Foreign-Owned Agricultural Land in the US Increases

From 2022 to 2023, there was a 1.58-million-acre increase in foreign-held agricultural land, according to Farm Bureau. In the US, 45.85 million acres of agricultural land were held by foreign investors in 2023, representing 3.61% of total privately held agricultural land, according to the USDA’s Agricultural Foreign Investment Disclosure Act (AFIDA) report which shows an upward trend of land ownership by foreign entities across the nation. 

Since 2010, reports of foreign-held agricultural land have increased. This expansion is 21 million acres, or an area larger than South Carolina...

GSF Appoints Everton Harris as Corporate Senior Vice President and Chief Human Resources Officer

Golden State Foods (GSF), one of the largest diversified suppliers to the foodservice industry, is pleased to announce the appointment of Everton Harris as corporate senior vice president and chief human resources officer, and the promotion of Campbell Cooper to corporate senior vice president and chief customer and strategy officer.

Based in Irvine, California, Harris joined GSF in December 2024 to serve as a strategic business partner and trusted advisor to the chief executive officer, senior executive team and board of directors...

Capriotti's Sandwich Shop Debuts First Location in New Jersey

Capriotti's Sandwich Shop (Capriotti's), known for its award-winning, hand-crafted cheese steaks, turkey subs and more, has announced its debut in New Jersey with opening of a new location in Princeton. The shop is slated to open in the Princeton Shopping Center, at 301 N Harrison Street Unit 470 on Jan. 21st, 2025. Capriotti's introduces local communities across the U.S. to the brand's 40-year-old tradition of slow-roasting whole, all-natural turkeys in-house, and other one-of-a-kind sandwiches made using the freshest ingredients...

ANALYSIS: New Year, Same Challenge: Bird Flu Continues to Wreak Havoc on the U.S. Shell Egg Market

The U.S. shell egg market saw its fifth consecutive week of increases as of Friday, driven by robust retail demand and ongoing supply constraints tied to the spread of highly pathogenic avian influenza (HPAI). Earlier in the week, moderating trade levels hinted that the market might be nearing its peak. However, the detection of two new bird flu cases, affecting approximately 3 million layers, dashed hopes of stabilization and, instead, accelerated market gains.

Retail demand has remained unusually...

The Retail Rundown: Weekly Protein Recap; CPI Update

Seafood leads protein advertising for a third consecutive week, accounting for nearly 31% of total ad space. Pork follows with nearly 23% and beef makes up 21%. Chicken represents 19% of the advertising share, while eggs capture less than 1%.

The seafood category shows mixed price trends year-over-year (YOY), with fresh cod fillets discounted to $8.37 per pound last week—down 53 cents from the previous year. Prices for catfish and tilapia remained steady YOY, each averaging about $6.60 discounted...

USDA’s Third New Ruling: Aimed to Help Contract Chicken Farmers

As part of the Packers & Stockyards Act of 1923 which sought to even the agricultural playing field for the meat and animal protein industry, the USDA will now give contract chicken farmers better insight into payment rates for their birds, according to a press release. 

This is the third installment in a series of regulation reforms under the Biden-Harris administration which is intended to level the playing field, bring stability and fairness, and should provide information about capital improvements farmers must make to keep and/or renew...

Panera Bread Announces New Leadership Additions to Marketing and Culinary Teams

Panera Bread, a leader and pioneer in the fast casual restaurant industry, today announced two new leadership appointments in marketing and culinary with the addition of Robin Seward as Senior Vice President, Brand and Integrated Marketing, and Scott Uehlein as Vice President, Culinary. Both leaders joined Panera in early January and report to Chief Marketing Officer Mark Shambura.

Robin Seward joins Panera as Senior Vice President, Brand and Integrated Marketing. A seasoned leader and brand strategist, Seward oversees all strategic marketing planning, including consumer insights, product...

Hormel Foods Chairman, President and CEO James P. Snee to Retire at End of Fiscal Year

Hormel Foods Corporation, a Fortune 500 global branded food company, today announced that James P. Snee, chairman of the board, president and chief executive officer, will retire at the end of fiscal 2025, following a distinguished 36-year career with the company.

The Board has formed a search committee and will benefit from its existing CEO-succession process to identify Snee's successor. Internal and external candidates are being considered. Snee has agreed that once his successor is named...

GAO Submits FDA Recommendations to Congress for Increased Inspection Efforts

On January 8, 2025, the U.S. Government Accountability Office (GAO) released its Q&A report to Congress, titled “Food Safety: FDA Should Strengthen Inspection Efforts to Protect the U.S. Food Supply.”

FDA inspections fail to meet mandated annual targets

The U.S. Food and Drug Administration (FDA) is responsible for ensuring the safety of nearly 80% of the nation’s food supply including fruits, vegetables, processed foods, and most seafood.

Since 2007, the FDA has been on the GAO's High-Risk List, which highlights 37 areas across the federal government that are...

The International Egg Commission (IEC) rebrands as the World Egg Organisation

The International Egg Commission (IEC) has rebranded as the World Egg Organisation (WEO), a reflection of the organisation’s commitment to evolving alongside the global egg industry and leading the way to a successful collective future.

