Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required.
Password is required.
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...
Nathan's Famous to Pilot With Let us Nudge in 15 Locations Throughout the U.S.
Nathan's Famous, the American tradition serving New York favorites for more than 100 years, announces its partnership with Let us Nudge, an emergent restaurant technology solution that provides table seating efficiencies during both busy and slow times. We expect the Let us Nudge technology will enable Nathan's to increase sales through campaign management and targeted coupons at 15 Nathan's Famous locations throughout the country with the Nudge@Home platform.
"At Nathan's Famous, we are always seeking partners with innovative technology that enables us to offer our customers..."
NRF Forecasts Annual Retail Sales to Grow Between 6 Percent and 8 Percent
The National Retail Federation today issued its annual forecast, anticipating that retail sales will grow between 6 percent and 8 percent to more than $4.86 trillion in 2022. The announcement was made during NRF’s annual State of Retail & the Consumer virtual event where retail industry leaders discussed the strength of the consumer economy and the future of retail.
“NRF expects retail sales to increase in 2022, as consumers are ready to spend and have the resources to do so,” NRF President and CEO Matthew Shay said...
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 February 20, 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 4.2% over the four-week period.- The Health & Wellness Frozen Food subcategory...
Consumer and Corporate Food Gifting Market Rises to $33 Billion
The U.S. food and beverage industry has been impacted heavily by COVID-19. In 2020 and 2021, more people were staying at home and not gathering as much in person. Food gifts have been a good gift to send directly to people who are staying at home because they are practical, easy to ship, comforting, and a good way to send treats to someone who cannot be visited in person. Corporate gifting has also increased rapidly during the pandemic as more employers have canceled in-person holiday parties and...
Checkers® & Rally's® Experiences Monumental Year After Successful Expansion on the East & West Coast
Checkers & Rally's, an iconic and innovative drive-thru restaurant chain known for bold and flavorful food at an exceptional value and its people-first attitude, today announced its record year-end progress for 2021 and accelerated growth plans for 2022 as the restaurant brand continues to reach new markets and expand nationwide. This past year, the company successfully executed 90 new commitments towards new restaurants, attributing 39 units to existing franchisees and 51 units to new franchisees. The company is expected to open more than...
TGI Fridays Credits Digital Innovation, Craveable Menu for Industry-Leading Performance
TGI Fridays®, the world's first and most recognized casual bar and grill, today announced its year-to-date financial results with 41 consecutive weeks of same-store sales growth versus pre-pandemic numbers in 2019 and double-digit growth in the back half of 2021. This industry-leading performance is driven by its digital channels, where year-to-date sales volumes are up 290 percent compared to 2019; new revenue streams through virtual restaurants; and continuing to offer the craveable food guests have come to love...
Stryve Foods Lands Nearly 8,000 Convenience Store Order for Standing Floor Displays with 7-Eleven
Stryve Foods, Inc., an emerging healthy snack and eating platform disrupting traditional consumer packaged goods (CPG) categories, and a leader in the air-dried meat snack industry in the United States, announced a major new distribution agreement with 7-Eleven, the world's largest convenience retailer with more than 77,000 stores worldwide, that will bring three flavors of its popular Vacadillos carne seca air-dried meat snacks for the first time to nearly 8,000 7-Eleven domestic convenience stores, a record new sale for the product...
Capriotti's Sandwich Shop and Wing Zone Announces 2021 Growth, New Investors
As 2021 comes to a close, Capriotti's Sandwich Shop (Capriotti's) and Wing Zone announced another extremely successful quarter which brought the signing of 12 area developer agreements equating to a total of 53 new shops between the two brands. With the addition of these new signings, Capriotti's closes out the year with a total of 96 new shops, and Wing Zone signed agreements for 91 new shops in 2021.
The Q4 area developer agreements will expand both brands into new territories – bringing award-winning food to new fans across...
November Retail Sales Put Holiday Season on Track to Set New Records
Retail sales continued to grow in November, putting the 2021 holiday season on the home stretch for record spending despite inflation, supply chain disruptions and COVID-19, the National Retail Federation said today.
“Despite economic headwinds, November retail sales data confirms that consumers continue to spend, as demonstrated by a 14 percent increase in sales year-over-year,” NRF President and CEO Matthew Shay said. “We expect demand will remain strong through December, even though consumers started holiday shopping earlier than ever this year. Despite the rise of..."
