Another Panama Canal Red Flag: Spiking Product Tanker Rates
Yet another signal on the Panama Canal situation is flashing red: Spot rates are surging for product carriers — specialized tankers carrying diesel, gasoline and jet fuel — that transit the waterway.
America is the world’s largest exporter of refined petroleum products. The west coast of South America is a traditional destination and the Panama Canal is pivotal to this trade. Alternate routes are more than twice as long.
Since the Panama Canal Authority (ACP) began heavily restricting reservation slots at the start of November, waiting time for ships without reservations has dramatically...
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U.S. Pork a High-Quality, Convenient Option for Consumers in Korea
USMEF is partnering with Korean retailers to develop and promote U.S. pork in new home meal replacement products.
Korean processors, retailers and restaurants are working aggressively to develop new ideas to satisfy the needs of fast-growing, single-person households in Korea, which now account for 41% of all households.
Consumer demand for quality and convenience is booming and USMEF is partnering with retailers to develop and promote new products with U.S. pork for as home meal replacement (HMR) options.
One such partnership has been an ongoing collaboration with...
Cracker Barrel Reports First Quarter Fiscal 2024 Results
Cracker Barrel Old Country Store, Inc. ("Cracker Barrel" or the "Company") (Nasdaq: CBRL) today reported its financial results for the first quarter of fiscal 2024 ended October 27, 2023.
First Quarter Fiscal 2024 Highlights
DoorDash Launches Annual 12 Day Holiday Savings Event
Whether you’re making your list or you’re checking it twice, DoorDash is the special ingredient for a joyful holiday season with Deck the Doorstep, twelve festive days of massive deals to help make holiday hosting and shopping more convenient than ever. From December 1st through December 12th, DoorDash users can look forward to limited-time discounts, daily deals, and exclusive DashPass offers from local and nationwide favorites featuring groceries, retail, and restaurants — all in one place.
During DoorDash’s annual savings event, people will be able to...
Dominique Bertolone Named President of Maggiano’s Little Italy, SVP of Brinker International
Casual dining restaurant brand Brinker International, which owns concepts Chili’s and Maggiano’s Little Italy, announced this week that they’ve appointed Dominique Bertolone to serve as one of their Senior Vice Presidents. In addition, Bertolone has also been named the President of Maggiano’s Little Italy.
“Dominique is the perfect leader to usher in the next wave of Maggiano's growth," said Kevin Hochman, Brinker International President and CEO. "His experience leading all types of foodservice concepts has direct application to accelerating the three Maggiano's channels of dine-in...
Sam’s Club to Open Two New Distribution Centers in St. Louis and Minneapolis Areas
Sam's Club®, a division of Walmart Inc. and a leading membership warehouse club, today announced plans to open two new distribution centers in early 2024 outside St. Louis and Minneapolis. The new facilities are part of a multi-year growth plan to transform the supply chain at Sam’s Club and evolve network and end-to-end capabilities. In addition to bringing new jobs to the areas, the new distribution centers will also give Sam’s Club members a better shopping experience witH...
NCBA Secures Senate Introduction of Legislation to Protect Producers from Black Vultures
This week, the National Cattlemen’s Beef Association (NCBA) hailed the introduction of the Senate version of the Black Vulture Relief Act introduced by Sen. Markwayne Mullin (R-OK), a companion bill to legislation introduced in the House of Representatives earlier this year that protects cattle producers from the devastating impacts of black vulture depredation.
“Black vultures are particularly nasty predators, and their attacks can be financially devastating to small, family-owned cattle operations,” said NCBA Policy Division Chair Gene Copenhaver, a Virginia cattle producer...
PODCAST: Episode 2 of Agri-Food for Thought Now Available!
Jamie and Simon are back with Episode 2 of the Agri-Food for Thought podcast. Listen now as they discuss food inflation and the consumer mindset during the 2023 holiday season.
QDOBA Completes Whole Business Securitization, Providing Additional Liquidity to Supercharge Growth
QDOBA Restaurant Corporation (“QDOBA”), the leading fast-casual Mexican restaurant franchisor and portfolio company of Butterfly Equity (“Butterfly”), today announced the closing of its inaugural $305 million whole business securitization through Qdoba Funding LLC.
The transaction optimizes QDOBA’s capital structure for ongoing growth and provides meaningful interest expense savings. Proceeds from the transaction will be used primarily to refinance QDOBA’s existing senior debt facilities and provide liquidity to invest meaningfully in general corporate initiatives, such as remodeling more than 80 corporate restaurants and adding digital menu boards to...
Travis Kelce Launches Travis Kelce's Kitchen, a Line of Game-Changing Refrigerated Entrees
Travis Kelce, one of the greatest tight ends of all time and a staple of the Kansas City Chiefs since 2013, is taking his love for Kansas City BBQ to a whole new level. With the launch of Travis Kelce's Kitchen, his own line of flavorful refrigerated entrees, Kelce aims to share his passion for great food, especially the hearty BBQ that Kansas City is famous for. This new line features seven of his favorite dishes inspired...
It’s the Most Wonderful Time of the Year at The Fresh Market!
The Fresh Market is making prepping for the holidays easier than ever this year, with the specialty food retailer’s prepared holiday meals available now for pre-order, a special holiday print edition of The Fresh Market Magazine, and a holiday-themed shoppable livestream featuring brand ambassador, Chef Anna Rossi.
Whether it's a festive feast with family and friends or a small gathering, The Fresh Market offers everything guests need to create memorable and delicious meals. To make holiday shopping even more convenient, The Fresh Market also...