The new name and identity mark a significant milestone in the organisation’s history; modernising their image, strengthening their global presence, and better aligning with their mission to support and promote the egg industry worldwide.

“This rebrand to the World Egg Organisation represents more than a name change...

1 in 6 Adult Americans Replaced Meals With Snacks in 2024: Euromonitor International

One in six adult residents of the United States is replacing their daily meals with snacks, data analytics company Euromonitor International has revealed

According to Euromonitor International’s World Market for Snacks 2024 report, 18% of adult Indians, 17% of adult Americans and 13 % of adult Britons have been replacing their meals with snacks, as convenience-oriented lifestyle changes favour snacking and consumer purchases continue to be impacted by economic uncertainty.

Carl Quash III, head of snacks at Euromonitor International, said: “Consumers have been under...

European Shell Egg Market Concerned by New Avian Influenza Outbreaks in Italy and France

Italy reported an outbreak of the severe H5N1 avian influenza virus late last week. It was the first outbreak in Italy for several months, according to the World Organisation for Animal Health (WOAH).   

The outbreak occurred on a large commercial layer farm in the northeast believed to house up to 1 million birds, a market source told Expana.  

The same market source said that now that H5N1 avian influenza is back in Italy, coupled with the spread of other livestock and poultry...

ILA and USMX Avoid Work Stoppage with New Six-Year Contract

The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) reached a tentative agreement on all items for a new six-year Master Contract on January 8, per a joint press release.

The two sides agreed to continue to operate under the current contract until the union can meet with its full Wage Scale Committee and schedule a ratification vote, and USMX members can ratify the terms of the final contract, per the joint statement.

“We are pleased to announce that ILA and USMX have reached a...

Teamsters and Costco at an Impasse Ahead of Contract Deadline 

The International Brotherhood of Teamsters has announced that negotiations with Costco reached an abrupt standstill on January 7, 2025.

Tension ignited with parties after Teamsters filed unfair labor practice charges against the company, citing incidents such as the expulsion of union representatives, harassment of employees wearing union buttons, removal of union literature, and changes to locks on union bulletin boards.

After weeks of discord, Costco rejected several key proposals put forth by the Teamsters, including vital language concerning seniority, inclement weather policies, paid family leave, bereavement policies...

CME Group Announces Trading Hours for U.S. National Day of Mourning to Honor Former President Carter 

CME Group, the world's leading derivatives marketplace, has announced that it will honor the passing of former President Jimmy Carter by implementing an early close for agricultural, equity and interest rate markets on the National Day of Mourning on Thursday, January 9, 2025.

U.S. equity markets will be open until 8:30 a.m. CT on January 9. All U.S. equity options expiring on January 9 will be moved to expire on January 8.

Interest rates and agricultural markets... 

Einstein Bros. Bagels Celebrates National Bagel Day with Free Egg Sandwich

This National Bagel Day, everyone who's ready to give up a New Year's resolution that has them eating cardboard-tasting breakfast cereal can now embrace their cravings. Beginning January 15, Einstein Bros. Bagels Rewards members can 'give it up for Einstein Bros.' with a Free Egg Sandwich with purchase when ordering ahead in the app or online this month.

"Studies show that nearly half of New Year's resolutions are abandoned by the end of January," said Hector Briones, Chief Marketing Officer at Einstein Bros. Bagels. 

Cal-Maine Foods Posts $954.7M in Q2 Sales, Sets New Records Amid Expanding Operations

Cal-Maine Foods, the nation's largest producer and distributor of fresh shell eggs, has announced its financial results for the second quarter of the 2025 fiscal year. The company reported net sales of $954.7 million, marking a significant 82% increase compared to the same period in 2024. This growth was driven primarily by higher prices and strong demand for its products. This quarter the company also set a quarterly record for total dozens sold and specialty dozens sold... 

New Report: Walmart Increasing in Popularity Amidst Rising Prices

According to Packaged Facts’ new report The Walmart Grocery Shopper: Consumer Insights and Competitive Strategies, consumers have continued to be worried about the rising cost of food on top of already-high prices after excessive inflation hit consumer food budgets in 2022. Rising prices can be especially concerning for low-income households due to not having a lot of disposable income and families with children since they have more mouths to feed.

Higher costs have led to many consumers changing their thinking and behavior, including measures such as...

The Retail Rundown: Post-Holiday Slowdown Influences January Spending 

January typically marks a slowdown in consumer spending as households transition from the holiday season to their regular routines.

Early in the month, retailers experience a short-lived boost in sales, driven by replenishment efforts after the holiday food rush. As schools reopen and guests leave, families restock essentials for breakfast, lunch, and weeknight meals.

This restocking coincides with New Year’s resolutions, especially those focused on healthier eating. Consequently, shoppers gravitate toward the perimeter of the stores where fresh items, including produce, proteins, and dairy, are featured. Although retail...

USDA Imposes Animal Import Restrictions on Belize Due to Screwworm Threat

The United States Department of Agriculture's (USDA) Animal and Plant Health Inspection Service (APHIS) issued a statement on January 7, 2025 regarding live animals originating from or transiting Belize.

