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United Natural Foods Inc Reports Third Quarter Fiscal 2019 Results

United Natural Foods, Inc. (NYSE: UNFI) (the "Company" or "UNFI") today reported financial results for the third quarter of fiscal 2019 ended April 27, 2019.

Third Quarter Fiscal 2019 Highlights

  • Net Sales Increased to $5.96 Billion, Including $3.24 Billion from SUPERVALU
  • Earnings Per Diluted Share (EPS) of $1.12; Adjusted EPS of $0.61
  • Integration of SUPERVALU Progressing; UNFI Now Operating As One Company with A National Leadership Team and Structure

"Our transformational journey continues, and I'm proud of what our team has accomplished this quarter," said Steven L. Spinner, Chairman and Chief Executive Officer. "I am excited about our next chapter and the acceleration of value creation we expect to...

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Jun 6 8:57 AM, General News



SpartanNash Appoints New President of Food Distribution

SpartanNash (Nasdaq: SPTN) announced today that Mr. Walt Lentz has joined the company as Executive Vice President and President, Food Distribution, effective May 31, 2019. Mr. Lentz has 32 years of logistics and supply chain experience in roles of increasing leadership responsibility, including serving from 2017 to 2019 as Acting Chief Executive Officer and Chief Supply Chain Officer of Peapod LLC, the grocery eCommerce business division of Ahold Delhaize.

As President of Food Distribution, Mr. Lentz will have full responsibility of SpartanNash’s $4 billion food distribution segment and responsibility for the total company supply chain. He will work with the SpartanNash team in developing and executing strategic plans to grow the wholesale distribution and food manufacturing businesses’ profitability. Mr. Lentz will report to SpartanNash’s President and Chief Executive Officer, David M. Staples...

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Jun 3 3:23 PM, General News


Beyond Meat Partners with Zandbergen to Launch Production in Europe

Beyond Meat announced a partnership with Zandbergen World's Finest Meats to produce its plant-based meats at a facility in Europe. The companies expect the facility to be up and running by 2020.

This will mark the first time Beyond Meat will hold production outside of the United States. The new space will allow Beyond Meat to quickly distribute their products to Europe while shrinking their transportation footprint. 

“The consumer response in Europe has been very positive and we look forward to being able to better serve those customers..."

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May 28 10:12 AM, General News


SpartanNash Announces First Quarter 2019 Financial Results

SpartanNash Company (the "Company") (Nasdaq: SPTN) today reported financial results for the 16-week first quarter ended April 20, 2019.

"We are pleased with our team's efforts to grow net sales across all three business segments, particularly in light of the challenging operating environment," said David Staples, President and Chief Executive Officer. "While we are not satisfied with our bottom-line results for the quarter, our team remains committed to our fiscal 2019 objectives and long-term strategy, which we believe will support both future growth and profitability long-term."

Strategic Business Objectives

As outlined in its fourth quarter earnings release, the Company has defined its top five objectives for 2019. These objectives remain critical in the context of the Company's long-term strategic objective to evolve into a company with a national, highly efficient distribution platform servicing a diverse customer base through...

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May 21 8:56 AM, General News


US Foods Reports First Quarter Fiscal 2019 Earnings 

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

First Quarter Fiscal 2019 Highlights

  • Total case volume increased 1.4%; independent restaurant case volume increased 5.5%
  • Net sales increased 3.6% to $6.0 billion
  • Gross profit increased 6.0% to $1,052 million
  • Income before income taxes increased $28 million to $91 million
  • Net income increased $4 million to $71 million
  • Adjusted EBITDA increased 3.6% to...
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May 7 11:54 AM, General News


Sysco Reports Third Quarter Fiscal 2019 Results

Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week third fiscal quarter ended March 30, 2019.

