Tyson Foods Reports Fourth Quarter and Fiscal 2022 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:

Fiscal 2022 Highlights

• GAAP EPS of $8.92, up 7% from prior year; Adjusted EPS of $8.73, up 5% from prior year
• GAAP operating income of $4,410 million, up slightly from prior year; Adjusted operating income of $4,414 million, up 3% from prior year
• Total Company GAAP operating margin and...

Grocery Outlet Holding Corp. Announces Third Quarter Fiscal 2022 Financial Results

Grocery Outlet Holding Corp. today announced financial results for the third quarter of fiscal 2022 ended October 1, 2022.

Highlights for the Third Quarter Fiscal 2022 as compared to the Third Quarter Fiscal 2021:

• Net sales increased by 19.4% to $918.2 million.
• Comparable store sales increased by 15.4% and on a 3-year stacked basis increased by 20.2%⁽¹⁾.
• The Company opened six new stores, ending the quarter with 431 stores in eight states.
• Net income increased by 2.1% to $17.5 million, or $0.17 per diluted...

Maple Leaf Foods Reports Third Quarter 2022 Financial Results

Meat Protein delivers top-line growth of 3.8% and Adjusted EBITDA Margin of 8.5% in the quarter

Plant Protein targeting neutral or better Adjusted EBITDA in the latter half of 2023

Maple Leaf Foods Inc. today reported its financial results for the third quarter ended September 30, 2022.

"We are at an important inflection point in our business, grounded in exceptional underlying strength and opportunity even though this is not immediately obvious in current performance or reflected in our share price," said Michael H. McCain, Chief Executive Officer of Maple Leaf...

Restaurant Brands International Inc. Reports Third Quarter 2022 Results

Consolidated system-wide sales grow 14%, including 12% at Popeyes, 13% at Tim Hortons and 14% at Burger King

Global comparable sales accelerate to 9%, led by 11% growth at Tim Hortons Canada and 15% at Burger King International

Digital sales grow 26% year-over-year to approximately $3.4 billion, representing a third of system-wide sales

RBI continues to return capital through its industry-leading dividend while investing in its brands and reducing net leverage

Restaurant Brands International Inc. today reported financial results for the third quarter ended September...

Yum! Brands Reports Third-Quarter Results

Yum! Brands, Inc. today reported results for the third quarter ended September 30, 2022. Worldwide system sales excluding foreign currency translation grew 7%, with 5% same-store sales growth and 4% unit growth. Third quarter GAAP operating profit grew 4%. Third quarter core operating profit grew 8% including a 3-point headwind from Russia. Third quarter GAAP EPS was $1.14 and third quarter EPS excluding Special Items was $1.09. Our year-over-year EPS excluding Special Items results reflect a $0.23 negative impact from a higher current year...

Sysco Delivers Double-Digit Sales and Profit Growth

Sysco Corporation today announced financial results for its 13-week first fiscal quarter ended October 1, 2022.

Key highlights for the first quarter of fiscal year 2023 include:

• Continued market share gains and volume growth;
• Gross profit per case improved;
• Double-digit profit growth; and
• Continued investment for growth and return of capital to shareholders.

“Sysco began the fiscal year generating double-digit top-line and bottom-line growth, as we effectively managed inflation, increased case volume and grew market share. We remain on target to grow over 1.35..."

Pilgrim’s Pride Reports Third Quarter 2022 Results

Pilgrim’s Pride Corporation, one of the world's largest poultry producers, reports its third quarter 2022 financial results.

Third Quarter Highlights

• Net Sales of $4.47 billion, up 16.8% from prior year.
• Consolidated GAAP operating income margin of 7.6% with GAAP operating income margins of 11.9% in U.S., (3.2)% in Mexico and 1.2% in Europe.
• GAAP Net Income of $259.0 million and GAAP EPS of $1.08. Adjusted Net Income of $260.7 million or adjusted EPS of $1.09.
• Adjusted EBITDA of $460.5 million, or a 10.3% margin, 32.7% higher than...