Based on the confirmation of New World screwworm in cattle, restrictions have been imposed, effective January 3, 2025 until further notice on the importation of animal commodities.

The restriction omits the importation of dogs who carry a certificate confirming the animal has been inspected for screwworm within 5 days prior to its shipment to...

Panera Brands Announces Leadership Change, Appoints Paul Carbone as Interim CEO

Panera Brands, one of the world’s largest fast-casual restaurant platforms and the parent company to Panera Bread and Caribou Coffee, has announced a change in leadership.

José Alberto Dueñas, who served as CEO of Panera Bread for just over a year and a half, is stepping down from his role.

During his tenure, Dueñas earned praise from Board Chair Patrick Grismer for his efforts in revitalizing the company’s menu, improving business margins, and strengthening organizational structure. Grismer noted that Dueñas successfully positioned the...

Vertical Cold Storage Opens 10th Facility in Kansas City

Vertical Cold Storage, in collaboration with Platform Ventures, a real estate investment firm, has officially launched its 10th facility, a state-of-the-art multi-distribution center in Kansas City.

The facility is strategically located at 14820 Cleveland Ave, Kansas City, MO, next to the Canadian Pacific Kansas City (CPKC) intermodal terminal and within 30 miles of key BNSF, Union Pacific, and Norfolk Southern rail terminals.

Spanning over 311,000 square feet, the new center is expected to create more than 100 full-time jobs. Equipped with...

ILA and USMX Set to Resume Talks as Port Strike Threat Looms

Talks between the International Longshoremen’s Association (ILA), the union representing over 45,000 dockworkers from Maine to Texas, and the United States Maritime Alliance (USMX) are set to resume on January 7.   

ILA and the USMX reportedly met in private on January 5 as both sides try to reach an agreement over the primary automation issue that has been raised since talks last stalled in November, according to industry publication FreightWaves.

The contract between the ILA and USMX, which represents ports and ocean carriers, expires on January 15...

Top 10 Stories from 2024 on Expana

It was a big year for the food and agriculture industry. Below are some of the biggest headlines that sent shockwaves through the trade... 

ANALYSIS: US Egg Prices Soar as Production Hits Eight-Year Low Due to HPAI Outbreaks 

May 30, 2024: “Over the past two weeks, U.S. shell egg prices have soared by 45%, largely due to the ongoing spread of Highly Pathogenic Avian Influenza (HPAI), more commonly known as bird flu. The bird flu has been spreading across the US since February 2022—though not consistently..."

Americans Turn to Frozen and Dairy Aisles to Keep Resolutions

As millions of Americans begin tackling their New Year's resolutions today, new research reveals the frozen and dairy aisles are becoming important destinations for achieving health, budget and convenience goals. According to a survey commissioned by the National Frozen & Refrigerated Foods Association (NFRA), 66% of Americans say pre-portioned ingredients help them achieve their health goals, while 75% cite cost savings as a top reason for choosing the frozen and refrigerated aisles - signaling a continued shift in shopping and eating habits...

Sodexo to Launch 100 ‘Food Hive’ Community-Oriented Campus Convenience Stores by 2026

Sodexo, a leader in foodservice for campuses across the U.S., announces the company’s goal of opening nearly 100 “Food Hive” markets at colleges nationwide by 2026. Sodexo’s current goal of opening approximately 30 locations during the 2024 – 2025 academic year is underway. Food Hive is Sodexo’s lightning-fast and cashless payment convenience experience with a community focus, supporting local partners and minority- and women-owned businesses by featuring their products and other healthy options for students.

“We know that Gen Z prefers shopping...

Arcos Dorados and McDonald’s Renew Master Franchise Agreement for 20 Years

Arcos Dorados Holdings Inc. (NYSE: ARCO) (“Arcos Dorados” or the “Company”), Latin America’s largest restaurant chain and the world’s largest independent McDonald’s franchisee announced that, on December 30, 2024, it renewed its Master Franchise Agreement (“MFA”) with McDonald’s (NYSE: MCD).

he parties have finalized a new, 20-year MFA, that became effective on January 1, 2025, and replaced the previous MFA. The new MFA also includes a renewal option, at McDonald’s discretion, for a new, 20-year MFA, beginning January 1, 2045...

White Castle's All-Day Breakfast Menu Brings Back French Toast Sliders to Kick Off 2025

White Castle, America's first fast-food restaurant and home of the real all-day breakfast menu, is ready to take taste buds on a delectable journey with the limited time return of the French Toast Slider. Because White Castle isn't afraid to push the boundaries, this sweet treat, like all breakfast menu items, can be enjoyed morning, noon, and even at Night Castle!

The French Toast Slider is a Slider sized Cinnamon Swirl French Toast sandwich layered with a fresh cracked egg, American cheese...

Maersk Advises Cargo Removal as Threat of US Port Strikes Persists

Major shipping firm Maersk has advised its customers to remove cargo from US East and Gulf Coast ports, in preparation for potential strike action by port workers in mid-January.