Ingles Markets, Incorporated Reports Results for Fourth Quarter and Fiscal Year 2023
Ingles Markets, Incorporated (NASDAQ: IMKTA) today reported results for the three and twelve months ended September 30, 2023.
Robert P. Ingle II, Chairman of the Board, stated, “We are happy to report results for the quarter and year-end. We continue to thank our associates for the dedication and hard work they provide to serve our customers.”
Fourth Quarter Results
Net sales totaled $1.58 billion for the quarter ended September 30, 2023, compared with $1.45 billion for the quarter ended September 24, 2022...
Logan’s Roadhouse “Beefing” Up Holiday Offers For A Limited Time
Logan’s Roadhouse, the leading steakhouse known for its scratch-made rolls, mesquite grilled steaks, and ice-cold beer, is thrilled to announce the triumphant return of Prime Rib, just in time for the holiday season. Logan’s invites guests to indulge in a special Prime Rib experience that will be available exclusively on weekends from through February 18, 2024.
The Prime Rib special features a juicy 13 oz. prime rib, seasoned to perfection in Logan’s signature rub, and then masterfully slow-roasted for six hours and hand-carved to order. Logan’s...
Publix Shuffles Leadership For The New Year
American supermarket chain Publix announced that they have shuffled their leadership ahead of the new year. Effective January 1, 2024, current CEO Todd Jones will transition to an Executive Chairman role. Meanwhile, President Kevin Murphy will be promoted to CEO and Senior Vice President John Goff will be promoted to President.
Jones is a long time employee at Publix, beginning as a front service clerk at the store’s New Smyrna Beach, Florida, location. He ultimately worked his way up to Store Manager in 1988...
A Twist of Fate: Wendy's Unveils the New Pretzel Baconator
Wendy's® just dropped an epic gift for consumers this holiday season with a twist on the signature Baconator®. Now for a limited time, fans can unwrap the new Pretzel Baconator and experience the perfect harmony of Wendy's legendary Applewood smoked bacon topped with an irresistible, fan-favorite pretzel bun. The unique combination of flavors and textures creates a savory moment with every bite and is sure to elevate your tastebuds.
Savor the TwistBacon and warm pretzels make everything better – so why not bring them together...
New Markets and Award Recognitions Position the Noodles & Company Franchise for Momentum in 2024
Noodles & Company, (NASDAQ: NDLS) the national fast-casual chain known for its globally inspired noodle bowls, best-in-class service, and values-centric culture, entered new franchise markets and achieved high accolades in 2023 with honors from top publications including Forbes, Denver Business Journal, and Franchise Times. Noodles' franchise growth and award achievements demonstrate how the franchise continues to be an enticing opportunity for experienced multi-unit, multi-concept operators.
This year Noodles & Company made significant strides in furthering its franchise growth strategy called...
Maggiano's Little Italy® Welcomes the Winter Holidays With Festive Flair
Maggiano's Little Italy® is continuing to celebrate the holiday season by providing delicious options for upscale winter gatherings with family-style dine-in, carryout options and winter menu features for December! In the spirit of togetherness, Maggiano's will also have their doors open to anyone who doesn't feel like turning on the oven this Christmas Eve, New Year's Eve and New Year's Day.
From Nov. 30 to New Year's Eve, guests can dine in at Maggiano's for an extravagant three-course holiday menu featuring refined Italian Classics...
HelloFresh Brings Back Fan-Favorite Buddy the Elf™ Spaghetti Meal Kits with a Twist
HelloFresh, the world’s leading meal kit company, and Warner Bros. Discovery Global Consumer Products announced today the return of the highly coveted Buddy the Elf™ Spaghetti meal kits. After selling out in mere minutes in 2022, HelloFresh is re-releasing the limited-edition spaghetti kits for the holiday season in the US and Canada with the addition of special keepsakes to delight fans and help commemorate Elf’s 20th Anniversary. Spreading even more holiday cheer throughout December, HelloFresh is also debuting Elf-themed meals and...
Quiznos Launches Latest Globally Inspired Seasonal Offer: Club Peri Peri Sandwich
Promising innovation with each new creation, Quiznos’ new Club Peri Peri Sandwich is the latest limited-time offer from the iconic sandwich chain that provides a new flare on a familiar favorite and brings flavors from around the world to restaurants in the U.S. and Canada.
The Club Peri Peri Sandwich is made with grilled chicken, creamy peri-peri sauce, bacon, red onions, lettuce, tomatoes, jalapeños and melted cheese, served on Italian white bread. A traditional South African sauce, peri-peri adds a touch of spice to Quiznos’...
White Castle adds comfort to the winter months with the return of its fan favorite Sloppy Joe Sliders
The cooling weather is reaching the point where comfort food is needed, and White Castle is here to answer the call. The iconic family-owned restaurant that kick started America's love for fast food, is happy to bring back its popular Sloppy Joe, Smoky Joe and Spicy Joe Sliders as well as its Mac & Cheese Nibblers to satisfy comfort cravings during the holidays and throughout the winter season.
These seasonal favorites, which capture the hearts and taste buds of craving customers year...
Mama’s Creations Launches Direct-to-Consumer E-Commerce Platform
Mama’s Creations, Inc. (NASDAQ: MAMA), a leading national marketer and manufacturer of fresh Deli prepared foods, today announced the launch of its nationwide direct-to-consumer e-commerce platform https://shop.mamamancinis.com/, offering popular MamaMancini’s retail products for delivery throughout the continental United States.