McDonald's Reports Third Quarter 2022 Results

• Global comparable sales increased nearly 10%, with growth across all segments
• U.S. comparable sales increased more than 6% for the quarter, marking the ninth consecutive quarter of comparable sales growth for the segment
• Digital Systemwide sales* in our top six markets were nearly $7 billion for the quarter, representing over a third of total Systemwide sales in those markets

McDonald's Corporation today announced results for the third quarter ended September 30, 2022.

"Our third quarter 2022 performance demonstrated broad-based business momentum as global comparable sales increased nearly 10%. I remain confident in..."

Wingstop Inc. Reports Fiscal Third Quarter Financial Results

Wingstop Inc. today announced financial results for the fiscal third quarter ended September 24, 2022.

Highlights for the fiscal third quarter 2022 compared to the fiscal third quarter 2021:

• System-wide sales increased 17.7% to $699.6 million
• 40 net new openings in the fiscal third quarter 2022
• Domestic same store sales increased 6.9%
• Domestic restaurant AUV of $1.6 million
• Digital sales of 62.0% of sales
• Total revenue increased 40.9% to $92.7 million
• Net income increased 18.4% to $13.4 million, or $0.45 per diluted share, compared to net...

Albertsons Companies, Inc. Reports Second Quarter Fiscal 2022 Results

Albertsons Companies, Inc. today reported results for the second quarter of fiscal 2022, which ended September 10, 2022.

Second Quarter of Fiscal 2022 Highlights

- Identical sales increased 7.4%
- Digital sales increased 36%
- Loyalty members increased 16% to 31.8 million
- Net income of $343 million, or $0.59 per share
- Adjusted net income of $418 million, or $0.72 per share
- Adjusted EBITDA of $1,049 million

"Our team continued to deliver strong performance during the second quarter," said Vivek Sankaran, CEO. "Throughout the quarter, we continued to invest in..."

Domino's Pizza® Announces Third Quarter 2022 Financial Results

Global retail sales growth (excluding foreign currency impact) of 4.7%

U.S. same store sales growth of 2.0%

International same store sales decline (excluding foreign currency impact) of 1.8%

Global net store growth of 225

Diluted EPS down 13.9% to $2.79

Domino's Pizza, Inc., the largest pizza company in the world, announced results for the third quarter of 2022. Global retail sales, excluding the negative impact of foreign currency, grew 4.7% in the third quarter of 2022. Without adjusting for the impact of foreign currency, global retail sales declined...

Conagra Brands Reports First Quarter Results

Today Conagra Brands, Inc. reported results for the first quarter of fiscal year 2023, which ended on August 28, 2022. All comparisons are against the prior-year fiscal period, unless otherwise noted.

Highlights
- First quarter net sales increased 9.5%; organic net sales increased 9.7%
- Operating margin in the quarter was (0.7%); adjusted operating margin was 13.7%
- Diluted loss per share for the first quarter was $0.16, and adjusted earnings per share (EPS) was $0.57
- First quarter operating margin, net income, and diluted EPS were impacted by non-cash goodwill and intangible asset...

Cracker Barrel Reports Fourth Quarter Fiscal 2022 Results and Provides Fiscal 2023 Outlook

Cracker Barrel Old Country Store, Inc. today reported its financial results for the fourth quarter of fiscal 2022 ended July 29, 2022.

Fourth Quarter Fiscal 2022 Highlights

- The Company reported fourth quarter total revenue of $830.4 million. Compared to the prior year fourth quarter, total revenue increased 5.9%.
- Comparable store restaurant sales increased 6.1%, while comparable store retail sales increased 3.0%.

- GAAP operating income for the fourth quarter was $33.0 million, or 4.0% of total revenue, and adjusted1 operating income was $36.2 million, or...

RAVE Restaurant Group, Inc. Reports Fourth Quarter and Year End Financial Results

RAVE Restaurant Group, Inc. today reported financial results for the fourth quarter and fiscal year ended June 26, 2022.

Fourth Quarter Highlights:
- The Company recorded net income of $6.8 million for the fourth quarter of fiscal 2022 compared to net income of $0.9 million for the same period of the prior year.
- Income before taxes was $1.1 million for the fourth quarter of fiscal 2022 compared to net income before taxes of $0.9 million for the same period of the prior year...

