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September Retail Sales Grew as Delta Variant Favored Spending on Goods Over Services
Retail sales increased again in September as worries about the COVID-19 delta variant pushed consumer spending toward merchandise rather than services like dining, entertainment or travel despite supply chain disruptions and inflation, the National Retail Federation said today.
“Today’s retail sales data confirms the sheer power of the consumer to spend, and we expect this to continue,” NRF President and CEO Matthew Shay said. “Despite persistent challenges related to the global pandemic, supply chain and labor shortages, retailers and their partners have shown resilience..."
Retail Sales Rise, Showing Strong Consumer Demand and Higher Inflation
Americans stepped up their spending in September, a sign of resilient demand and rising inflation as consumers head into the holiday shopping season.
Sales at retail stores, restaurants and online sellers rose a seasonally adjusted 0.7% in September from the previous month, the Commerce Department said Friday. The rise in sales reflects persistently strong demand and higher consumer prices.
Consumers, armed with stimulus payments and rising wages, have stepped up spending this year, shrugging off the Delta variant of Covid-19, the end of enhanced unemployment benefits and...
General Mills Reports Fiscal 2022 First-Quarter Results
General Mills today reported results for the first quarter ended August 29, 2021.
“I’m proud of the way our team is performing in a dynamic and challenging operating environment,” said General Mills Chairman and Chief Executive Officer Jeff Harmening. “Our strong execution in the first quarter enabled us to deliver top- and bottom-line results ahead of our expectations. We delivered these good results while continuing to advance our Accelerate strategy, including making important progress on portfolio reshaping in the quarter.”
General Mills is executing its Accelerate strategy to drive sustainable, profitable...
Blue Apron Files Registration Statement for Fully Backstopped Rights Offering
Blue Apron Holdings, Inc. today filed a registration statement with the Securities and Exchange Commission for its previously announced proposed fully backstopped equity rights offering, which represents $45.0 million of its planned $78.0 million capital raise.
As part of the $78.0 million capital raise, the company previously disclosed a planned $30.0 million investment by RJB Partners LLC, an affiliate of Joseph N. Sanberg, and a $3.0 million investment by Matthew B. Salzberg, Blue Apron’s co-founder and former board chair, on the same terms as...
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..."
Zoglo's Incredible Food Corp. to List Products with Leading North American Retail Co-operative
Zoglo's Incredible Food Corp. is pleased to announce the listing of its IncredibleTM plant-based product line with Calgary Co-operative Association Limited, solidifying its retail footprint in the Alberta market. The entirety of Zoglo's IncredibleTM line which includes consumer favourites such as chicken strips, meatballs, and burgers will be available in all 22 Calgary Co-op. supermarkets in the Calgary metropolitan area.
Calgary Co-op. is one of North America's largest retail co-operatives with over 440,000 members. They ranked 8th in sales among all...
The Pandemic Lifted Average Retail Spending Per Shopping Occasion, Reports NPD
The COVID-19 pandemic has led to an increase in the average amount U.S. consumers spend on each shopping occasion, whether it is a trip to a physical store or a visit to an online shopping site. Since reaching $34 in March of 2020, average shopping occasion spending has remained elevated at or above that amount through July 2021, according to The NPD Group. This increase is partially due to a general shift toward online purchasing, where average selling prices (ASPs) and the amount spent on each transaction...
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...
Walmart Responds to Continued Growth by Hiring 20,000 Additional Supply Chain Associates
As our business continues evolving to meet the needs of today’s customers, having a robust supply chain is more important than ever. That’s why we’re excited to announce that our team is growing.
We released FY22 Q2 earnings last week, and they revealed just how much Walmart has grown over the past year — we had another strong quarter. Innovation across all areas of the business had a huge impact on our growth, and earlier this year, we shared plans to roll out high-tech automation systems to...
Surging Delta Variant Continues to Impact the Way Consumers Shop
Just as normalcy appeared to be on the horizon, surges of COVID-19 cases brought by the Delta variant are once again leaving many Americans in fear of what’s to come. Thirty percent of shoppers are more worried about COVID as Delta cases continue to rise, and 40 percent report feeling the same level of discomfort as they did one month ago. Of those concerned Americans, 43 percent report that the Delta variant is impacting the way they shop, and nearly half (47 percent) are more worried about shopping...