During the first phase of the platform launch, customers can shop online from a curated selection of MamaMancini’s bestselling products including Beef Meatball On-the-Go Cups, Beef Meatballs Family Meals, Turkey Meatballs Family Meals, Stuffed Meatballs Family Meals and...
Stryve Foods Announces Major Distribution Expansion into Leading Retailers Across the United States
Stryve Foods, Inc. (“Stryve” or “the Company”) (NASDAQ: SNAX), a pioneer in healthy protein snacks, is thrilled to announce its strategic distribution expansion into several prominent retail chains, solidifying its presence in key markets. The company's innovative and protein-packed snacks will now be available at Southeastern Grocers, Cub Foods, Lunds/Byerly's, Fresh Thyme, Lowes Foods, AAFES, Holiday Oil, Timewise, Family Express, and Dash In.
This expansion marks a significant milestone for Stryve Foods, as it continues to gain recognition for its commitment to providing...
Experts at Columbus Craft Meats Welcome the Holiday Season with Insight on Latest Charcuterie Trends
While no one holiday gathering is the same, certain traditional elements are consistent with parties this time of year. Lights and decorations adorn roofs, walls and fixtures, surrounded by beloved friends and family in the warmth of an inviting home. And of course, what holiday party is complete without an appetizing spread of delicious food?
Charcuterie has become an integral part of holiday celebrations for people throughout the country, as charcuterie boards — consisting of meat, cheese, acid, crunch and a "wow" factor — are especially popular...
Modern Market Eatery First Drive-Thru Location Now Open
Modern Market Eatery, the Colorado-based fast casual concept specializing in scratch-made foods using clean ingredients, has opened the brand's first drive-thru restaurant in Colorado Springs at 3015 New Center Point, Suite 100, in the First & Main Town Center on Friday, Nov. 17.
The new company-owned restaurant is the third Modern Market Eatery location in Colorado Springs. Offering dine-in, drive-thru and delivery options, it will serve the full Modern Market menu, including the new winter menu that launched on Nov. 1, featuring eight brand-new dishes...
IHOP® Brings a Bit of Whimsy to New Menu in Celebration of the Release of Wonka
Today, IHOP® announced it is celebrating the magic of Warner Bros. Pictures’ Wonka with a lineup of limited time only offerings inspired by the new film. IHOP is a must-experience dining destination this holiday season with fun, exclusive menu items and offers that need to be tasted to be believed.
Through this partnership, nine whimsical food and beverage items – including new Wonka’s Perfectly Purple Pancakes and Dreamy Lemonade – will bring the joy of Wonka’s world to IHOP guests’ plates at participating...
Holy Cannoli! Carrabba's Italian Grill Has a New App
Authentic Italian cuisine is just a click away with the all-new Carrabba's mobile app, the latest way to taste the flavors and fun of Carrabba's Italian Grill. The app serves a satisfying selection of exclusive benefits including free dessert for downloading with any adult entrée through Sunday, Dec. 3.
"The Carrabba's app was designed to make it easier than ever for guests to dine with us," said Bronze R. Major, Head of Marketing for Carrabba's Italian Grill. "We've added a number of features to enhance...
Red Robin Introduces Limited-Edition Gift Card That Doubles as a Pass to Free Appetizers in 2024
This holiday season, Red Robin Gourmet Burgers, Inc. (NASDAQ: RRGB) is helping guests give the gift of YUMMM® and good cheer, with a limited-edition $100 Red Robin Gift Card that unlocks free appetizers in 2024,* plus a special chance to give back to Make-A-Wish®.
Available exclusively online at Red Robin.com from Black Friday, Nov. 24-27, and in participating restaurants Dec. 1-31 while supplies last, purchase a limited-edition $100 silver gift card for your...
Holiday Meals Simplified
(Family Features) With holiday entertaining on the minds of many this time of year, it's important to take steps to make setting the table stress-free and keep focus on what really matters – spending time with loved ones.
With 92% of customers expressing some level of concern about inflation, according to Walmart's Holidays 2023 Seasonal Survey, it's important to take steps to save time and money during an expensive time of year.
To help combat inflation, the retailer – which has saved customers more than $1 billion on seasonal baskets and rollbacks during the past year...
Mintec Releases "Thanksgiving Dinner Index 2023" Report; Read It Here
Mintec enables the world's largest food and manufacturing brands to implement more efficient and sustainable procurement strategies. We do this through our cutting-edge SaaS platform, Mintec Analytics, which delivers market prices and analysis for thousands of commodities, food ingredients and associated materials. Our data and tools empower our customers to understand prices better, analyze their spend and negotiate with confidence.
Mintec’s latest report, “Thanksgiving Dinner Index 2023,” is a look at the components that make up the traditional holiday dinner...
Publix Announces Officer Promotions
Today, Publix President Kevin Murphy announced three officer promotions, effective Jan. 1, 2024.
With John Goff’s upcoming promotion to president, Vice President of Product Business Development for Grocery Norman Badger, 44, will be promoted to senior vice president of retail operations, and Business Development Director of Alcoholic Beverages Chris Shaw, 54, will be promoted to vice president of product business development for grocery.
Also, to enhance our ability to support our operations, Publix is adding another officer promotion. Director of Facility Refrigeration and Energy Management Mikhael Ser, 53, will be promoted to vice president of...
The Retail Rundown: Feasting on Holiday Features
Thanksgiving is here and the retail segment is teeming with all things turkeys, sides, sweets, and treats!