Real Good Foods Highlights Sales Growth and Velocity Acceleration in Retail Channel
The Real Good Food Company, Inc., an innovative, high-growth, branded, health- and wellness-focused frozen food company, today released U.S. SPINS retail scanner data for the most recent four week period ending November 28, 2021.(1) For perspective, SPINS data captures consumption data in the Food, Drug and Mass retail channel, which has historically represented approximately 50% of the Company's net sales.
- The overall Frozen Food category grew 7.1% over the period.- The Health & Wellness Frozen Food subcategory grew 12.6% over the period...
Church's Chicken's® Chief People Officer Positions Brand for Category Leadership
Since 2018, Church'sChicken® has been re-establishing its presence as a dominant player in the QSR space, especially within the chicken category. The brand has yielded substantial positive results, with year-over-year growth in sales and profitability continually increasing over the past four years. Now, in the fifth year of its turnaround, Church's raised the bar again with a people-centric approach that extends throughout all aspects of the organization and its global network – beginning first and foremost with employees.
"Essentially, we want people..."
Hormel Foods Reports Record Fourth Quarter Sales And Earnings
Hormel Foods Corporation, a leading global branded food company, today reported results for the fourth quarter of fiscal 2021. The fourth quarter and full year of 2021 contain an extra week as compared to the prior year. All comparisons are to the fourth quarter of fiscal 2020 unless otherwise noted.
EXECUTIVE SUMMARY - FOURTH QUARTER
- Volume of 1.4 billion lbs., up 14%; organic volume1 up 8%- Record net sales of $3.5 billion, up 43%; organic net sales1 up 32%- Operating income of $358 million, up 29%- Operating margin of 10.4%...
U.S. Pet Treat Sales Approach $10 Billion Mark
In its just-released report on Pet Treats and Chews in the U.S., Packaged Facts projects that U.S. retail sales of dog and cat treats will reach $9.87 billion by the end of 2021, after two years of double-digit increases.
Sales growth in treats has consistently outpaced the more mature pet food market and pet supplies in general, and this growth accelerated with the COVID-19 pandemic. “Pet owners spending more time at home with their pets has translates into more opportunities for treat-giving,” notes Packaged Facts analyst...
In-store Retail Sales Rise to Pre-pandemic Levels, as E-Commerce Growth Slows, Reports NPD
The steady, gradual growth of e-commerce dramatically accelerated during the pandemic, elevating the amount consumers spent shopping online to almost equal the amount consumers spent in stores. Now, with brick-and-mortar stores open across the U.S., online revenue growth is slowing down. At the same time, physical store sales have increased, rising to 64% of all retail sales in September 2021, according to The NPD Group.
“Physical stores are more relevant today than they were before the pandemic,” said Marshal Cohen...
Jackson & Partners Innovative Food Products Scoring Big with Retailers, Consumers and Inves
Jackson & Partners, a U.S.-based multinational food and beverage manufacturing and marketing company with nine distinct brands that include beef, seafood, appetizers and plant-based products, announced today that sales for 4th Quarter 2021 are expected to exceed forecasts by 40% due to a large influx in retail and food service contracts, according to Alexander Cook, Executive Vice President and Chief Commercial Officer.
Founded by former MLB and NFL superstar and longtime food entrepreneur Vincent “Bo” Jackson in July 2020, Jackson & Partners’ explosive growth during the pandemic, when...
GrubMarket Raises $200 Million Series E to Accelerate Profitable Growth and IPO Readiness
GrubMarket, a San Francisco-based food technology company with a mission to digitally transform the American food supply chain industry, announced today that it has raised $200 million in a massively oversubscribed Series E funding round from Tiger Global Management, funds and accounts managed by BlackRock, Liberty Street Funds, Apeira Capital, Japan Post Capital, Celtic House Asia Partners, We Capital and Walleye Capital, among other unnamed participants. This round values GrubMarket at over $1.2 billion.
"GrubMarket has already achieved an annual run rate of..."
Aramark Reports Fourth Quarter and Fiscal Year 2021 Results
Aramark today reported fourth quarter and full-year fiscal 2021 results.
"Our fourth quarter and full year results reflected the progress we have made across our business as organic revenue reached 87% of pre-COVID levels. The Company achieved record Net New Business performance across lines of business, geographies, and client size—demonstrating the execution of our strategic growth initiatives, which we are confident will position Aramark to drive higher sustainable growth and create meaningful value for our stakeholders," said John Zillmer, Aramark's Chief Executive Officer...