Kroger Reports Second Quarter 2022 Results and Raises Full-Year Guidance

Second Quarter Highlights:

- Identical Sales without fuel increased 5.8%
- Operating Profit of $954 million; Adjusted FIFO Operating Profit of $1,110 million
- EPS of $1.00; Adjusted EPS of $0.90
- Company is executing its go-to-market strategy to deliver value for customers
      - Our Brands identical sales increased 10.2%
      - Digital sales grew 8%
      - Accelerated our Fresh Produce Initiative with 864 stores now certified, driving higher identical sales

The Kroger Co. (NYSE: KR) today reported its second quarter 2022 results and will update...

Restaurant365 Data Reveals Increase in 2022 Mid-Year Sales

Restaurant365, the leading all-in-one restaurant enterprise management software, reported that demand remained strong for restaurants in the second quarter of 2022, citing a 12% increase in its customers' sales from Q1 to Q2, despite the challenges of inflation and rising food costs.

"As economists discuss a potential economic slowdown, restaurants may not yet feel impacted because their sales continue to grow," stated Tony Smith, CEO and co-founder of Restaurant365. "A decline is still a very real possibility, so now is the best time for restaurants to take action..." 

Kraft Heinz Affirms Full Year 2022 Guidance, Reduces Leverage Target and Details Long-term Algorithm

The Kraft Heinz Company will today affirm its full year 2022 guidance, announce a reduced leverage target and outline additional details on its long-term algorithm, as executives participate in the 2022 Barclays Global Consumer Staples Conference. Miguel Patricio, Chief Executive Officer and Chair of the Board of Directors; Andre Maciel, EVP and Global Chief Financial Officer; and Carlos Abrams-Rivera, EVP and President, North America Zone, will share their perspectives as part of a discussion about the ongoing Kraft Heinz transformation and plans to...

Steakholder Foods™ Reports Financial Results for Q2 2022 and Provides Business Update

Steakholder Foods, formerly MeaTech 3D Ltd., an international deep-tech food company at the forefront of the cultured meat industry, today released its financial results for Q2 2022 and provided a business update.

Steakholder Foods is developing high quality beef, chicken, pork, and seafood products made from animal cells rather than farm-raised animals — as whole cuts, ground and raw materials — that are safer and with significantly less impact than conventional meat.

Q2 2022 Financial Results Summary

- Research and development expenses totaled...

Nomad Foods Reports Second Quarter 2022 Financial Results

Nomad Foods Limited, today reported financial results for the three and six month periods ended June 30, 2022. Key operating highlights and financial performance for the second quarter 2022, when compared to the second quarter 2021, include:

- Reported revenue increased 17.0% to €697 million
- Organic revenue decline of 3.2%
- Reported Profit for the period of €75 million
- Adjusted EBITDA increased 2.9% to €127 million
- Adjusted EPS remained unchanged at €0.40

Management Comments
Stéfan Descheemaeker, Nomad Foods' Chief Executive Officer, stated...

Ahold Delhaize Delivers Resilient Performance in Q2 2022

- With high levels of inflation, our brands are focused on helping customers efficiently manage their spending. Driven by our €850 million Save For Our Customers cost savings program, our brands are absorbing cost increases for customers, introducing more entry-priced products, expanding high-quality own-brand assortments and delivering personalized value through loyalty programs.
- Q2 Group net sales increased 6.4% at constant exchange rates to €21.4 billion. At actual exchange rates, net sales grew 15.0%.
- Q2 net sales accelerated in both regions compared to Q1, growing 7.7% in the...

Jack in the Box Inc. Reports Third Quarter 2022 Earnings

Jack in the Box Inc. announced financial results for the Jack in the Box and Del Taco segments in the third quarter, ended July 10, 2022.

“I am very encouraged by the commitment shown by our franchisees, operators and corporate team members as we navigate this challenging and complex operating environment. We have remained steadfast in executing our four strategic pillars by focusing on what we can control,” said Darin Harris, Jack in the Box Chief Executive Officer. “Both Jack and Del Taco demonstrated top-line strength, delivering excellent..."

The Wendy's Company Reports Second Quarter 2022 Results

The Wendy's Company today reported unaudited results for the second quarter ended July 3, 2022.