Fittingly, turkey leads the protein category with 31.1% of total feature volume, up from 22.5% the week prior. Pork follows with 22.8%. Seafood narrowly overtakes beef for the third spot, with 18.8%. Beef claimed 17.4%, nearly flat with last week.
Mintec recently took a look at the components that make up the traditional holiday dinner in its "Thanksgiving Dinner Index 2023" report. The index, which measures price fluctuations across key food commodities that make up a...
Corn Harvest Nears Completion in Latest Crop Progress Report
In the latest Crop Progress report, the USDA shows 93% of corn is now harvested, up from 88% the week prior and ahead of the 5-year average figure by two percentage points. Kansas, North Carolina, and Texas are reporting 100% harvest completion.
Winter wheat plantings are nearing completion as well, with 95% of the crop in the ground as of Sunday, November 19. 87% of winter wheat has emerged and 83% is rated in fair to excellent condition overall.
Nearby corn futures contracts are 2 to 2 ½ cents higher...
Little Caesars Reintroduces the Irresistible Stuffed Crust Pizza
As the holiday season draws near, Little Caesars announces the triumphant reintroduction of the Stuffed Crust pizza—this time, with an exciting enhancement that will elevate your holiday gatherings.
The Stuffed Crazy Crust Pizza takes Little Caesars classic Stuffed Crust pizza, oozing with melted cheesy goodness, and tops the crust with Little Caesars signature Crazy Crust topping– a mouthwatering blend of garlic-infused buttery richness adorned with a sprinkle of parmesan. This addition takes the beloved stuffed crust experience to new heights, creating a fusion of flavors that's genuinely a dream come...
McDonald's to Acquire Carlyle's Stake in McDonald's China
McDonald's Corporation (NYSE: MCD) and global investment firm Carlyle (NASDAQ: CG) today announced that McDonald's has agreed to acquire Carlyle's minority ownership stake in the strategic partnership that operates and manages McDonald's business in mainland China, Hong Kong and Macau.
The CITIC Consortium, mainly through its equity affiliate CITIC Capital, will maintain its controlling ownership stake. Upon completion of the transaction, the CITIC Consortium will continue to own 52%, and McDonald's will remain a minority partner while increasing its stake from 20% to 48% ownership...
FSIS Issues Public Health Alert for Meat and Poultry Jerky Products
The U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) is issuing a public health alert for meat and poultry jerky products due to misbranding and undeclared allergen. The product may contain soy, a known allergen, which is not declared on the product label. FSIS is issuing this public health alert to ensure that consumers are aware that this product should not be consumed. A recall was not requested because the product is no longer available for purchase.
The meat and poultry jerky items were produced on various...
Skyline Provisions, Inc. Recalls Ground Beef Following Complaint of Foreign Object
Skyline Provisions, Inc. is recalling about 5,620 pounds of raw ground beef products after the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) received a customer complaint about a foreign object.
In an announcement made on Sunday, the FSIS said the raw ground beef items were produced and packed on Aug. 19, 2023. The products should be thrown away or returned to the place of purchase.
The products subject to recall bear establishment number “EST. 19300” and were shipped to institutions in Connecticut, Maine, Massachusetts, New Hampshire...
Now is the Time to Enjoy White Castle Stuffing Season
It's WCS season! That's "White Castle Stuffing" season for those not in the know. White Castle, the iconic, family-owned business, reminds people that before the bells start jingling, before the yule tides, and before everyone starts belting what they want for Christmas, Thanksgiving must be celebrated! Of course, that celebration should include a freshly baked legendary White Castle stuffing recipe.
White Castle's Original Slider Stuffing set a new standard on how Thanksgiving Day stuffing should be prepared. The recipe was first introduced in 1991 when a White...
More People Than Ever Expected to Shop During Thanksgiving Holiday Weekend
An estimated 182 million people are planning to shop in-store and online from Thanksgiving Day through Cyber Monday this year, according to the annual survey released today by the National Retail Federation and Prosper Insights & Analytics. This figure is 15.7 million more people than last year and is the highest estimate since NRF began tracking this data in 2017.
“The Thanksgiving holiday weekend marks some of the busiest shopping days of the year, as consumers enjoy the tradition of shopping for the perfect gifts for friends and loved...
USDA Announces Planned Trade Missions for 2024
Agriculture Secretary Tom Vilsack today announced next steps in the U.S. Department of Agriculture’s efforts to bolster U.S. agricultural trade, including the department’s planned trade missions for 2024 and the opening of a public comment period for the new Regional Agricultural Promotion Program (RAPP). These efforts will help to support further growth in U.S. agricultural exports and introduce high-quality U.S. agricultural products to new markets.
“Market diversification is an important tool for maximizing growth opportunities for U.S. agriculture, as well as hedging...
Amazon Leads U.S. Grocery Retailers in Personalization Followed by H-E-B and Kroger, dunnhumby Finds
Dunnhumby, the global leader in customer data science, today released a special edition of the dunnhumby Retailer Preference Index (RPI), designed to determine which retailers in the $1 trillion U.S. grocery market personalize the shopping experience best for their customers. In this inaugural RPI for Leadership in Personalization, dunnhumby found that Amazon stands apart from all other retailers followed by H-E-B in second and Kroger rounding out the top three. These three retailers are at the top of the rankings because...
