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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...
Consumers Take Grilling and Outdoor Cooking to the Next Level
Eager for a change of pace during the pandemic, cooking outside has become a go-to activity for many consumers, and it extends beyond traditional grilling, or even the traditional grilling season. Consumers spent more than $4.9 billion on grills, smokers, camping stoves, accessories, and fuel in 2020, according to new Enhanced Retail Tracking Service information on the home improvement industry from The NPD Group, which blends retailer point-of-sale data with insight from NPD’s receipt-based Checkout information and additional data assets combined with advanced modeling.
“The need to cook more meals at home combined with the desire to experiment with new ways to create those meals helped fuel growth for almost all types of grills,” said Joe Derochowski, home industry advisor at NPD. “Layer on our cravings to be less...
Beyond Meat Announces Major Retail Expansions Throughout Europe
Beyond Meat announced significant product distribution expansion within thousands of European retail locations this spring. As Beyond Meat has grown its retail presence in the region, the European plant-based foods market has seen aggressive growth with sales increasing by 49% over the last two years. Beyond Meat’s commitment to making products utilizing simple, plant-based ingredients without GMOs has enabled the brand to rapidly expand product distribution throughout the continent.
Beyond Meat products are available at approximately 122,000 retail and foodservice outlets in over 80 countries worldwide. The new product distribution in Europe includes...
Plant-Based Food Sales Surpass $7 Billion, Sales Up 27% in 2020
According to the Plant Based Foods Association (PBFA), U.S. retail sales of plant-based foods continued to increase by double digits in 2020, growing 27% and bringing the total market value to $7 billion. This sales growth was consistent across the country, with more than 25% growth in every U.S. census region.
In the past two years, plant-based food sales have grown 43%, which is nine times faster than total food sales. In 2020, about 57% of all U.S. households purchased plant-based foods, up from 53% in 2019 totaling 71 million households.
PBFA also found that the value of plant-based meat, while the second-largest plant-based category, hit $1.4 billion in 2020. That represents sales growth of 45% from 2019. The plant-based meat category grew twice as fast as...
Technomic Reports Top 500 Chain Restaurant Sales Fell by More than 8% in 2020Technomic just released one of the most highly anticipated reports, the 2021 Top 500 Chain Restaurant Report, which includes expert findings and insights into the sales performance of U.S. chain restaurants from 2020. The report is built using decades of historical data with detailed analysis into the foodservice industry and overarching trends, including the impact of COVID-19 and performance rankings, as well as annual sales and unit counts by chain and segment.
“Disrupted by the COVID-19 pandemic, the Top 500 chain restaurants saw sales fall by $27 billion in 2020, decreasing by more than 8% compared to 2019,” explains Kevin Schimpf, senior research manager at Technomic. “As many small chains and independent restaurants struggled to...
US Foodservice: Expect an Even Bigger Lift From the Third Stimulus
Checks under the USD 1.9 trillion American Rescue Plan, the third and largest stimulus package since the pandemic outbreak, began rolling out mid-March. The US government expects nearly 85% of all US residents – adults, children, seniors – to receive direct payments of up to USD 1,400 based on household income. The ongoing stimulus is substantially higher than the last two in April and December 2020, which included direct payments of USD 1,200 (plus USD 500 per child) and USD 600 (plus USD 600 per child), respectively.
Recipients Spent 10% to 15% More in Restaurants Following the Last Two Rounds of Stimulus
Credit/debit card transaction data from Earnest Research, a data analytics firm that tracks the US consumer economy through foot traffic, credit/debit card spend, retail pricing, and healthcare data, shows...
Challenges Facing Foodservice Industry in 2020 Spurred Significant Growth in Off-Premises Services
The COVID-19 pandemic shook the world in 2020, leading to one of the steepest declines the global foodservice industry has experienced in recent history, according to global information company The NPD Group.
The pandemic interrupted years of growth in foodservice, causing a 20% drop in global sales and a 21% decline in total visits in 2020, to 958 billion euros ($1.157 trillion USD).
While mandated lockdowns restricted dine-in options, consumer demand for restaurant food was not abated, leading to unprecedented growth in...
Urner Barry Releases October Emerging Plant Protein Report
Urner Barry Releases October Soy & Wheat Report
Urner Barry Releases October Pulse Protein Report
Urner Barry Releases September Emerging Plant Protein Report
Urner Barry’s Consulting Division to Launch Egg Market Forecasting Report