"We are proud of the entire Wendy's® system for delivering a third consecutive quarter of accelerating double digit Global same-restaurant sales on a two-year basis, which exceeded our expectations," President and Chief Executive Officer Todd Penegor said. "This momentum contributed to a significant sequential Company-operated restaurant margin expansion, highlighting the strength of the underlying business and our brand as well as our commitment to the restaurant economic model in a challenging environment..."

Sysco Delivers Over 1.3 Times U.S. Market Share Growth and Strong Profit

Sysco Corporation today announced financial results for its 13-week fourth fiscal quarter and its 52-week fiscal year ended July 2, 2022. In fiscal year 2021, the fourth quarter included 14 weeks, and the year included 53 weeks.

Key highlights for the fourth quarter and full year of fiscal year 2022 include:

- Sysco growth outpaced the U.S. market by more than 1.3 times for the full year;
- Recipe For Growth advanced as planned;
- Volume growth for the quarter and year;
- Effective pass-through of rising product costs...

Restaurant Brands International Inc. Reports Second Quarter 2022 Results

Restaurant Brands International Inc. today reported financial results for the second quarter ended June 30, 2022.

"We made significant progress across our business in the second quarter, accelerating consolidated comparable sales to 9% and driving 14% growth in global system-wide sales. These results reflect benefits from our dedicated investments in key areas of the business, including people, technology, operations and marketing," said José Cil, Chief Executive Officer of RBI.

"The team at Tim Hortons Canada delivered exceptional results this quarter, aided by investments against our Back to Basics plan and..."

Yum China Reports Second Quarter 2022 Results

Yum China Holdings, Inc. today reported unaudited results for the second quarter ended June 30, 2022.

Impact of COVID Outbreak and Mitigation Efforts

The most severe COVID outbreaks to date in China continued to significantly affect the restaurant industry and our operations in the second quarter. According to government statistics, the restaurant industry in China experienced a revenue decline of approximately 16% year over year in the quarter.

- Nationwide, regional COVID outbreaks impacted large portions of the country. During peak outbreak periods, hundreds of millions of people were in some type of lockdown...

Chipotle Announces Second Quarter 2022 Results

Chipotle Mexican Grill, Inc. today reported financial results for its second quarter ended June 30, 2022.

Second quarter highlights, year over year:

- Total revenue increased 17.0% to $2.2 billion
- Comparable restaurant sales increased 10.1%
- In-restaurant sales increased 35.9%, while digital sales1 represented 39.0% of food and beverage revenue
- Operating margin was 15.3%, an increase from 13.0%
- Restaurant level operating margin was 25.2% 2, an increase of 70 basis points
- Diluted earnings per share was $9.25, a 40.2% increase from $6.60. Adjusted diluted earnings per share, which excluded a $0.05...

Albertsons Companies, Inc. Reports First Quarter Fiscal 2022 Results

Albertsons Companies, Inc. today reported results for the first quarter of fiscal 2022, which ended June 18, 2022.

First Quarter of Fiscal 2022 Highlights

- Identical sales increased 6.8%
- Digital sales increased 28%
- Net income of $484 million, or $0.84 per share
- Adjusted net income of $582 million, or $1.00 per share
- Adjusted EBITDA of $1,420 million

"In the first quarter, our teams continued to deliver strong operating and financial performance across all key metrics, and we continued to gain market share," said...

Domino's Pizza® Announces Second Quarter 2022 Financial Results

Domino's Pizza, Inc., the largest pizza company in the world, announced results for the second quarter of 2022. Global retail sales, excluding the negative impact of foreign currency, grew 1.5% in the second quarter of 2022. Without adjusting for the impact of foreign currency, global retail sales declined 3.0% in the second quarter of 2022.

U.S. same store sales declined 2.9% and international same store sales (excluding foreign currency impact) declined 2.2% during the second quarter of 2022. The decline in international same store sales (excluding foreign currency impact) was driven...