Negotiations between the International Longshoremen’s Association (ILA) union and the employers’ representative the United States Maritime Alliance (USMX) on a new contract for port workers appear to have stalled, with the deadline of January 15, 2025, looming.

In a customer advisory statement released on December 30, Maersk said, “If no agreement is reached by [January 15], a coast-wide...

Restaurants and Grocers Gear Up for 2025: A Focus on Tech, Value, and Wellness

Against the backdrop of a turbulent economic landscape, 2024 saw the food industry grappling with rising inflation, geopolitical uncertainties, and the US presidential election's impact on key global commodity markets. For consumers, tighter budgets drove a heightened focus on value, with many turning to private-label brands, budget-friendly meal solutions, and bulk purchasing. Simultaneously, the demand for transparency, sustainability, and innovation continued to shape purchasing decisions, even as affordability took center stage. 

As we look ahead to 2025, value remains...

Premium Brands Holdings Corporation Announces Strategic Transactions

Premium Brands Holdings Corporation (TSX: PBH), a leading producer, marketer and distributor of branded specialty food products, announced today that it has completed the following strategic transactions:

- The acquisition of NSP Quality Meats (NSP), a cooked protein and deli meats manufacturer with plants located in Oklahoma, Texas and Missouri

- The acquisition of Casa Di Bertacchi (Casa), a manufacturer of branded and private label cooked protein products with a plant in New Jersey

- The acquisition of Italia Salami (Italia), a manufacturer of authentic dry cured Italian salami with a plant in Ontario...

Billions in Aid Approved for US Farmers

As a government shutdown loomed, the US Congress passed spending legislation named the American Relief Act which was signed by President Biden on December 21, 2024. For agriculture and food-related commodities, this legislation contains one-time economic assistance payments, disaster relief payments, as well as partial funding from the rolled-over farm bill.

Part of the funding approved was $10 billion to support some American farmers across the nation. Within 90 days, economic assistance payments will only be dealt to farmers of eligible commodities like corn, soybeans, wheat, rice, canola, mustard...

HelloFresh Introduces Resolution-Approved Offerings for Easy, Nutritious Home Cooking

Just in time for New Year’s resolutions, HelloFresh, the world’s leading meal kit company, is introducing wholesome new offerings for home cooks who want easy, homemade meals with little to no prep–especially on their busiest days. Whether choosing from a delicious meal ready in three minutes with no cooking required, or a simplified recipe that involves just five minutes of prep and minimal cleanup, getting a nutritious, quality meal on the table has never been easier or more convenient.

HelloFresh Unveils Delicious Ready Made Meals Served in Three Minutes

For those who want a flavorful, chef-crafted meal fast, the heat-and-eat Ready...

No USDA Market Reports on Christmas Eve Due to Federal Holiday

President Joe Biden recently issued an executive order declaring Christmas Eve, December 24, 2024, as a holiday for federal employees, with exceptions for those in national security, defense, or other public need. 

Under Donald Trump's previous presidency, federal employees were given Christmas Eve off in 2018, 2019, and 2020, while President Barack Obama designated December 26, 2014, as an additional holiday. 

As the USDA observes Christmas Eve this year, no USDA market reports will be released tomorrow. However, Expana's market assessments and...

PODCAST: Agri-Food for Thought Ep 20 - Christmas Food Trends

In this episode, we look at the cost of commodities for Christmas Dinner 2024. Featuring special guests from the beef and cattle sector, analyzing trends in this key category as we head into the new year. 

From Jamie and Simon, thank you to all our listeners for joining us in 2024, we can't wait to show you what we have in store for 2025! 

Urner Barry by Expana Closed Wednesday, December 25, 2024

Urner Barry by Expana will be closed on Wednesday, December 25 in observance of Christmas. Coverage will resume Thursday, December 26. 

Happy Holidays!

The Shift to Cage-Free Egg Production in the EU

The European Cage-Free Egg Commitment marks a transformative era in animal welfare and corporate responsibility within the food industry. This movement, fuelled by rising consumer demand for ethical practices and advocacy from animal rights organizations, is redefining egg production across Europe. Leading retailers, producers, and food service providers have pledged to eliminate caged systems, setting a new standard for sustainability and ethical agriculture.

The European Union has achieved substantial milestones in the transition to cage-free egg production, with over 50% of laying hens...

Threat of Further US Port Strikes Looms Over International Shipping

Ongoing discord between the International Longshoremen’s Association (ILA) union and the employers’ representative the United States Maritime Alliance (USMX) threatens to further disrupt international freight, as the potential for renewed strike action at US ports looms ahead of a mid-January contract negotiations deadline.

Major shipping firm Maersk issued a statement on December 19  advising customers to prepare for further strike action, “It is possible that the ILA will again begin a coast-wide strike on January 16. As the January 15 deadline approaches, we recommend that customers make...

Potential Impact of a Government Shutdown on USDA Reports

With a potential government shutdown looming, U.S. Department of Agriculture (USDA) data on livestock and meat markets, along with numerous other reports and statistics, may become unavailable until further notice.