GrubMarket Raises $145 Million Series E to Accelerate Profitable Growth
GrubMarket, a San Francisco-based food technology company, announced today it raised $145 million in a heavily oversubscribed Series E funding round from funds and accounts managed by BlackRock, Liberty Street Funds, Japan Post Capital, Walleye Capital, Celtic House Asia Partners, INP Capital, Pegasus Tech Ventures, RIVC and Gaingels, among other unnamed participants. This round values GrubMarket at over $1 billion.
"We have experienced an incredible acceleration of growth in the last 12 months – revenues are up more than 300% over last year, reaching a $1...
Kroger's Home Chef Surpasses $1 Billion in Annual Sales
The Kroger Co. and Home Chef announced today the meal solutions brand reached $1 billion in annual sales. Founded in 2013 by Pat Vihtelic, Home Chef merged with Kroger, America's largest grocery retailer, in 2018. Since then, Kroger and Home Chef have advanced the availability of mealtime shortcuts and solutions, offered new product innovations, and continued to transform how customers approach preparing meals.
"Kroger's commitment to being Fresh for Everyone is underscored by our Home Chef products, which help us bring families together in the kitchen with meal options..."
Chipotle Announces Third Quarter 2021 Results
Chipotle Mexican Grill, Inc. today reported financial results for its third quarter ended September 30, 2021.
Third quarter highlights, year over year:
- Total revenue increased 21.9% to $2.0 billion- Comparable restaurant sales increased 15.1%- Digital sales grew 8.6% and accounted for 42.8% of sales- Operating margin was 12.3%, an increase from 6.7%- Restaurant level operating margin was 23.5% 1, an increase of 400 basis points- Diluted earnings per share was $7.18, a 154.6% increase from $2.82. Excluding a $0.16 after-tax net impact resulting from a tax benefit, which...
Halloween Spending Soars as Celebrations Near Pre-Pandemic Levels
Consumer spending on Halloween-related items is expected to reach an all-time high of $10.14 billion, up from $8.05 billion in 2020, according to the National Retail Federation’s annual survey conducted by Prosper Insights & Analytics. Plans to celebrate Halloween are up this year compared with last and are close to pre-pandemic levels.
“Americans plan to spend more than ever to make this Halloween a memorable one,” NRF President and CEO Matthew Shay said. “Retailers have implemented a number of measures, such as bringing in Halloween..."
Subway® Restaurants' Historic Brand Refresh Results in Positive Sales Momentum
Subway® fan brand love is stronger than ever following the launch of Eat Fresh Refresh™, a campaign debuting the biggest menu changes in the brand's history.
Sales momentum has steadily been building since the beginning of 2021, including positive same store sales in Q2 of 2021, versus Q2 of 2019, and the Eat Fresh Refresh launch accelerated this momentum, with August sales the strongest Subway has experienced since 2013.
Overall U.S. restaurants sales in August are up more than 4%, compared to the same period in 2019...
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 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 $34 in March of 2020, average shopping occasion spending has remained elevated at or above that amount through July 2021, according to The NPD Group. This increase is partially due to a general shift toward online purchasing, where average selling prices (ASPs) and the amount spent on each transaction...
Liquid Egg Market to Grow at 6% through 2031 as Demand for Cage-Free Eggs Continues
Fact.MR – A Market Research and Competitive Intelligence Provider: The global liquid eggs market is estimated to total US$ 4.8 Bn 2021. With a favorable demand outlook, the market is projected to grow at a positive 6% CAGR, reaching a valuation of US$ 8.7 Bn by 2031.
Liquid eggs are considered rich sources of protein, iron, phosphorous, and vitamin A & D. Being economically viable, liquid eggs are easily available and preferred for application in pharmaceutical, dietary supplements, and foodservice sectors...
PlantX Announces Q1 2022 Financial Results
PlantX Life Inc. (the "Company" or "PlantX") is pleased to announce its interim unaudited condensed consolidated financial results for the three months ended June 30, 2021. All amounts are reported in Canadian dollars unless otherwise stated.
First Quarter 2022 Highlights- The Company generated gross revenue of $4,089,705 for the three month period ended June 30, 2021, an increase of $3,956,815 from the gross revenue generated in Q1 2021.
- Cost of sales for the three months ended June 30, 2021 was $2,952,592.
- Net loss was $10,283,084 of which $5,937,614...
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...
Red Robin Gourmet Burgers, Inc. Reports Results for the Fiscal Second Quarter Ended July 11, 2021
Red Robin Gourmet Burgers, Inc. reported financial results for the quarter ended July 11, 2021.