Cal-Maine Foods Reports Record Fiscal Fourth Quarter and Fiscal Year 2022 Results

- Record fourth quarter net income of $110.0 million, or $2.25 per diluted common share
- Fourth quarter net sales of $593.0 million, up 69.5% year-over-year
- Fiscal year 2022 net income of $132.7 million, or $2.72 per diluted share, versus net income of $2.1 million in fiscal 2021
- Fiscal 2022 net year sales increased to nearly $1.8 billion, up 31.7% versus fiscal 2021
- Announces fourth quarter fiscal 2022 cash dividend of $0.75 per share
- Approved $55.3 million capital...

Cracker Barrel Reports Third Quarter Fiscal 2022 Results

Cracker Barrel Old Country Store, Inc. today reported its financial results for the third quarter of fiscal 2022 ended April 29, 2022.

Third Quarter Fiscal 2022 Highlights

- The Company reported third quarter total revenue of $790.2 million. Compared to the prior year third quarter, total revenue increased 10.8%.
- Comparable store restaurant sales increased 10.9%, while comparable store retail sales increased 9.7%.

- GAAP operating income for the third quarter was $30.5 million, or 3.9% of total revenue, and adjusted1 operating income was $33.6 million, or 4.3% of total revenue...

Hormel Foods Reports Record Sales and Double-Digit Earnings Growth in the Second Quarter

Hormel Foods Corporation, a leading global branded food company, today reported results for the second quarter of fiscal 2022. All comparisons are to the second quarter of fiscal 2021 unless otherwise noted.

EXECUTIVE SUMMARY

SECOND QUARTER

- Volume of 1.2 billion lbs., down 2%; organic volume1 down 8%
- Record net sales of $3.1 billion, up 19%; organic net sales1 up 10%
- Operating income of $335 million, up 16%
- Operating margin of 10.8%, compared to 11.1% last year and 10.5% last quarter
- Pretax earnings of...

The Wendy's Company Reaffirms 2022 Outlook

The Wendy's Company today reaffirmed its 2022 outlook.

"As evidenced by our sales momentum, which accelerated on a 2-year basis in Q1 2022, we continue to make significant progress across our three long-term growth pillars: building our breakfast daypart, accelerating our digital business, and expanding our footprint across the globe," President and Chief Executive Officer Todd Penegor said. "We achieved a second consecutive quarter of double digit 2‐year global same‐restaurant sales, opened over 90 new restaurants, accelerated our global digital business to over 10% of total sales..."

Minerva Foods Posts Record Consolidated Gross Revenue and EBITDA in the First Quarter of 2022

Minerva Foods, the South American leader in the export of fresh beef and cattle byproducts, which also operates in the processed foods segment, announces to the market the financial results for the first quarter of 2022 (1Q22).

The Company's consolidated gross revenue totaled R$7.6 billion in 1Q22, up by 25% over 1Q21. In the 12 months ended March 2022 (LTM1Q22), consolidated gross revenue reached R$30.1 billion, a 35% increase over LTM1Q21.

In 1Q22, exports accounted for 70% of Minerva Foods' gross...

Blue Apron Provides Details Regarding Next Phase of Strategic Plans 

- Introduced Next Phase of Strategy Towards Path to Adjusted EBITDA Profitability in 2023 and Free Cash Flow Generation in 2024
- Highlighted Drivers of Success Behind Eight Straight Quarters of Elevated Customer Metrics
- Outlined Plans to Drive Customer Growth Through Targeted Marketing Spend, Product Innovation, Customizations, Add-ons, and Non-Subscription Offerings
- Targeted Long-Term Steady-State Variable Margin of 40% and PTG&A of 20% of Revenue
- Discussed Strategy to Responsibly Deploy Recent Equity Capital Raised to Invest in Platform to Help Execute Its New Strategy

Blue Apron hosted...

The Wendy's Company Reports First Quarter 2022 Results

The Wendy's Company today reported unaudited results for the first quarter ended April 3, 2022.

"We continue to make meaningful progress against our three strategic growth pillars, reinforcing the strength and resiliency of the Wendy's® brand and driving robust AUV and sales increases," President and Chief Executive Officer Todd Penegor said. "We had one of our best quarters in our history for unit growth, with over 90 new restaurant openings, and are on track to reach our planned net unit growth goal of 5 to 6 percent for the year..." 

Sysco Third Quarter Results Delivered Market Share Gains & Growing Profitability

Sysco Corporation today announced financial results for its 13-week third fiscal quarter ended April 2, 2022.