As Congress races to reach an agreement before the midnight deadline to avoid a shutdown, industry stakeholders are increasingly aware of the importance of maintaining access to unbiased market intelligence to operate effectively. 

In the event of a shutdown, USDA food inspectors and federal animal care workers will remain on duty, but most other federal employees will not be at work...

US Department of Labor Announces Settlement with Amazon 

The U.S. Department of Labor today announced that the Occupational Safety and Health Administration and Amazon have entered into a corporate-wide settlement to help better protect employees from hazardous working conditions leading to serious lower back and other musculoskeletal disorders at Amazon facilities. The settlement agreement resolves the department’s multiple ergonomics cases against Amazon.com Services LLC, in the first major multi-site investigation brought by OSHA in over a decade.

The parties had been scheduled to begin trials in 10 cases before the Occupational Safety and...

Darden Restaurants Report Strong Q2 Results with 6.0% Sales Growth

Darden Restaurants reported a 6.0% increase in total sales for Q2 which ended November 24, reaching $2.9 billion, with same-restaurant sales up 2.4%.

Olive Garden generated $1.292 billion in sales, LongHorn Steakhouse brought in $710.1 million, and the company’s Fine Dining segment earned $306 million.

In addition, Darden’s Board of Directors declared a quarterly cash dividend of $1.40 per share on the company’s outstanding common stock.

"We had a strong quarter and I am pleased that our four largest brands...

FDA Updates “Healthy” Food Definition for US Food Products

Officials from the FDA updated the organization’s definition of the word “healthy,” according to an FDA constituent update. 

A food product’s packaging can bear the word “healthy” if the food adheres to specified limits for saturated fats, sodium, and added sugars. Additionally, “healthy” food contains “at least one of the food groups or subgroups (such as fruits, vegetables, fat-free and low-fat dairy, etc.) recommended by the Dietary Guidelines,” according to the FDA’s new definition. 

For example, a “healthy” grain product should not contain more than 5% saturated fat...

Teamsters at Sysco Houston Authorize Strike

Over 430 drivers, warehouse workers, and mechanics represented by Teamsters Local 988 have voted overwhelmingly to authorize a strike after Sysco failed to present an acceptable contract offer.

"Nothing our members are demanding is unreasonable," said Robert Mele, President of Local 988. "These workers want what everyone in this country deserves: fair wages, quality health care, and a secure retirement. If Sysco refuses to get serious at the bargaining table, we are ready to hold them accountable for their greed."

The Teamsters represent more than 10,000 workers at Sysco...

Michael C. Creedon Jr. Elevated to Permanent CEO of Dollar Tree After Successful Interim

Dollar Tree has announced the appointment of Michael C. Creedon, Jr as its permanent Chief Executive Officer. The board agreed unanimously on this promotion citing that Creedon had earned their trust and respect and that they had confidence in his ability to guide the company’s growth and success.

Creedon joined Dollar Tree in 2022 as Chief Operating Officer. He was appointed interim Chief Executive Officer in November succeeding Rick Dreiling and has since led more than 200,000 associates and more than...

EU Retail Egg Market Thrives Amid Festive Season Surge

With Christmas just a few days away, the industrial egg market has slowed considerably, with demand expected to remain subdued until mid-January. Several breaking stations have taken advantage of this lull to perform routine maintenance on their machinery.

In recent weeks, industrial shell egg prices have been slowing down, following their peak in late November. Currently, values for cage egg averages 2.05 €/kg, reflecting a marginal drop of 0.04 €/kg from the previous week. However, prices are still 24% higher than this time...

ANALYSIS: US Shell Egg Prices Shatter Records Amid Bird Flu Losses, Strong Holiday Demand

US shell egg prices have surged to new all-time highs, fueled by a potent combination of avian flu-related production losses and heightened retail demand throughout the holiday baking season. Expana’s benchmark Midwest large quotation climbed to $5.47 per dozen on Tuesday, narrowly edging past the previous record of $5.46 set in December 2022.

The ongoing spread of Highly Pathogenic Avian Influenza (HPAI) has intensified since mid-October, claiming approximately 17 million layers and pullets over the past two months...

The Retail Rundown: Robust Retail Spending This Holiday Season

Retail spending has been robust this year, with recent data released by the U.S. Census Bureau indicating strong retail sales as the holiday season kicked off in November.

According to the Census Bureau, overall retail sales in November rose 0.7 percent month-over-month (MOM) and increased 3.8 percent year-over-year (YOY) In comparison, October saw gains of 0.5 percent MOM and 2.9 percent YOY.

“Job and wage gains, modest inflation and a heathy balance sheet have led to solid holiday spending," said National Retail Federation Chief Economist Jack Kleinhenz...

Farm Bureau Congratulates Rep. Angie Craig on Agriculture Committee Leadership Role

American Farm Bureau Federation President Zippy Duvall commented today on the election of Rep. Angie Craig to be ranking member of the House Agriculture Committee.

“Farm Bureau congratulates Rep. Angie Craig on her nomination to serve as the next ranking member of the House Agriculture Committee. Rep. Craig has a long history of working in a bipartisan manner to advance the needs of America’s farmers and ranchers.

