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August U.S. Retail Spending Results Reflect Easing Inflation
Declining prices contribute to slowing growth in food and beverage spending, and back-to-school shopping remains tardy
In August 2023, U.S. retail sales revenue, including both discretionary general merchandise and consumer packaged goods (CPG), remained unchanged compared to the same month last year, and unit sales declined 2%. Discretionary general merchandise spending declines continued with a 5% decline in dollar sales and 7% drop in unit sales compared to last August. CPG spending gains slowed slightly from last month, with 3% growth in food and beverage, a 2% increase in...
United States Online Food Delivery Market Analysis, Size, & Forecast Report 2023
Market Set to Grow by Almost $50 Billion - Growing Integration of AI and Machine Learning Gaining Momentum
The "United States Online Food Delivery Market, Size, Forecast 2023-2030, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.
The United States Online Food Delivery market is anticipated to reach US$ 84.84 Billion in 2030 US$35.36 Billion in 2022, growing at a CAGR of 11.6%
With a wide range of food options from multiple restaurants available at their fingertips, online...
Outstanding First Half for U.S. Pork Exports; Beef Exports Below Record Pace of 2022
U.S. pork exports concluded an excellent first half with another strong performance in June, according to data released by USDA and compiled by the U.S. Meat Export Federation (USMEF). While well below the record pace established in 2022, June beef exports topped $900 million in value, pushing first-half export value to nearly $5 billion.
June pork exports totaled 245,964 metric tons (mt), up 12% from a year ago, while export value climbed 6% to $691.4 million. Through the...
Imports Building Toward August Peak as One Labor Dispute Ends But Others Develop
Import cargo volume at the nation’s major container ports is expected to climb toward an August peak this summer, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates. But even though a tentative contract agreement has been reached at West Coast ports, retailers are closely following labor disputes at ports in western Canada and a potential Teamsters strike against United Parcel Service.
“We were relieved that labor and management at West Coast ports reached a tentative agreement last month...
Consumer Foodservice Spend Returns to Pre-COVID Levels Across Europe
Circana, the leading advisor on consumer complexity that formerly traded as IRI and The NPD Group, today launched its latest results from its CREST service analysis, revealing continued recovery for the European foodservice sector as consumers across five markets return to bars, restaurants and other foodservice establishments. Total spend for the sector is now back to pre-pandemic levels (€308 Bn in 12 months ending May 2023).
Spain is the first country to show spend growth to pre-pandemic...
Outdoor Dining Sees 19% Boost in Early June vs. 2022, According to New OpenTable Data
Summer is here and with it, increased demand for al fresco dining: OpenTable data reveals outdoor dining increased 20% in May and 19% in the first half of June (June 1 – 15), compared to 2022.1
To help diners discover a new favorite patio or rooftop, OpenTable is releasing its annual list of 100 Most Popular Restaurants for Outdoor Dining in America,2 created by analyzing over 13 million OpenTable diner reviews. While the list debuts with the summer season, OpenTable data shows diners embraced outdoor...
Adoption of AI Will Drive $113 Billion In Value for Grocers by 2025
Grocery Doppio, an independent source of grocery insights and data designed by Incisiv and Wynshop to help grocers jumpstart, accelerate, and sustain digital growth, today unveiled "The Impact of AI in Grocery," the debut report of a strategic new research partnership with FMI—The Food Industry Association. The report is a part of a multi-year program of quarterly insights and community engagement to help grocers navigate new technologies and meet evolving shopper expectations.
The Impact of AI in GroceryThe first report in the research...
Tyson Foods Shares Shed Nearly 16% Following Q2 Loss
U.S. stocks closed mixed on Monday and are lower so far Tuesday as traders continue to digest the recent developments from major corporations including Tyson Foods and S&P 500 company Catalent, Inc.
The Dow Jones Industrial Average closed 0.2% lower yesterday while the S&P 500 was fractionally higher. The Nasdaq Composite gained 0.08% on Monday but has since turned weaker in early trading action Tuesday. The indices rounded out last week with gains following the latest U.S. jobs data, which showed 253,000 jobs added in April.
Shares of Catalent, Inc. lost over...
Wingstop Inc. Reports Fiscal Quarter 2023 Fiancial Results
Wingstop Inc. today announced financial results for the fiscal first quarter ended April 1, 2023.
Highlights for the fiscal first quarter 2023 compared to the fiscal first quarter 2022:
Dine Brands Global, Inc. Reports Q1 Same Store Sales and Profit Growth
Dine Brands Global, Inc. ,the parent company of Applebee’s Neighborhood Grill & Bar, IHOP and Fuzzy’s Taco Shop restaurants, today announced financial results for the first quarter of fiscal 2023.
“Dine Brands has demonstrated resiliency in a challenging operating environment, which reflects the strength of our brands and strong execution,” said John Peyton, chief executive officer, Dine Brands Global. “Looking ahead, we will adapt with agility and a guest-first mindset. Dine remains committed to investing in growth, generating cash and creating value for our shareholders.”
Vance Chang, chief...
The Chefs’ Warehouse Reports First Quarter 2023 Financial Results
The Chefs’ Warehouse, Inc., a premier distributor of specialty food products in the United States, Middle East, and Canada, today reported financial results for its first quarter ended March 31, 2023.
Financial highlights for the first quarter of 2023:
ANALYSIS: Chicken Hatch: Short-Term Drain, Long-Term Gain?
Analysis: UK Beef Prices Hold Firm Amid Tight Cattle Market
Urner Barry's Fall 2023 Reporter Issue Released; Read It Online For Free Now
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ANALYSIS: Flank Steaks – Record Rise, Record Fall