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August Retail Sales Rise Despite 'Trifecta of Macroeconomic Headwinds'
Retail sales increased during August as consumer demand outweighed the pandemic, supply chain disruptions and other factors affecting spending, the National Retail Federation said today.
“The increase in August retail sales reflects the continued strength of the American consumer and the resilience of our nation’s retailers,” NRF President and CEO Matthew Shay said. “In spite of the ongoing challenges of the global pandemic, concerns about the delta variant, and supply chain and workforce constraints, the retail industry continues to do what it does best – serve customers and support communities..."
The Factors Propelling Retail Food Sales Forward
Sales spiked significantly in 2020 (+14% from 2019 levels) due to the impact of the coronavirus, according to the update of Packaged Facts' benchmark coverage of retail food sales in Food Market Outlook 2021: Grocery Shopping, Home Cooking, & Food Preferences in the Waning Pandemic Period.
Consumers sharply curtailed dining out or using school cafeterias and instead did more grocery shopping to prepare and eat most meals and snacks at home. Going forward, retail grocery sales are projected to increase at a significantly lower rate in 2021 from this high base as...
Kroger Reports Second Quarter Results and Raises Full-Year 2021 Guidance
The Kroger Co. today reported its second quarter 2021 results and will update investors on how key initiatives are positioning the company for long-term sustainable growth.
Comments from Chairman and CEO Rodney McMullen –
"Our strategic focus on leading with fresh and accelerating with digital continues to build momentum across our business. Kroger's seamless ecosystem is working. This was evident during the quarter as we saw customers seamlessly shift between channels, and we continued to see strong digital engagement. Customers are eating more food at home because...
Hormel Foods Reports Third Quarter Results and Updates Full Year Earnings Guidance Range
Hormel Foods Corporation, a leading global branded food company, today reported results for the third quarter of fiscal 2021. All comparisons are to the third quarter of fiscal 2020 unless otherwise noted.
EXECUTIVE SUMMARY – THIRD QUARTER
- Volume of 1.2 billion lbs., up 1%; organic volume1 down 2%- Record net sales of $2.9 billion, up 20%; organic net sales1 up 14%- Net sales growth from all four segments and all four sales channels- Net sales up 25% compared to 2019 pre-pandemic levels- Operating income of...
ANALYSIS: USDA Weekly Eggs Processed Numbers Climb, Driven by Manufacturing Needs
Shell Eggs Processed Under Federal Inspection came in at 1,554,781 cases for the week ending August 21st, according to data released yesterday afternoon by the USDA—an increase of...
SpartanNash Announces Second Quarter Fiscal 2021 Financial Results
SpartanNash Company reported financial results for its 12-week second quarter ended July 17, 2021.
Second Quarter Fiscal 2021 Highlights
- Net sales of $2.11 billion declined 3.6% from prior year quarter net sales of $2.18 billion, due to the prior year’s increased consumer demand related to the COVID-19 pandemic.- Retail comparable store sales declined 2.7% for the quarter. Comparable store sales increased by 12.1% on a two-year basis, representing sequential improvement on a quarterly basis.- EPS was $0.47 per share and adjusted...
Urner Barry Releases October Soy & Wheat Report
Urner Barry Releases October Pulse Protein Report
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Urner Barry’s Consulting Division to Launch Egg Market Forecasting Report
US Foods Fall Scoop Designed to Help Operators Appeal to Gen Z and Millennial Diners