Save Mart, Lucky and FoodMaxx Stores are Now Live on DoorDash
DoorDash (NASDAQ: DASH), the local commerce platform, announced a partnership with The Save Mart Companies to bring Save Mart, Lucky, and FoodMaxx locations to the DoorDash Marketplace. Starting today, consumers across California and Nevada can access Save Mart, Lucky, and FoodMaxx on DoorDash to get groceries delivered same day in under an hour, on average*, directly to their door.
“We are excited to extend the reach and accessibility of our fresh quality offerings, local favorites, and everyday essentials with DoorDash to strengthen our commitment of providing grocery solutions for...
Holiday Grocery Shopping Habits
Though technology has undeniably evolved the way we communicate, I’ve found that no text, call, or video chat can replace the warmth of hugging my mom. The holiday season for me is a time of strengthening familial bonds, gifting joy, and indulging in the “Superbowl” of meals. Raised by a large village of multigenerational family and friends, these moments spent together come few and far between and are deeply cherished. Whether hosting or traveling home, our U.S. Grocery Shopper Trends, Holiday Season report finds more than 90% of Americans are celebrating Thanksgiving and the December holidays...
Census Says Retail Sales Grew Year Over Year in October But Growth Continued to Slow
Retail sales kept up a long streak of year-over-year gains in October even though the rate of growth continued to slow, National Retail Federation Chief Economist Jack Kleinhenz said in response to the U.S. Census Bureau’s release of monthly retail sales data today.
“Fourth-quarter consumer spending stepped off on a more moderate pace, as expected,” Kleinhenz said. “The staying power of the American consumer has been the story of 2023, but financial conditions have...
President Biden Signs Stopgap Funding Bill, Avoiding Gov't Shutdown
A government shutdown was narrowly avoided once again after President Joe Biden signed a stopgap spending bill Thursday evening.
Funding was due to expire at 12:01 a.m. Saturday, raising concerns about widespread disruptions ahead of the hectic holiday season.
The short-term bill, or continuing resolution (CR), passed the Senate and House this week and splits the extension into two dates: January 19 and February 2. On Wednesday, the Senate voted 87-11 to approve the stopgap bill.
A statement released by the White House yesterday reads...
Checkers & Rally's Strengthens Leadership Team with Appointment of New CFO and CMO
Checkers & Rally's, an iconic drive-thru restaurant chain known for flavorful, craveable food at a great value, today announced the appointment of Michael Blair as Chief Financial Officer and Scott Johnson as Chief Marketing Officer. In their respective roles, Blair and Johnson will help fuel growth in the business, focusing on driving profitability, guest engagement and continued expansion of the brand. Mr. Blair and Mr. Johnson will report to Checkers & Rally's President and CEO, Frances Allen.
"I am pleased to welcome Michael and Scott to the Checkers & Rally's...
OpenTable Debuts Annual Top 100 Restaurants List Alongside 2023's Biggest Dining Trends
As 2023 comes to a close, bringing holiday and year-end celebrations, OpenTable is helping diners select the perfect venue with the debut of its Top 100 Restaurants in America list for 2023. Featuring an updated methodology using OpenTable diner reviews and new metrics, the list uncovers some of the most in-demand restaurants by OpenTable diners this year.1
Additionally, OpenTable insights from the year (January 1 – September 30) compared to 2022 reveal shifts in diner behaviors and cravings. Highlights include...
Subway® Names Jeff Shepherd as Chief Financial Officer
Subway, one of the world's largest restaurant brands, today announced the appointment of Jeff Shepherd as Chief Financial Officer (CFO). Shepherd will report directly to Chief Executive Officer (CEO) John Chidsey and oversee Subway's global finance organization, responsible for managing and optimizing the brand's global financial performance and information security. Shepherd succeeds Ben Wells who will retire at the end of the year after a 46-year career.
"Jeff has a well-earned reputation for driving strong financial results for global brands, bringing nearly 30 years of financial and accounting...
Urner Barry’s Market Briefing Provides Insights on Commodity Protein Markets
Urner Barry is the leading provider of protein market news and information in the food industry. Through daily canvasses of the trade and an unrivaled historical database, our analysts are uniquely positioned to report on the underlying conditions and significant disruptors to the market. In this Market Briefing, Urner Barry reporters outline the latest action in the commodity protein markets, highlighting seasonal factors, disruptors, and current supply and demand fundamentals.
Click HERE to view the latest report...
Kraft Heinz Announces Updates to Executive Leadership Team
Today, The Kraft Heinz Company (Nasdaq: KHC) (the “Company” or “Kraft Heinz”) announced new members of its Executive Leadership Team that will partner with Carlos Abrams-Rivera when he assumes the Chief Executive Officer role beginning in the 2024 fiscal year.
“Over the past four years under Miguel’s leadership, we’ve made great progress and now have a solid foundation to build our future,” said Carlos Abrams-Rivera, President of Kraft Heinz and incoming CEO. “Our strategic plan maps our ‘jobs to be done’ in each of our...
Mintec, along with its Urner Barry and Feedinfo brands, is proud to launch this brand new podcast for agriculture and food professionals! Join hosts Jamie Chadwick and Simon Duke as they dive into everything happening in the agri-food space. Featuring market insights, trends, and news. Listen to Ep 1 now.
Gala Foods Deploys eGrowcery Platform to Grow Online Sales and Enhance Shopper Engagement
Gala Foods, a full supermarket banner with on-site butchers, bakery, full deli, pharmacy, flower shop and hot food, has one of its ownership groups upgrading its online shopping experience and has chosen eGrowcery, developer of the leading retail food industry eCommerce platform for grocers, as its digital partner for the future. Gala Foods is offering online shopping for customer pick up or delivery beginning at the Bridgeport, CT location.