- Restaurant revenue of $272.2 million and Restaurant Level Operating Profit as a percentage of restaurant revenue (a non-GAAP metric) of 15.7%;- Second quarter 2021 comparable restaurant revenue increased 66.3% over the same period in 2020, and decreased 2.4% compared to the same period in 2019;- Average weekly sales per fiscal period grew by a total of $2,503 during the second quarter of 2021;- Off-premises sales comprised 32.8%, 63.8% and...
Jack in the Box Awards 16 Franchise Development Agreements To Open 64 New Restaurants
Jack in the Box announced it has awarded 16 franchise development agreements year-to-date through the end of Q3 of Fiscal Year 2021 to build 64 new locations in Arizona, California, Idaho, Texas and Utah. The announcement follows the relaunch of Jack in the Box's franchise development program earlier this year encouraging existing and new franchisees to grow with the brand.
"Relaunching the franchise opportunity has been exciting and was one of our main priorities going into 2021. Over the last year and a half, we've proven to be pandemic-resistant and...
Experts Agree: Livestock Markets Not Broken; Affected by Supply and Demand
With cattle futures reaching new multi-year highs this week, The North American Meat Institute today submitted testimony to the Senate Judiciary Committee underscoring the supply and demand fundamentals of beef and livestock markets and opposing further government intervention that will result in unintended consequences.
“Industry experts, market participants and economists testifying before three different congressional committees in the past two months have found that beef and cattle markets have behaved predictably given supply and demand pressures,” said Julie Anna Potts, President and CEO of the North American Meat Institute...
Pilgrim’s Pride Reports Second Quarter 2021 Results with Growth in Sales
Pilgrim’s Pride Corporation reported its second quarter 2021 financial results.
Second Quarter Highlights
- Net Sales of $3.64 billion, up 29% from prior year.- Consolidated GAAP Operating Income margin of (3.4)% with GAAP Operating Income margins of (10.0)% in U.S., 17.5% in Mexico and 2.3% in Europe. Adjusted U.S. Operating Income margin of 7.8%.- GAAP Net Loss of $(166.7) million. Adjusted Net Income of $153.8 million or adjusted EPS of $0.63.- Adjusted EBITDA of $371.6 million, or...
Yum! Brands Annual Global Citizenship & Sustainability Report Shows Company's Commitment to Growth
Yum! Brands, Inc. released its annual Global Citizenship & Sustainability Report, highlighting the Company’s strategic investments in socially responsible growth, risk management and sustainable stewardship of its people, food and impact on the planet. Yum! and its KFC, Pizza Hut, Taco Bell and The Habit Burger Grill brands made progress in critical areas including climate action, food safety and creating greater equity and opportunity across its system.
“2020 marked a turning point for communities and businesses around the world, as the pandemic deepened existing societal issues and inequalities"...
Papa John’s Loyalty Program, Papa Rewards Reaches Milestone of 20 Million Members
Papa John’s announces that its Papa Rewards loyalty program has reached a milestone with the sign up of its 20 millionth member. The program, which began in 2010, has seen a rapid continuation of growth that began in early 2020 with more than 100 thousand customers joining the program each week. In 2021, the rewards program has contributed to almost half of the brand’s sales.
The Papa Rewards program is an important component to increased repeat sales and customer loyalty for the Papa John’s business. The program enables the brand to engage customers at a high frequency; providing targeted offerings that can drive more transactions and...
Instacart Releases Plant Power Trends Report Examining the Consumer Migration to Plant-Based Items
Instacart released its "Plant Power" report, a new data-driven examination of the mainstream consumer migration to plant-based alternatives. According to Instacart sales data, one in three Instacart customers has purchased a plant-based meat or milk product. Further, according to a recent Instacart survey conducted by The Harris Poll, when asked about the grocery and food habits adopted during the COVID-19 pandemic that they'll keep for the long term, 30% of survey respondents said they plan to continue eating healthier by preparing lighter, plant-based meals.
"Plant-based food has grown from a niche category into a grocery staple over the past two years," cites Laurentia Romaniuk, Instacart's Trends Expert and Senior Product Manager. "Searches for terms like...
Urner Barry Releases May Soy & Wheat Report
Urner Barry Releases May Pulse Protein Report
Urner Barry Releases April Emerging Plant Protein Report
PLANT PROTEIN: Get to Know Players in the Plant Protein Market: Fat Badger Bakery
Urner Barry Releases April Soy & Wheat Report