Key highlights for the third quarter of fiscal year 2022:

- Robust consumer and customer away-from-home demand in late February and March, as Sysco’s resilient business snapped back from the impact of Omicron;
- Meaningful market share gains in the U.S. and International Segments based on Sysco’s Recipe for Growth strategy;
- Significant volume improvements, with U.S. Broadline volume up 18.8% versus the same period in fiscal year 2021, with our U.S. Foodservice segment...

Tyson Foods Reports Second Quarter 2022 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 Six Months Highlights

- GAAP EPS of $5.35, up 107% from prior year; Adjusted EPS of $5.16, up 57% from prior year
- GAAP operating income of $2,611 million, up 83% from prior year; Adjusted operating income of $2,593 million, up 47% from prior year
- Total Company GAAP and Adjusted operating margin...

Papa John’s International Announces First Quarter 2022 Financial Results

Papa John’s International, Inc. today announced financial results for the first quarter ended March 27, 2022.

First quarter 2022 highlights compared to first quarter of 2021

- Total company revenues increased 6.0% to $542.7 million; global system-wide restaurant sales of $1.3 billion, up 5.3% (excluding the impact of foreign currency)
- Comparable sales up 1.9% in North America and 0.8% Internationally, lapping prior year gains of 26.2% and 23.2%, respectively
- 62 net unit openings driven by accelerating development activity and growing pipeline, especially Internationally...

Weis Markets Reports First Quarter 2022 Results

Weis Markets, Inc. today reported its financial results for the 13-week first quarter ended March 26, 2022.

"We continued to build on our momentum in the first quarter, when we generated strong comparable store sales and net income increases. Despite significant inflationary pressures, we were able to maintain stable gross profit margins and effectively manage expenses," said Weis Markets' Chairman, President and CEO Jonathan H. Weis. "These results reflect the hard work and dedication of associates at every level of our company. They have helped us navigate the challenges of a..."

Yum! Brands Reports First-Quarter Results

Yum! Brands, Inc. today reported results for the first quarter ended March 31, 2022. Worldwide system sales excluding foreign currency translation grew 8%, with 6% unit growth and 3% same-store sales growth. First quarter GAAP EPS was $1.36, an increase of 27% year-over-year. First quarter EPS excluding Special Items was $1.05, a decrease of (1)% year-over-year.

DAVID GIBBS COMMENTS

David Gibbs, CEO, said “Our system sales grew 8% despite the difficult operating environment, a testament to the demand for our iconic brands and the unmatched operating...

Wingstop Inc. Reports Fiscal First Quarter Financial Results

Wingstop Inc. today announced financial results for the fiscal first quarter ended March 26, 2022.

Highlights for the fiscal first quarter 2022 compared to the fiscal first quarter 2021:

- System-wide sales increased 12.7% to $630.0 million
- 60 net new openings in the fiscal first quarter 2022, an increase of 13.4%
- Domestic same-store sales increased 1.2%
- Three-year domestic same-store sales increased 31.8%
- Domestic restaurant AUV increased to $1.6 million
- Digital sales were 62.3% of sales, comparable to the prior fiscal first quarter...

Restaurant Brands International Inc. Reports First Quarter 2022 Results 

First quarter system-wide sales grew 14% year-over-year, up nearly $1 billion year-over-year

Global comparable sales growth of 8% driven by over 10% at Tim Hortons Canada and over 20% at Burger King International

Home market digital sales reach their highest levels ever as a percentage of system-wide sales

Record number of first quarter restaurant openings, led by multi-brand international growth and Popeyes in the US

Over $400 million of capital returned to shareholders in Q1 through dividends and share buybacks...

Publix Reports First Quarter 2022 Results and Stock Price

Publix’s sales for the three months ended March 26, 2022 were $13.2 billion, a 13.5% increase from $11.7 billion in 2021. Comparable store sales for the three months ended March 26, 2022 increased 11.7%.

Net earnings for the three months ended March 26, 2022 were $618 million, compared to $1.5 billion in 2021, a decrease of 58.7%. Earnings per share for the three months ended March 26, 2022 decreased to $0.90 per share, down from $2.16 per share in 2021. Excluding the impact of net...