“Our customers want to us be a modern retailer and that means offering them every option for...
Cost of Thanksgiving Dinner Down Slightly from Record High in 2022
Gathering around the table for a Thanksgiving dinner won’t take as much of a toll on your pocketbook this year compared to 2022, but the meal still reflects historically high costs. The American Farm Bureau Federation’s 38th annual survey provides a snapshot of the average cost of this year’s classic holiday feast for 10, which is $61.17 or less than $6.20 per person.
This is a 4.5% decrease from last year’s record-high average of $64.05, but a Thanksgiving meal is still...
Brett Friedman Joins Logile as Chief Revenue Officer
Logile, Inc., the leading retail labor planning, workforce management, inventory management and store execution provider, today announced that Brett Friedman has joined the company as Chief Revenue Officer. Brett will be responsible for leading all of Logile’s revenue generation and marketing operations, utilizing his extensive experience to position Logile as the leading provider for store-level planning, scheduling and task execution. Logile delivers the ideal solution to connect empowered workers, and Brett’s experience will drive Logile’s growth.
"Brett is the right leader to bring in now,’’ said Purna Mishra, President and CEO...
Lineage Celebrates Grand Opening of Houston ColdPort Facility
Lineage (the “Company”), one of the leading temperature-controlled industrial REIT and integrated solutions providers worldwide, today celebrated the grand opening of its newest facility in Houston, Texas. Houston ColdPort is strategically located near the Jacintoport Terminal at Port Houston, a leader for the Houston Ship Channel and an integral component of Houston’s international trade activity.
Spanning approximately 315,000 square feet, the new facility marks the sixth location in Lineage’s Greater Houston network and is designed to support many customer profiles and business needs, complementing the Company’s additional locations across...
The Retail Rundown: 2023 Thanksgiving Outlook
Thanksgiving is just one week out and grocers are bracing for a busy weekend ahead as shoppers secure any remaining needs for the holiday feast. Below, we have the latest outlook on what Turkey Day 2023 may bring.
The Star of the Show
Shoppers this Thanksgiving may breathe a sigh of relief when looking at prices for the big bird. Last year, households shelled out more money for their turkeys due to factors including highly pathogenic avian influenza (HPAI) complications, low cold storage holdings, and inflation.
A lull in bird flu detections following the initial outbreak...
Indulge in the Essence of the South with O'Charley's Limited-Time-Only “Southern Comfort” Menu
O'Charley's is thrilled to announce the launch of its much-anticipated and limited-time-only Southern Comfort Specials Menu, set to delight taste buds and bring a touch of Southern charm to guests starting today.
The Southern Comfort Specials Menu features a delectable array of dishes that pay homage to the rich culinary heritage of the American South.
Highlights of the new menu include:
NCBA Again Strongly Opposes USDA’s Decision to Allow Paraguayan Beef Imports
The National Cattlemen’s Beef Association (NCBA) strongly opposes the U.S. Department of Agriculture’s (USDA) decision to allow Paraguayan beef imports starting next month. NCBA has repeatedly raised concerns with USDA over Paraguay’s history of foot-and-mouth disease (FMD) and the outdated information used to justify Paraguay’s access to the U.S. market. NCBA is concerned that USDA’s failure to use information from recent site visits in the risk assessment may pose great risk to the safety of the U.S. cattle herd...
Corn Harvest 88%, Soybeans 95% Complete in Latest Crop Progress Report
In the latest Crop Progress report, the USDA shows 88% of corn is now harvested, up from 81% the week prior and two percentage points ahead of the 5-year average.
Nearby corn futures contracts are fractionally higher in early Tuesday trading following yesterday's rally. December corn was last trading nearly flat at $4.77 ½ per bushel.
The soybean harvest is nearly complete at 95%, up from the previous week's figure of 91%. The five-year average rate is also 91%...
Brazil Food Processor BRF Widens Net Loss in Q3 on Grain Prices, Chicken Glut
BRF SA, the Brazilian pork and poultry processor, widened its third-quarter loss from the year-ago period as it continued to deal with a chicken oversupply while also trying to rein in grain prices, it said on Monday.
BRF reported a 262 million real ($53.37 million) net loss in the third quarter, larger than the 136.7 million loss a year ago but slightly better than an LSEG consensus forecast of a 279 million real loss.
Despite the hit, BRF said improvements in the company's...
Giant Food and UFCW Locals 400 and 27 Ratify New Contract
Giant Food is pleased to announce that our store associates have ratified a new four-year collective bargaining agreement negotiated between Giant Food and UFCW Locals 400 and 27. The agreement significantly enhances the wages and benefits for our 17,000+ represented associates, and demonstrates the respect we have for our associates' contributions and commitment to Giant Food.
"I am tremendously proud of our 87-year history as a local employer of choice. As a team, we continue to build upon that foundation for thousands of associates throughout the...
Instacart Spotlights Stress-Free Holiday Celebrations with New Brand Campaign
Instacart (NASDAQ: CART), the leading grocery technology company in North America, today announced "The Holiday Rescue App" – its most extensive holiday campaign yet, which reinforces its position as an indispensable partner to families throughout the entire holiday season. "The Holiday Rescue App" brand campaign will run for seven weeks in the U.S. and Canada and features multiple campaign extensions, from hosting family and gifting the ultimate presents to preparing for New Year's Eve celebrations. The new creative spotlights how Instacart is the one-stop destination that can serve every holiday...