“Her leadership is needed now more than ever, as farmers face economic headwinds including inflation, high supply costs and...

Ark Restaurants Announces Financial Results for the Fourth Quarter and Fiscal Year Ended 2024

Ark Restaurants Corp. today reported financial results for the fourth quarter and fiscal year ended September 28, 2024.

The Company’s fiscal year ends on the Saturday nearest September 30. The fiscal years ended September 28, 2024 and September 30, 2023 both included 52 weeks and the quarters ended September 28, 2024 and September 30, 2023 both included 13 weeks.

Financial Results

Total revenues for the 13 weeks ended September 28, 2024 were $43,406,000 versus $44,400,000 for the 13 weeks ended...

Performance Food Group Company Announces Executive Leadership Team Changes

Performance Food Group Company (PFG) is pleased to announce its board of directors has approved two changes to PFG’s leadership team. Effective Jan. 1, 2025, Scott McPherson has been promoted to President & Chief Operating Officer (COO), while Craig Hoskins will transition into the newly established position of Executive Vice President (EVP) & Chief Development Officer.

In his new role, McPherson will continue overseeing PFG’s three business segments: Foodservice, Convenience and Vistar. He will focus on the company’s growth and will be responsible for all aspects of these businesses...

Ahold Delhaize USA Names Greg Finchum as President of Food Lion

Ahold Delhaize USA has announced that Food Lion executive Greg Finchum, currently Executive Vice President, Retail Operations, will assume the role of President, in May 2025.

The appointment comes after Meg Ham, President, Food Lion, announced that she will retire in May 2025. Finchum joined Food Lion in 1989 and has been in his current role for more than a decade. He is a proven leader in delivering consistent sales growth and strong financial performance. Additionally, he has an outstanding track record of building strong...

TD Bank Survey: Restaurant Industry Anticipates Bright 2025 with Tech and M&A at the Forefront

A survey conducted by TD Bank at the 2024 Restaurant Finance and Development Conference indicated that optimism has returned to the restaurant franchise industry after years of challenges.

The TD Bank poll collected insights from 175 restaurant operators and finance professionals as they look ahead to 2025. Alongside the optimistic outlook, TD Bank noted that the adoption of digital and mobile ordering, menu creativity and higher expectations around AI were also key findings from the survey...

ANALYSIS: EU Free-Range Egg Prices Remain Firm Despite Broader Shell Egg Market Weakening

Following 16 weeks of rising prices, industrial shell egg prices in the EU saw a relief in the first week of December, particularly in the Cage and Barn egg categories, which saw significant price drops. However, Free-Range eggs remained an exception, with market participants continuing to face challenges in sourcing them. Despite the typical slowdown in buying activity as the retail and manufacturing sectors wrap up their year-end buying, Free-Range egg prices have remained resilient, holding steady at a...

Costco Refuses to Accept 98 Percent of Teamsters Proposals

Yesterday, Costco rejected or refused to accept nearly all Teamsters' proposals, including critical language on seniority, inclement weather, paid family leave, bereavement policies, sick time, and safeguards against surveillance. By dismissing approximately 98 percent of the proposed provisions, the wholesale giant has signaled a troubling unwillingness to bargain in good faith and is taking an aggressive anti-union stance.

"The clock is ticking, and instead of engaging seriously at the bargaining table, Costco continues to waste time with surface bargaining," said...

Kroger Reiterates Its Commitment to Lower Prices and Initiates New $7.5B Share Buyback Program

The Kroger Co. today terminated its merger agreement with Albertsons after the U.S. District Court for the District of Oregon granted the Federal Trade Commission's request for a preliminary injunction to block the proposed merger. After reviewing options, the company determined it is no longer in its best interests to pursue the merger.

"Kroger is moving forward from a position of strength. Our go-to-market strategy provides exceptional value and unique omnichannel experiences to our customers which powers...

Toast’s Q3 2024 Trend Report Reflects Increased Menu Prices and Restaurant Reservations

On December 10, 2024, restaurant software company Toast released its Q3 2024 Restaurant Trends Report, which included a market analysis based on data collected from various restaurants currently utilizing Toast’s digital restaurant platform.

Toast has been serving approximately 127,000 restaurants since September 30, 2024, providing a variety of technological services through its cloud-based platform including point of sale, payment processing, bookkeeping, online ordering, payroll, team management, and other features.

According to Toast data, restaurant reservations increased year over year (YOY) by 11% on Mondays and Tuesdays and...

ANALYSIS: Main Drivers Behind EU Retail Egg Prices in Q4 2024

According to the European Commission, medium/large egg prices averaged €2.28 per kilogram during October and November 2024, and are currently at €2.43 per kilogram, marking a 23.07% quarter-on-quarter increase and a 6.7% year-on-year rise. The surge in egg prices during Q4 2024 can be attributed to a combination of factors.

Firstly, the seasonal demand typical of Q4 has had an immediate effect on prices. This seasonal increase is particularly significant in a market where the EU faces limited self-sufficiency...

