.9% to $626.9 million
• EPS increased $0.23 to $0.74; adjusted EPS increased $0.10 to $0.85

First Half Fiscal 2020 Highlights

• Sales increased 1.2% to $30.3 billion
• Gross profit increased...

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...

Carl’s Jr. and Hardee’s Offer Free Beyond Meat Menu Items the Monday After Sunday’s Big Game

Carl’s Jr. and Hardee’s are encouraging Americans who overindulged during Sunday’s Big Game to recover with a plant-based Monday by enjoying an item from the all-day Beyond Meat menu. Monday, February 3, recovering Americans can use the phrase “Beyond the Game” to unlock one free Beyond Meat menu item with the purchase of any large drink, including soft drinks, coffee and cold brew, at participating locations.

The day after Sunday’s Big Game is notoriously the most skipped workday in America, with an estimated 17.2 million Americans missing work. Knowing the woes of adulting on one of the worst Mondays of the year, Carl’s Jr. and Hardee’s are...

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...

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...

Astrochef LLC. Recalls Pepperoni Stuffed Pizza Sandwich Products

Astrochef LLC., a Rockwall, Texas establishment, is recalling approximately 7,363 pounds of pepperoni stuffed pizza sandwich products because the product is mislabeled and contains undeclared soy, a known allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The products are labeled as pepperoni stuffed pizza sandwich products but may contain meatball stuffed pizza sandwich products inside the package.

The frozen, stuffed pepperoni pizza sandwich items were produced on June 4, 2019 and July 3, 2019. The following products are subject to recall...

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...

Rabobank Talks Alternative Protein Surprises

Rabobank kicks off the first note of the decade by sharing some of the main highlights from their annual ‘We Didn’t See That Coming’ survey of food trends. At the end of every year, for the past five years, Rabobank has asked in confidence the simple but highly revealing question: “In the world of food, what surprised you the most over the last twelve months?”

The main surprise can be summed up as the ‘the rapid growth and consumer acceptance of alternative proteins.’ For ease of digestion Rabobank has broken it into four sections...

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...

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...

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...

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...

CHART: Industry Expectations for Weekly Cattle Slaughter

Denny's Expands Partnership with Beyond Meat and Launches Popular Plant-Based Beyond Burger

After the overwhelmingly successful Beyond Burger launch exclusively in Los Angeles restaurants, Denny's will now offer the popular plant-based burger made by Beyond Meat in more than 1,700 locations across the U.S. and Canada. To celebrate this milestone, Denny's is offering a free Beyond Burger with the purchase of any beverage at all participating locations on January 30 from 11am to 10pm, while supplies last.

The newest addition to Denny's core menu, the Denny's Beyond Burger features...

Amity Packing Company Recalls Raw Ground Beef Products

Amity Packing Company Inc., a Chicago, Ill. establishment, is recalling approximately 2,020 pounds of raw ground beef products that may be contaminated with extraneous materials, specifically clear, thin pliable plastic, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today.

The raw ground beef items were produced on Jan. 6, 2020. The following products are subject to recall...

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...

China's Ministry of Commerce Guarantees Sufficient Pork Supply Ahead of New Year Celebrations

On January 25, 2020, China will celebrate the Lunar New Year. As the most important traditional festival for China, the celebration is dependent on preparations including increasing availability of various meats, organic vegetables, and imported fruits. After an outbreak of African swine fever decimated the Chinese hog herd, China has been gearing up for the holiday by releasing pork from state reserves and increasing imports of the most desired meat in the country.

According to an Urner Barry pork analysis, export demand reached record levels in November in anticipation of the Lunar New Year Holiday. In early November, the resumption of exports from Canada and China was announced, creating more tightness in the United States' domestic market as Canada shifted their exports from the U.S. and Mexico to China. By December, China's pork imports surged...

Research and Markets' 2020 Study on China's Pork Import Market

According to Research and Markets' latest report on China's pork import market, China's annual pork consumption is around 55 million tons, and is growing slowly in recent years.

In 2018, the pork imports were less than 3% of the pork consumption. Rising pig breeding costs and stricter environmental policies have forced many small and medium-sized pig farms to close down, and swine fever occurs frequently. These factors discourage the growth of pork output in China.

It is expected that from 2020 to 2024, the import volume of pork and pig offal in China will continue to rise, and China's pork market will receive attention from...

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...

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...