Third Quarter Fiscal 2019 Highlights

  • Sales increased 2.2% to $14.7 billion
  • Gross profit increased 2.9% to $2.8 billion; gross margin increased 14 basis points
  • Operating income increased 9.8% to $529.6 million; adjusted¹ operating income increased 16.6% to $620.2 million
  • EPS increased $0.22 to $0.85; adjusted¹ EPS increased $0.12 to $0.79...
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May 6 11:32 AM, General News


Cargill Reports Fiscal 2019 Third-Quarter Results

Cargill today reported results for the fiscal 2019 third quarter and first nine months ended Feb. 28, 2019. Key measures include:

  • Adjusted operating earnings were $604 million, up 8 percent from the $559 million earned last year. This brought earnings for the first nine months to $2.34 billion, a 2 percent decrease from the prior year.
  • Net earnings on a U.S. GAAP basis for the quarter were $566 million, a 14 percent increase from $495 million in the year-ago period. For the nine-month period, net earnings declined 3 percent to $2.33 billion.
  • Third-quarter revenues decreased 4 percent to ...
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Mar 28 11:40 AM, General News


United Natural Foods, Inc. Reports Second Quarter Fiscal 2019 Results

United Natural Foods, Inc. (NYSE: UNFI) (the "Company" or "UNFI") today reported financial results for the second quarter of fiscal 2019 ended January 26, 2019.

Second Quarter Fiscal 2019 Highlights

  • Net Sales Increased To $6.15 Billion, Including $3.47 Billion From SUPERVALU
  • Legacy UNFI Sales Increased 5.8%
  • Results Include $370.9 Million Non-Cash Goodwill Impairment Charge

"I'm pleased by the tremendous work and meaningful progress our team accomplished this quarter on the integration of ...

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Mar 6 8:20 AM, General News


Sysco Announces Multi-Site Solar Gardens in Texas Are Operational

The renewable energy sites will support approximately 10 percent of Sysco’s U.S. electricity usage

Sysco Corporation (NYSE:SYY), the leading global foodservice distribution company, announced today that the Company’s solar garden sites in the Houston and Dallas areas are fully-constructed and operational. The three sites, named collectively “Sysco Power Patch” through an employee naming competition, are part of a 25 megawatt, ten-year renewable energy agreement with a subsidiary of NRG Energy, Inc. The project will support the majority of Sysco’s electricity load in Texas, including its Corporate Headquarters.

The “Sysco Power Patch” sites took six months to build and created 190 jobs during the peak of construction in 2018. The project sites are on 224 total acres and feature 201,792 solar panels. The sites will support approximately 10 percent of Sysco’s U.S. electricity usage, achieving half of the Company’s 2025 Responsibility Goal of 20 percent renewable energy by ...

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Feb 26 8:38 AM, General News


Olymel Announces the Closing of its Vanier Plant in Quebec City 

Olymel L.P. is Canada's leader in the production, processing,  and distribution of pork and poultry meats. The company employs over 13,000 people and has production and processing facilities in Quebec, Alberta, New Brunswick, and Saskatchewan. Today, the management of Olymel L.P. is announcing its decision to cease operations at its Vanier plant in Quebec City. The decision will come into effect on May 10, according to the provisions of the Act respecting labour standards. Olymel is also announcing that the Vanier plant's activities, such as the production of cretons, bologna, pepperoni, and spaghetti sauce will now be carried out at its Blainville plant, north of Montreal, which will require an additional investment of $2 million and create 30 jobs.

President and CEO of Olymel, Réjean Nadeau, stated “Olymel's management made the difficult decision to close the Vanier plant in the general interest of ...

 

 

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Feb 22 8:12 AM, Urner Barry


Hormel Foods Reports First Quarter Results And Reaffirms Fiscal 2019 Guidance

Hormel Foods Corporation (NYSE: HRL), a leading global branded food company, today reported results for the first quarter of fiscal 2019. All comparisons are to the first quarter of fiscal 2018 unless otherwise noted.

Executive Summary

  • Fiscal 2019 earnings guidance reaffirmed at $1.77 to $1.91 per share
  • Volume of 1.2 billion lbs., up 1%
  • Net sales of $2.4 billion, up 1%
  • Pre-tax earnings of $307 million, up 1%
  • Diluted earnings per share of $0.44, down $0.12 per share due to the impact of tax reform in 2018
  • Effective tax rate of 21.3% compared to 0.6% last year ...
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Feb 21 12:38 PM, General News


Sysco’s Cutting Edge Solutions Announces Additional Product Offerings

Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, announced today the launch of seven new products available exclusively for customers through its Cutting Edge Solutions platform.