Agricultural Markets Brace for Potential Gov't Shutdown Ahead of Holiday Season
Agricultural market participants are bracing for a potential government shutdown, which is just days away should Congress fail to extend funding past November 17.
House Speaker Mike Johnson proposed a two-step spending bill, which has received tentative support from Senate Democrat Chuck Schumer. If passed, it would extend government funding for four appropriation bills to January 2024 and funding for the remaining eight bills into February. The bill must clear the House before moving to the Senate...
Uncle Julio's Announces Leadership Appointments
Uncle Julio's Restaurant Group ("Uncle Julio's") today announced that it has named Scott Lawton as CEO and RJ Thomas as President and Chief Operating Officer, to lead the company and accelerate its growth.
Lawton is a seasoned restaurant executive with more than 20 years of leadership and operational experience. In 2011, he co-founded bartaco, a coastally-inspired restaurant serving upscale street food with 29 locations in 13 states, and he subsequently served as President and Chief Operating Officer of Barteca until its sale to Del Frisco's Restaurant Group in 2018...
Applebee’s Introduces NEW Holiday Combos
The holidays just got better at Applebee’s with four NEW Holiday Combos starting at $13.99*! Warm up this winter with a variety of hearty combos each featuring two popular proteins including Honey BBQ Chicken Breast, Blackened Cajun Salmon, 6 oz. USDA Select Top Sirloin, Applebee’s Riblets, and Double Crunch Shrimp. Each Combo also includes garlic mashed potatoes, steamed broccoli, and crispy onions. Available for dine-in, To Go, and delivery, Applebee’s Holiday Combos are only available for a limited time.
These fa-la-la-la finger lickin' good combos include two delicious proteins...
Wonder Announces Closing of Blue Apron Acquisition to Enhance its Leading Platform for Mealtime
Wonder Group, a company founded by entrepreneur Marc Lore that is redefining at-home dining and food delivery, today will close its previously announced acquisition of Blue Apron (Nasdaq: APRN), the pioneer of the meal kit industry in the United States.
The acquisition will further enhance Wonder’s creation of the super app for mealtime, serving a broad range of dining occasions that feature cuisines from some of the world’s best chefs and restaurants.
Having pioneered a new category of “Fast Fine” dining through its collection of...
New US House Speaker Tries to Muster his Republicans to Avert Government Shutdown
Fledgling U.S. House of Representatives Speaker Mike Johnson faces his first big legislative battle this week as his tries to marshal his fractious Republican majority into supporting an unconventional plan to avert a partial government shutdown beginning on Saturday.
Some House Republican hardliners were already pushing back at Johnson's proposal for a two-step stopgap bill that would not otherwise cut spending, a "clean" bill of the kind that led to the historic ouster of Johnson's predecessor, Kevin McCarthy...
Paraguayan Authorities Approve Health Protocol for Beef Exports to U.S.
In a notice issued Monday, Minerva Foods announced that Servicio Nacional de Calidad y Salud Animal, from Paraguay, has approved a health protocol for Paraguayan beef exports to the United States.
Minerva Foods is South America's leading beef exporter and has four plants in Paraguay. Combined, those four facilities have a slaughter capacity of 8,000 head per day.
Only bureaucratic procedures remain before Paraguayan production units are certified and exports can be started, added the company. Once certified, these units will be added to assets in Brazil, Argentina, and Uruguay....
Branded Hospitality Ventures and Results Thru Strategy Announce Partnership
Results Thru Strategy (RTS), strategic advisor to restaurant brands, technology companies, and investment firms, and Branded Hospitality Ventures (Branded), the leading investment and solutions platform dedicated to the hospitality and foodservice industry, today announced they had reached a partnership agreement.
Through this partnership, RTS will provide culinary, supply chain, and branding advising and consulting across operations, technology, marketing, and go-to-market strategy to Branded clients, partners and connections, which include emerging and growing restaurant brands and technology companies.
"We're excited to bring complementary resources to support...
Chef José Andrés Joins Wonder Group’s Board of Directors
Wonder Group, a company founded by serial entrepreneur Marc Lore that is redefining at-home dining and food delivery, today announced that renowned chef José Andrés will join the company’s board of directors to help advise Wonder on future chef partnerships, growth strategies and more.
“As one of the most admired and respected chefs and philanthropists in the world, José brings an incredibly unique perspective to Wonder, one that will help us grow and connect with customers in meaningful ways,” said Marc Lore, founder and chief executive officer of Wonder Group...
North 49 Foods Opens New Sow Processing Plant in Moose Jaw
A new pork processing facility in Canada has come online, marking the first time for such an occasion in over a decade.
North 49 Foods, a division of Thunder Creek Pork, officially opened its federally inspected sow slaughter and processing facility in Moose Jaw, Saskatchewan in late October.
The 120,000-square-foot facility was retrofitted from the former JBS/XL Foods beef plant, which was acquired by Donald's Fine Foods in 2019.
Donald's Fine Foods already operates a hog slaughter plant in Moose Jaw that was opened in 2011...
USDA Announces Progress to Further Competition in Agriculture, Level Playing Field for Farmers
Agriculture Secretary Tom Vilsack today announced progress on the U.S. Department of Agriculture’s (USDA) comprehensive approach to address the many, complex competition issues in agricultural markets and create a fairer playing field for small- and mid-size farmers. In support of these efforts, USDA has finalized the first in a series of rules under the Packers and Stockyards Act, which is aimed at helping contract poultry growers compete more effectively and better understand the terms of their agreements with major processing companies...
