December 14, 2018

Today's News Summary:

Headlining the news today, Costco Wholesale Corp.'s sales surged in its latest quarter, as the warehouse chain continued to benefit from a strong economy and shopper interest in everything from bulk toilet paper to discounted branded clothes. Same-store sales, which the company defines as those at stores open for more than a year, grew 8.8% in the quarter, on par with what analysts expected and driven by an 11% comparable-sales increase in the U.S. Traffic rose 4.9% in the quarter and e-commerce sales were up 26%.

Starbucks Corp. plans to expand coffee delivery across the U.S. with UberEats as part of a broader strategy to try to reach more customers. Starbucks began testing delivery in Miami with UberEats, a part of Uber Technologies Inc., in September and will begin offering it for nearly a quarter of its more than 8,000 U.S. company-operated stores early next year.

Also, Instacart and Whole Foods Market are calling it quits after five years. The San Francisco-based grocery delivery service said it is winding down its relationship with the grocer and has already started to scale back its in-store shopper operations within Whole Foods locations. Instacart currently has 1,415 in-store shoppers who pick up orders across 76 Whole Foods stores. Some 243 will be impacted beginning February 10, 2019, and, during the following months, the company expects to ramp down all remaining Whole Foods in-store shopping operations.

Vermont Packinghouse is recalling approximately 10,828 pounds of raw intact bone-in beef quarters from cattle identified as being over 30 months of age because the products may contain specified risk materials, specifically vertebral column, the USDA and FSIS announced. Find out which products are subject to recall here.

Additionally, the pullet placement break down's most recent figures bring with them more questions than answers for the near-term trade environment. Read Urner Barry's latest pullet chicks analysis here.

Finally, Urner Barry's Reporter Winter 2019 edition has been released. Read the latest Urner Barry Reporter Magazine here.

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By Linda Lindner

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