Designed to enable our customers to succeed by differentiating themselves in an evolving and competitive business environment, Cutting Edge Solution products are sourced from leading and up-and-coming suppliers and assist customers with refreshing their menus, driving increased traffic and streamlining back-of-house operations. Since its inception in October 2015, Cutting Edge Solutions has delivered over one million cases of new, on-trend, innovative product offerings to customers.

“These latest additions to our Cutting Edge Solutions platform demonstrate our commitment to being our customers’ most valued and trusted business partner by showcasing exclusive product offerings featuring the latest on-trend flavors, labor-saving innovations and versatile product solutions,” said Brian Todd, senior vice president of merchandising, Sysco.

The Sysco Brand Cutting Edge Solutions launching nationwide this month include ...

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Feb 18 8:47 AM, General News


Applegate Bets The Farm On Regenerative Agriculture – Launches The New Food Collective

Premium Pork Sausages First to be Certified by the American Grassfed Association

Applegate Farms, LLC., the nation’s leading natural and organic meat company, announces THE NEW FOOD COLLECTIVE™, a new premium brand that uses pasture-raised meats and small-batch production methods to create culinary-inspired products. The launch will feature a line of fresh sausages that is the first pork to be certified by the American Grassfed Association (AGA).

The AGA standard mandates that hogs have maximum access to the outdoors, allowing them to forage and roam in woods and pasture and that, during the grazing season, they gather most of their food outside. It also requires farmers to develop a pasture-management plan to support biological diversity, natural resources and ...

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Feb 12 12:43 PM, General News


UNFI Announces Plans to Optimize Pacific Northwest Distribution Center Network

UNFI (NYSE: UNFI) today announced plans to optimize its distribution center network in the Pacific Northwest. This plan includes building a new facility and expanding another to enhance customer product offerings, create more efficient inventory management, streamline operations and incorporate best in class technology to deliver a better customer experience. The optimization of the Pacific Northwest distribution network will also help deliver meaningful synergies contemplated in the acquisition of SUPERVALU in October 2018.

The company has entered into a long-term lease agreement with a developer in Centralia to construct a 1.2 million square-foot distribution center exclusively for UNFI on approximately 77 acres at 4002 Galvin Road in Centralia, Washington. The Centralia distribution center is located in close proximity to two existing UNFI DCs in Tacoma and Portland ...

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Feb 8 11:57 AM, General News


Performance Food Group Company Reports Second-Quarter and First-Half Fiscal 2019 Results

Performance Food Group Company  today announced its second-quarter and first-half fiscal 2019 business results.

“Our second quarter results were strong driven by Vistar’s robust top-line results,” said George Holm, PFG’s Chairman, President & Chief Executive Officer. “Vistar is having an outstanding year and grew its EBITDA by over 30% in the second quarter. We are also pleased to have experienced sequential improvement in our Foodservice segment as our strategic investments continue to be on track to support our long-term growth objectives. We are on track for another year of strong growth across our Company...

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Feb 7 9:58 AM, General News


Sysco Reports Second Quarter Fiscal 2019 Results

The Company delivered results in line with expectations

Sysco Corporation (NYSE: SYY) today announced financial results for its 13-week second fiscal quarter ended December 29, 2018.

Second Quarter Fiscal 2019 Highlights

  • Sales increased 2.5% to $14.8 billion
  • Gross profit increased 2.7% to $2.8 billion; gross margin increased 4 basis points
  • Operating income decreased 14.5% to $451.9 million; adjusted¹ operating income increased 4.8% to $603.3 million
  • EPS decreased $0.03 to $0.51; adjusted¹ EPS decreased $0.03 to $0.75

First Half Fiscal 2019 Highlights

  • Sales increased 3.2% to $30.0 billion ...
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Feb 4 8:59 AM, General News


Sysco to Acquire Waugh Foods, Inc.

Sysco Corporation, the leading global foodservice distribution company, today announced it has entered into a definitive agreement to acquire Waugh Foods, Inc., a leading Illinois broadline distributor with approximately $40 million in annual sales.

Waugh Foods Inc., headquartered in East Peoria, Ill. has been in business for 70 years. Joseph A. Waugh, Sr. founded Waugh Frozen Food Company in 1948, and in 1966, after additions to the company’s product lines, the name was changed to Waugh Foods, Inc. Today, the company provides a wide variety of products to customers throughout Central Illinois.