US Restaurant Industry Ends Challenging First Quarter with Customer Traffic Down from A Year Ago

In the first quarter of 2021, the third round of stimulus payments, availability of COVID vaccines and relaxed pandemic restrictions helped increase online and physical visits to U.S. restaurants by 3% compared to the same period a year before, according to The NPD Group. The first quarter of 2022, in contrast, presented a host of headwinds, including higher food and energy costs, for restaurant consumers and restaurants. Challenged by these headwinds and compared to a 3% gain in last year’s first quarter, online and physical...

Kraft Heinz Reports First Quarter 2022 Results

The Kraft Heinz Company today reported financial results for the first quarter of 2022 that reflected strong price realization, resilient retail demand, and foodservice growth.

"Our first quarter was a strong start to the year and yet another period where our team rose to mitigate new and different macro environment challenges," said Kraft Heinz CEO Miguel Patricio. "We continue to build critical capabilities, greater corporate agility, and additional financial flexibility to address short-term turmoil while building our long-term advantage. We still have work to do, more opportunity ahead, and we remain..."

Real Good Foods Highlights Another Consecutive Period of Strong Sales and Velocity Growth

The Real Good Food Company, Inc., an innovative, high-growth, branded, health- and wellness-focused frozen food company, today released the U.S. SPINS retail scanner performance data across all its products from the most recent period ending March 20th, 2022(1). For perspective, SPINS data captures consumption data in the Food, Drug and Mass retail channel, which represents approximately 50% of the Company's sales.

- The overall Frozen category (2) grew 5.8% over the four-week period.
- The Health & Wellness Frozen Food subcategory (2), which includes Health and...

Cal-Maine Foods Reports Third Quarter Fiscal 2022 Results

Cal-Maine Foods, Inc. reported results for the third quarter of fiscal 2022 (thirteen weeks) and 39-week period ended February 26, 2022.

Net sales in the third quarter of fiscal 2022 increased 33.0 percent to $477.5 million compared to $359.1 million in the third quarter of fiscal 2021. The Company reported net income of $39.5 million, or $0.81 per basic and diluted common share, for the third quarter of fiscal 2022, compared to net income of $13.5 million, or $0.28 per basic...

Wingstop Inc. Completes $250 Million Securitization Transaction and Declares Special Dividend 

Wingstop Inc., completed a securitized financing transaction on March 9, 2022, which included the issuance of a new series of $250 million of securitized notes (the "Notes"). The Series 2022-1 Class A-2 Senior Secured Notes are subject to 1% annual amortization, bear interest at a rate of 3.734% per annum, and have an anticipated repayment date of March 2029. Interest and principal payments on the Notes are payable on a quarterly basis.

In addition to the Notes, the Company also entered into a $200...

Red Robin Gourmet Burgers, Inc. Reports Results for the Fiscal Fourth Quarter

Red Robin Gourmet Burgers, Inc., a full-service restaurant chain serving an innovative selection of high-quality gourmet burgers in a family-friendly atmosphere, today reported financial results for the fiscal fourth quarter and year ended December 26, 2021.

Fourth Quarter 2021 Key Highlights

- Restaurant revenue of $276.7 million increased 41.5% compared to 2020;
- Comparable restaurant revenue increased 40.1% compared to 2020;
- Restaurants that were at or above 2019 staffing levels had comparable restaurant revenues of 49.3%, compared to 2020;
- Net loss of $21.3 million improved...

Kroger Reports Fourth Quarter and Full-Year 2021 Results

Fourth Quarter Highlights

- Identical Sales without fuel increased 4.0%; two-year stack increased 14.6%
- Digital Sales two-year stack grew 105%
- EPS of $0.75; Adjusted EPS of $0.91
- Operating Profit of $965 million; Adjusted FIFO Operating Profit of $1,014 million

Fiscal 2021 Highlights

- Identical Sales without fuel increased 0.2%; two-year stack increased 14.3%
- Digital Sales two-year stack grew 113%
- EPS of $2.17; Adjusted EPS of $3.68
- Operating Profit of $3.5 billion; Adjusted FIFO Operating Profit of $4.3 billion
- Cost savings...