July Retail Sales Slow Amid Tight Supply Chain but Demand Continues
Retail sales slowed during July as retailers continued to face supply chain disruptions and increased COVID-19 vaccinations allowed consumers to shift some spending from goods to activities like going out to dinner and traveling despite the delta variant, the National Retail Federation said today.
“July retail sales showed slight deceleration in spending, but nothing to derail our outlook for a record year,” NRF President and CEO Matthew Shay said. “Though the delta variant is presenting health challenges while supply chain disruptions along with unfilled job openings are presenting..."
May Retail Sales Reach Near-Record Level Despite Monthly Decline
Retail sales remained at elevated levels in May despite month-to-month fluctuations that masked near-record performance, the National Retail Federation said.
“While May retail sales were down slightly, largely due to supply chain constraints, the more accurate indicator remains in the year-over-year data which, as the NRF calculates, showed growth of over 17 percent,” NRF President and CEO Matthew Shay said. “For the first five months of this year, retail sales are already tracking 17.6 percent above the same five months of 2020, giving us further confidence in our newly revised sales forecast of growth between 10.5 percent and 13.5 percent to more than $4.44 trillion for 2021. While there are downside risks related to...
Retail Sales to Now Exceed $4.44 Trillion in 2021, as NRF Revises Annual Forecast
The National Retail Federation issued its revised annual forecast for 2021, anticipating that retail sales will now grow between 10.5 percent and 13.5 percent to more than $4.44 trillion this year as the economy accelerates its pace of recovery.
“The economy and consumer spending have proven to be much more resilient than initially forecasted,” NRF President and CEO Matthew Shay said. “The combination of vaccine distribution, fiscal stimulus and private-sector ingenuity have put millions of Americans back to work. While there are downside risks related to worker shortages, an overheating economy, tax increases and over-regulation, overall households are healthier, and consumers are demonstrating...
ANALYSIS: Cage-Free Inventories Mount as Proposition 12 Deadline Draws Closer
While cage-free inventories have been steadily climbing over the past several years as producers prepare for the forthcoming deadlines, USDA data shows they’ve begun to increase at a faster pace in recent weeks, surging...
Retail Looks Forward as the US Emerges from the Pandemic
As the United States emerges from pandemic rules in the coming months, there will be changes, large and small, for retailers to consider, as they map their way forward. Companies will be setting new policies regarding returning to offices, more schools will reopen for in-person learning, and consumers will again start to travel, all of which have enormous implications for the retail industry, according to The NPD Group.
In a recent presentation to the Retail Industry Leaders Association (RILA), NPD Chief Retail Strategist Don Unser outlined the retail industry headwinds and tailwinds expected in the coming year. Following are three of the most critical trends affecting retailers in the coming months...
PLANT PROTEIN: Get to Know Players in the Plant Protein Market: The Better Meat Company
“Of course people like eating burgers, people like eating meat! We want to give people that same experience, just with a far more diversified portfolio of proteins. Whether that means it’s a blended burger, a plant-based burger, or a burger made from microbial proteins, we want to give people the experience of eating meat that people want, but with a much smaller footprint on the planet.” said Paul Shapiro, The Better Meat Company’s CEO, TEDx speaker, bestselling author, podcast host, plant-based fish stick enjoyer, and animal lover.
With just three growth packed years in the industry and 16 employees, The Better Meat Company provides high quality plant protein formulations to major food companies for use in both blended meat-plant hybrid products and traditional plant-based foods...
March Retail Sales See Strong Rebound Amid Increased Vaccination and Government Stimulus
Retail sales rebounded with huge gains in March as government checks fattened consumers’ bank accounts and more vaccination against COVID-19 made it easier for shoppers to get out of the house and lead the acceleration of the U.S. economy, the National Retail Federation said.
“The dramatic increase of nearly 18 percent in March retail sales over the same period last year confirms that a confident consumer is driving the economic rebound, and that should continue through the remainder of 2021,” NRF President and CEO Matthew Shay said. “American households are clearly feeling the full effect of additional fiscal stimulus, gains in the job market and the reopening of the economy. Although there have been some recent issues related to vaccines, consumer confidence remains...
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