The Retail Rundown: Seasonal Trends for Ribs vs. Hams

With Christmas just two weeks away, this week’s retail rundown takes a closer look at two traditional holiday centerpieces: rib roasts and hams. These festive favorites have followed differing paths in the wholesale markets this year, potentially influencing their retail performance in the lead-up to the year-end celebrations.

The wholesale rib market began its seasonal ascent in the third quarter, gaining traction in early August. From August 1 through December 10, prices surged by 42 percent, far surpassing the 5-year average increase of 17 percent for the same period...

Tuesday: Costco Teamsters to Rally as Contract Negotiations Begin

Teamsters General President Sean M. O'Brien, Teamsters General Secretary-Treasurer Fred Zuckerman, and hundreds of rank-and-file Costco Teamsters will rally in Long Beach, Calif., on Tuesday, December 10, as they gear up for the start of national negotiations impacting 18,000 Costco workers nationwide.

Earlier this week, the Teamsters were forced to file charges against Costco for blatantly violating federal labor law and the current national master agreement. The company's conduct was a calculated effort to undermine workers' rights and disrupt the collective...

USPOULTRY Releases Updated Report of Antibiotic Stewardship Within US Poultry Production

Updated research, supported by the U.S. Poultry & Egg Association, was released today quantifying the U.S. poultry industry’s on-farm antibiotic use. The updated report shows continued improved antibiotic stewardship and commitment to disease prevention within poultry production. As part of its commitment to the transparency and sustainability of a safe food supply, the poultry industry aims to strike a balance between the responsible use of antibiotics “medically important” to human health and keeping poultry flocks healthy.

“USPOULTRY’s board of directors has supported this research for many years...

Ahold Delhaize USA Announces Retirement of Food Lion President Meg Ham After Distinguished Career

Ahold Delhaize USA Announces Retirement of Food Lion President Meg Ham After Distinguished Career

Ahold Delhaize USA has announced that Meg Ham, president of Food Lion, plans to retire on May 2, 2025, after more than 35 years with the organization. She has been at the helm of Food Lion for more than a decade and has been part of the brand’s unprecedented growth, grounded in Food Lion’s heritage of customer service and convenient locations. A successor for Ham will be announced before...

ANALYSIS: EU Shell Egg Prices Show Signs of Stabilization

Since early September, shell-egg prices have surged by 60.7%, driven primarily by robust retail demand. As the dominant distribution channel for eggs, the retail sector has absorbed a substantial share of available supply, leaving fewer eggs for breaking operations. Consumers continue to favor eggs as a cost-effective protein alternative, particularly as prices for other proteins, such as beef, have risen significantly throughout the year.

Seasonal factors have further bolstered demand. Cooler autumn weather has encouraged more home cooking, driving up egg consumption...

Campbell's Mark Clouse to Retire on January 31

Campbell’s Company announced that Mick Beekhuizen will succeed Mark Clouse as President and CEO, effective February 1, 2025.

Beekhuizen, currently President of the Meals & Beverages division, has been with Campbell’s since 2019, previously serving as CFO. He is recognized for his leadership and role in Campbell’s successful acquisition of Sovos Brands. Before Campbell’s, he held senior roles at Chobani and Goldman Sachs.

Mark Clouse, who has led Campbell’s since 2019, will retire on January 31, 2025, to become President of the NFL's Washington Commanders.

Under his leadership, Campbell’s...

ANALYSIS: EU Dried Egg-White Market Navigates Evolving Dynamics and Challenges

In September 2024, the European Commission reported that EU dried egg white exports reached 11,459 tonnes, reflecting a slight 3.2% month-on-month decline from August. Despite this dip, cumulative exports for the year are up 23.92% compared to the same period in 2023, indicating strong overall growth. 

Both the liquid and dried egg white markets have experienced significant volatility in recent years.  In early December 2022, average prices for cage egg white powder reached a record high of 20.25 €/kg, prompting buyers to seek...

PODCAST: Agri-Food for Thought Ep 18 - Back from the "World's Leading Livestock Farming Trade Fair"

Simon and special guest Fei Thompson, from the Expana EMEA newsroom, give a recap of industry market sentiment gathered from key agribusiness companies and animal nutrition companies met during the recent EuroTier trade show in Hannover, Germany that took place in mid-November.

The Retail Rundown: Diving into December Deals

With the year-end holidays soon approaching, shoppers are eagerly diving into December deals. Retailers aim to capitalize on the season's spending surge with enticing offers on everything from festive foods to decadent desserts, decor, and other holiday items. 

Consumer spending on winter holidays is projected to hit a record-breaking $902 per person this year, according to a survey by the National Retail Federation (NRF) and Prosper Insights & Analytics. This figure marks a $25 increase from 2023 and surpasses the previous record set in 2019 by $16...

197 Million Consumers Shop Over Thanksgiving Holiday Weekend

The five-day holiday weekend from Thanksgiving through Cyber Monday saw an estimated 197 million shoppers, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. The figure is the second highest number in the survey’s history after last year’s record of 200.4 million, and surpassed NRF’s initial expectations of 183.4 million shoppers.