“Waugh Foods has a long, rich history in the Central Illinois area, which includes strong relationships with local independent operators,” said Greg Bertrand, executive vice president, U.S. foodservice operations. “We are excited to... 

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Jan 29 8:59 AM, General News


Cargill Invests Digital Engineering to Support Hyperledger Grid 

In a nod to its open-first technology principle to help address the world’s most significant food challenges, Cargill is investing its own digital engineering to aid the success and adoption of Hyperledger Grid. The latest project in Hyperledger’s portfolio of open-source frameworks and tools, Hyperledger Grid is created to accelerate development of blockchain and other digital solutions for the global food and agriculture supply chains.

“Hyperledger Grid is another way to help make food and agricultural supply chains more inclusive – creating new markets for farmers and developing economies,” said Keith Narr, vice president, Cargill Digital Labs. “With our wide set of food and agricultural supply chain data, Cargill is leading the industry to work together and improve traceability, trade, food safety, nutrition, farmer livelihoods and ...

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Jan 24 2:09 PM, General News


U.S. Realizes Double-Digit Growth in Case Shipments of Plant-Based Proteins to Foodservice Operators

Case shipments of plant-based protein from broadline foodservice distributors to foodservice operators increased by 20 percent in the year ending November 2018 compared to year ago with all Census regions showing double-digit growth, reports The NPD Group. The West Census Region represents the most plant-based protein volume and case shipment growth followed closely by the South Census region, according to NPD’s SupplyTrack®.

About a quarter of the U.S. population, many of whom aren’t vegan or vegetarian, say that they eat and drink plant-based beverages and foods as well as animal protein on a regular basis. Among the reasons why plant-based proteins have ...

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Jan 24 11:33 AM, General News


Reinvented Truck Driver Orientation Helps Add New Hires to Walmart’s Fleet

With more than 1,400 new Walmart truck drivers added in 2018, hundreds more are slated to join the fleet in 2019.

Assessments, mentorship and a faster hiring process are all a part of new onboarding events that are filling critical new jobs created by Walmart’s business growth during an industry-wide shortage.

The revamped orientation initiatives have already cut in half the time between a candidate’s initial interview and a mandatory driving assessment, expediting the time it takes to complete a new hire.

“These hiring events are both improving the skill level of our candidates and enriching their onboarding experience,” said Lori Furnell, Walmart’s director of ...

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Jan 24 9:05 AM, General News


Smithfield Foods Opens New North Carolina Distribution Center

Smithfield Foods, Inc. is pleased to announce the grand opening of its new distribution center in Tar Heel, North Carolina, which will create approximately 250 new jobs in the state. Smithfield invested more than $100 million into the over 500,000-square foot facility, about the size of eight football fields, and its blast cell cold storage capabilities at its processing facility, which will strengthen the company’s supply chain to better serve customers globally.

“We are experiencing an exciting time of growth and this new distribution center will help us continue to optimize our footprint,” said Kenneth M. Sullivan, president and chief executive officer for Smithfield Foods. “More than 10,000 Smithfield Family members already call North Carolina home, and ...

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Dec 14 2:44 PM, General News


United Natural Foods, Inc. Reports First Quarter Fiscal 2019 Results

Net Sales Increased 16.7% to $2.87 Billion
Provides Fiscal 2019 Guidance Inclusive of SUPERVALU

United Natural Foods, Inc. (Nasdaq: UNFI) (the "Company" or "UNFI") today reported financial results for the first quarter of fiscal 2019 ended October 27, 2018.

"We closed on the previously announced purchase of SUPERVALU which will accelerate UNFI's transformation of food distribution throughout North America," said Steven L. Spinner, Chairman and Chief Executive Officer. "The integration of the two companies is well underway and we continue to be excited about the long-term creation of value for our shareholders we expect to deliver with this combination."

First Quarter Fiscal 2019 Summary

Gross margin for the first quarter of fiscal 2019 was 14.38% of net sales and included a $1.8 million, or 0.06% of net sales, inventory fair value adjustment charge related to the acquisition of SUPERVALU. When adjusted for this charge ...

