Tofurky Announces New Plant-Based Burger

Tofurky announced its new beef-style burger is now available in over 600 Target locations in the U.S. The new Plant-Based Burger by Tofurky is crafted using a combination of soy protein, vegetable protein, and wheat gluten and lightly seasoned with salt, onion, garlic, and black pepper. It can be found for an SRP of $5.99 in the produce section.

In addition to offering a tasty yet versatile flavor profile, the new burgers are created with Tofurky’s usual focus on the planet. The burger’s soy base claims a more sustainable footprint (given the ability to use all parts of the bean) when compared to pea protein, found in competitive products. Its two-patty packs will use sturdy, recyclable cartons that tout...

Target Reports Second Quarter 2019 Earnings

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

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

Target Introduces Food and Beverage Brand 

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

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

Amazon Share is Declining Amid Online CPG Sales Growth 

Amazon remains the leader in online consumer packaged goods (CPG), continuing to outpace the competition in share of sales and buyers. Yet, its share growth has slowed.

A downward shift in Amazon’s share of CPG sales in the U.S. sends an important message to retailers and manufacturers. Traditional and non-traditional retailers have been accelerating their responses to Amazon by adjusting their omnichannel offerings and strategies. These adjustments have helped them steal share from the global online player, but other factors are at play.

Today, the playing field online has become exponentially more crowded, and while that does bring complications, it also means that many merchants have begun to...