“Thanksgiving weekend retains its prominence among holiday spending events and continues to play a significant role in the holiday season for both consumers and retailers,” NRF President and CEO...

Coming Soon to Kroger: 12 Merry Days Savings Event'

The Kroger Co. today announced it will kick-off the 12 Merry Days of Deals event. From December 4 through December 15, customers can clip a new hot digital deal each day for redemption by December 17.

"12 Merry Days of deals are just two days away and we can't wait to surprise customers each day with a new way to save big this holiday season," said Mike Murphy Kroger's group vice president of e-Commerce, Analytics & Execution for Merchandising. "During this special event, in addition...

The Retail Rundown: Holiday Features in Full Display

In the final stretch to Thanksgiving, turkey ads dominate protein advertisements this week with 29 percent, up from 11.8 percent the week prior and surpassing pork's 26.4 percent. Seafood ads come in at 20.2 percent, followed by beef at 16.4 percent. Chicken takes 6 percent, while eggs still have less than one percent of retail buying opportunities.

Fresh whole turkeys account for half of all turkey promotions, with frozen turkeys making up 40.5 percent. While turkeys take center stage, the holiday season also lifts demand for cold-weather comfort foods and convenient...

Each Thanksgiving Dinner Requires a National Effort

As friends and family sit down for a Thanksgiving dinner, very few are aware that the feast on their table is a culmination of efforts of farmers from every corner of the United States. American Farm Bureau Federation economists analyzed the production of the ingredients that go into a classic Thanksgiving dinner, detailing which states produce the most commodities and the production value of those items. The Market Intel provides context to AFBF’s annual Thanksgiving dinner cost survey, which found the average cost of this year’s classic...

USDA's FSIS Shuffles Leadership

The U.S. Department of Agriculture's (USDA) Food Safety and Inspection Service (FSIS) has announced leadership changes aimed at advancing its public health mission. Dr. Denise Eblen, previously FSIS’ Assistant Administrator for the Office of Public Health Science, has been named FSIS Administrator. With 25 years of experience at USDA, Dr. Eblen will continue to lead the agency in using science-based decision-making to modernize inspection strategies and improve public health.

Paul Kiecker, with over 30 years of experience at FSIS, will become Assistant Administrator of...

Publix Names Vice President of Finance

Today, Publix Super Markets CEO Kevin Murphy announced the promotion of Doug Stalbaum to vice president of finance, effective Jan. 1, 2025.

Stalbaum, 45, joined the company in 2019 as director of business analysis and reporting, and was promoted to his current role, vice president and controller, in 2022. Prior to joining Publix, he was a senior audit manager at an accounting firm for eight years, senior director and controller at a restaurant chain for six years and director of finance at a furniture retailer for three years. He currently...

PODCAST: Agri-Food for Thought Ep 17 - Thanksgiving Turkey Prices Cheaper in 2024

Jamie chats with Turkey market analyst, Matt Busardo, on the 2024 Thanksgiving cost profile. 

The Retail Rundown: Turkey Takes the Spotlight

According to Circana data, fresh whole turkeys were featured at an average discounted price of $1.48 per pound last week, up from $1.27 per pound during the same period last year.

The most popular turkey sizes, 10–15 and 16–24 pounds, averaged $1.34 per pound, compared to $1.00–$1.10 per pound last year. These prices reflect pre-promotion rates and do not account for additional discounts or free turkey offers.

Whole turkeys are often used as loss leaders to increase holiday store...

New FMI 2024 Reports Examine Grocery Shopping Trends for The Holidays and Retail Foodservice

Despite ongoing concerns about food prices, shoppers feel more confident in managing their grocery budgets ahead of the holidays, according to FMI —The Food Industry Association’s annual U.S. Grocery Shopper Trends: Holiday Season report. These findings are further supported by FMI’s newly released ninth-annual Power of Foodservice at Retail report, which found that retail foodservice purchases continue to play a key role in shoppers’ meal preparation.

Consumers report a strong sense of excitement and enthusiasm for the holiday season despite...

Kroger Reveals Customer Thanksgiving Favorites and Grocery Shopping Habits in Time for The Holidays

In preparation for Thanksgiving, The Kroger Co. surveyed customers to see how they plan to shop and what they plan to eat during the holidays this year.

"Thanksgiving is such a special time of year and we take pride in knowing exactly what is important to our customers during this holiday season," said Tom Duncan, Vice President, Head of Marketing at Kroger. "No matter how they choose to celebrate, we're happy to provide our customers with value on the items they need...

Panera Brands Announces New Independent Board Appointments

Panera Brands Inc., which includes the iconic fast-casual concept Panera Bread as well as the Caribou Coffee and Einstein Bros. brands, today announced appointments to its Board of Directors to bolster its restaurant industry experience as the company prepares for its next phase of growth. Patrick Grismer, previously Chief Financial Officer of Starbucks and Lead Independent Director of Panera, has been named Board Chair. Additionally, industry veteran David Deno has joined the Board and will assume the role of Audit Committee Chair, effective immediately...