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Dec 10 9:20 AM, General News


Stampede Meat Newly Renovated Facility Opens

Stampede Meat celebrates the grand opening of its New Mexico plant after a $36 million investment 

The newly renovated facility will drive immediate growth for Stampede and create 1,295 new jobs

Stampede Meat, Inc., announced its grand opening today at a ribbon cutting ceremony, just five short months after announcing the company's expansion outisde of Illinois for the first time in its 24-year history. Stampede will invest more than $36 million to renovate and reopen the former Tyson Foods facility in Sunland Park, New Mexico. Over the next year, the facility will increase Stampede's existing 285,000 square footage and 190 million-pound capacity by more than half. Once fully utilized, the facility will support $300 to 400 million in incremental top line growth.

Stampede Meat CEO and President Brock Furlong was joined by New Mexico Economic Development Department Cabinet Secretary Matt Geisel at the ceremony. "We are poised to have our single largest sales growth in our 24-year history, due in no small part to this critical investment ...

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Dec 7 3:30 PM, Urner Barry


Smithfield Foods Announces Nearly $45 Million Investment in Sioux Falls Operations

Smithfield Foods, Inc. is investing nearly $45 million and adding 70 new jobs to its Sioux Falls, South Dakota, operations. The investment includes renovating a high-speed bacon line, a ground seasoned pork operation, and the distribution center, as well as the rebuilding of a facility that houses more than 8,000 hogs. This investment and expansion will help Smithfield meet the increasing domestic demand for bacon and international demand for ground seasoned pork, a growing category in export markets.

“At Smithfield, we’re committed to our continual investment in our facilities and farms in Sioux Falls,” said Kenneth M. Sullivan, president and chief executive officer for Smithfield Foods. “In the past five years, we have invested more than ...

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Dec 7 9:08 AM, General News


Hormel Foods Finalizes Sale of Fremont, Neb., Processing Facility

Hormel Foods Corporation (NYSE:HRL) today announced it has completed the sale of its Fremont, Neb., processing facility to Wholestone Farms, LLC. The transaction includes a processing facility and a multiyear agreement to supply pork raw materials to Hormel Foods. The current Fremont plant management team and workforce will remain in place to ...

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Dec 4 2:02 PM, General News


Sysco Reports Progress of “Delivering A Better Tomorrow” in Corporate Social Responsibility Report 

Sysco Corporation (NYSE: SYY), the leading global foodservice distribution company, today released its 2018 Corporate Social Responsibility (CSR) report titled "Delivering A Better Tomorrow.”

The report details the Company’s CSR activities and accomplishments for the fiscal year ending June 30, 2018. Additionally, the report expands on the Company’s continued commitment to CSR with its recently announced 2025 Responsibility Goals in the People, Products and Planet pillars.

Highlights from Sysco’s 2018 Corporate Social Responsibility Report include...

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Nov 26 9:23 AM, General News


Cargill Consolidates Food Ingredients Distribution Network in U.S and Canada to Six Channel Partners

Cargill’s food ingredients and applications business has chosen six North American distribution partners – Univar Inc., Gillco Ingredients, International Food Products Corporation, Batory Foods, Pearson Sales Company and St. Charles Trading, Inc. This move optimizes customer experience, streamlines the supply chain and creates a platform to generate sustainable growth through a select group of committed channel partners.

“In today’s rapidly changing marketplace, our customers need industry-leading distributor partners who can augment our in-house expertise with broad product portfolios for one-stop convenience, regulatory support, flexible lead times and minimum order quantities,” said Pat Rogers, commercial leader in Cargill’s North America food ingredients business. “We’re confident these partners can deliver on those expectations, bringing added value to our customers...

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Nov 15 9:59 AM, General News


Lipari Foods Finalizes Acquisition of PA-Based Heagy Foods, Expanding Distribution Area

On Friday, November 2, Lipari Foods, a leading Midwest food distributor based in Warren, Mich., closed on the acquisition of the specialty deli company, Heagy Foods, including the Guernsey’s Gift brand. Heagy Foods is headquartered in Lancaster, Pennsylvania. The opportunity increases Lipari’s eastern Pennsylvania distribution area along with expanding their portfolio of specialty deli product offerings.

Thom Lipari, President and CEO of Lipari Foods says: “We are excited to team up with a solid, service driven company like Heagy Foods. Adding a variety of their specialty deli products to Lipari’s portfolio along with ability to expand the Lipari distribution footprint will surely bring added value to both Lipari’s existing customers as well as customers that are currently serviced by Heagy Foods.”

Lipari’s strategic position continues to be one of the premier “perimeter of the store and... 

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Nov 8 8:59 AM, General News


Sysco Reports First Quarter Fiscal 2019 Results

Sysco Corporation today announced financial results for its 13-week first fiscal quarter ended September 29, 2018.

First Quarter Fiscal 2019 Highlights

•Sales increased 3.9% to $15.2 billion
•Gross profit increased 3.9% to $2.9 billion; gross margin increased 2 basis points
•Operating income increased 1.4% to $628.1 million; adjusted¹ operating income increased 5.1% to $691.7 million
•EPS increased $0.12 to $0.81; adjusted¹ EPS increased $0.17 to $0.91

“Our top-line results for the first quarter were solid, particularly in our U.S. Foodservice segment,” said Tom Bené, Sysco’s president and chief executive officer. “We continue to see expense challenges in the warehouse and transportation areas of our supply chain, which we anticipate will persist. We remain focused on the execution of our strategic priorities, which we believe will...

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Nov 5 8:22 AM, General News


US Foods Announces Plans for New Distribution Facility in McClellan Park

The new facility is expected to open in 2020 and will service independent restaurant operators across Northern California

US Foods Holding Corp. (NYSE: USFD) today announced its plans to build a 355,000-square-foot distribution center in McClellan, California. The facility will house thousands of foodservice products as well as a meat cutting facility and fleet maintenance operations.

The $71.6 million investment will allow US Foods to more efficiently service the company’s independent restaurant customers across Northern California. Construction of the LEED-certified facility is expected to start mid-2019 and open at the end of 2020.

“The expansion of the US Foods footprint into Sacramento is an important investment as we continue to serve independent restaurant operators across the region,” said Bernie Orsini, area president for Northern California, US Foods. “We look forward to the increased capabilities the location will offer as we continue to execute on our ‘Great Food. Made Easy.’ strategy...

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Oct 31 9:17 AM, General News


Merchants Foodservice Streamlines Distribution Operations with Descartes’ Mobile Solution

WATERLOO, Ontario - Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), the global leader in uniting logistics-intensive businesses in commerce, announced that Merchants Foodservice, the 12th-largest foodservice distributor in the U.S., is streamlining the delivery of wholesale food, beverages and restaurant kitchen supplies to 12 southeastern states using the Descartes Perform™ for Food mobile solution.

“From the smallest family restaurant to schools and national accounts, Merchants is focused on the timely and accurate delivery of quality products while ensuring food safety,” said Andrew Mercier, President and CEO at Merchants Foodservice. “Our delivery operations are managed to high performance standards. Capabilities such as mobile proof-of-delivery and digital photos have allowed us to be more efficient, minimize order discrepancies and satisfy customers at the point of delivery. With delivery volumes of 50,000+ cases per night during peak season, these capabilities are critical for minimizing delivery errors, accounts processing costs and customer payment delays while maintaining... 

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Oct 25 10:17 AM, General News


Golden State Foods Will Sell Selected Distribution Centers To Martin Brower

Golden State Foods (GSF), one of the largest diversified food processors and distributors in the foodservice industry, announced that it has entered into negotiations with Martin Brower Company (Rosemont, Illinois), to sell some of its distribution centers this year.

Discussions are focused on nine of GSF's 27 distribution centers. The nine under discussion are part of 11 distribution centers serving McDonald's. (GSF's 27 centers serve an array of QSR leaders). The sale would support Golden State Foods' and McDonald's strategies for growth, efficiencies and excellent customer service, which have been hallmarks of both organizations for decades. GSF, which has been a food supplier to McDonald's for more than 65 years and a distribution partner for more than 50, will continue to serve as a global manufacturer and distributor to McDonald's and to many other food industry and retail customers throughout the world.

The transaction would put GSF in a very strong financial position to accelerate its already successful strategy through reinvestment and continued potential acquisitions...

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Oct 5 9:11 AM, General News




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