Blue Apron Makes the Holidays a Breeze With an Assortment of Elevated Seasonal Offerings
Blue Apron (Nasdaq: APRN), the pioneer of the meal kit industry in the U.S., introduces its holiday menu with an assortment of elevated seasonal offerings designed to make celebrating a breeze. Through the end of the year, customers can choose from a selection of three limited-time meal kits, available with or without a subscription, in addition to premium recipes and Add-ons, making purchasing and planning simple.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20231107979714/en/...
Chipotle Names Ilene Eskenazi Chief Human Resources Officer
Chipotle Mexican Grill (NYSE: CMG) today announced that it has hired Ilene Eskenazi as its Chief Human Resources Officer. Serving on the Executive Leadership Team, Eskenazi will begin on November 27, and report to Chairman and Chief Executive Officer Brian Niccol.
Eskenazi comes to Chipotle from Petco Health and Wellness Company, where she served as Chief Legal and Human Resources Officer, overseeing compensation and benefits, human resources operations, talent management, as well as all legal matters. Prior to that, Eskenazi was the Global General Counsel and Chief Human Resources Officer at...
Campbell Appoints Charles A. Brawley, III Executive Vice President
Campbell Soup Company (NYSE:CPB) today announced the appointment of Charles A. Brawley, III as Executive Vice President, General Counsel and Corporate Secretary, effective Nov. 30, 2023. He succeeds Adam Ciongoli who has accepted a role at another company.
Brawley joined the company in 2016 and most recently served as Senior Vice President, Corporate Secretary and Deputy General Counsel, overseeing Campbell’s legal functions of corporate governance, securities law, and commercial contracts. In his expanded role, he will oversee the company’s Legal department, including Government Affairs, Global Security and...
Customers Can Now Get Amazon's Fast, Affordable Grocery Delivery Without a Prime Membership
Today, Amazon announced it is making grocery delivery and free pickup available to all customers in all U.S. cities and towns where Amazon Fresh is available for Prime members. This service expansion, previously available only to Prime members, makes it easier for all customers to get their grocery needs met both in-store and online.
“We’re always looking for ways to make grocery shopping easy, fast, and affordable for all of our customers. Now, all customers can order...
US Foods Reports Third Quarter Fiscal Year 2023 Earnings
US Foods Holding Corp. (NYSE: USFD), one of the largest foodservice distributors in the United States, today announced results for the third quarter fiscal year 2023.
Third Quarter Fiscal 2023 Highlights
Cultivated Meat Company Omeat Opens Pilot Plant in California
Omeat, a cultivated meat start-up based in Los Angeles, announced the completion of its state-of-the-art pilot plant, bringing the company a step closer to commercialization.
Located outside of Los Angeles, California, the 15,000-square-foot facility can house bioreactors up to 10,000L in size and has an annual production capacity of 400 tons.
The plant executes Omeat's vertical integration approach, where consumers can enjoy a "farm-to-table" experience. Olymel's first product is 80% lean/20% fat ground beef, which is created without GMOs, immortalized cells, engineered...
Jack Box Makes Appearance as ‘Sexiest Jack Alive’ in PEOPLE's Sexiest Man Alive Issue
Jack in the Box, Inc. (NASDAQ: JACK) announced today their mascot, Jack Box, will be included in PEOPLE's famed Sexiest Man Alive issue. The iconic Jack Box has become well known for more than just tacos: fans of the burger/taco aficionado have been posting to TikTok, Instagram, Wattpad and more to express their love (and dare we say, lust) for the brand’s fearless leader. They are so thirsty for Jack that they recently launched a petition on Change.org in hopes that PEOPLE...
China Issues Ban on Irish Beef After Atypical Case of BSE Confirmed
Beef exports to China from Ireland have been stopped after a case of atypical bovine spongiform encephalopathy (BSE) was detected in a bovine animal.
In a statement seen by Irish media outlets, the Department of Agriculture, Food and the Marine (DAFM) said that tests carried out at the department’s Central Veterinary Research Laboratory confirmed a case of atypical BSE on 3 November.
It is reported that the animal in question was a 10-and-a-half-year-old cow. It did not enter the food or feed chain...
Hearn Kirkwood Issues Safety Alert on Undeclared Soy and Milk in Various Croissant Sandwiches
Hearn Kirkwood of Jessup, Md., is issuing a voluntary recall of 5,895 clamshell containers of various Croissant Sandwiches because its labeling did not identify the following allergens in the product: soy and milk. People with an allergy or severe sensitivity to these allergens run the risk of a serious or life-threatening allergic reaction if they consume this product. Customers with allergies or sensitivities to soy or milk should discard the product.
The affected sandwiches were distributed from October 20, 2023 and November 3, 2023...
Circana’s 2024 Food and Beverage Outlook Predicts Modest Volume Growth Following Three-Year Decline
Beverage and deli categories expected to outperform total food and beverage unit sales
Circana™, formerly IRI and The NPD Group, today released its 2024 food and beverage outlook, revealing that modest food and beverage volume growth is expected next year after three consecutive years of volume declines. The forward-looking outlook provides insight into the anticipated performance of the food and beverage industry throughout 2024, pointing to a more favorable landscape as several headwinds that weighed down 2023 are expected to recede...
New FMI Holiday Season Trends Survey: Grocery Shoppers Exhibit Cautious Optimism Ahead of Holiday
Despite ongoing concerns about high prices, shoppers are optimistic about their financial situations heading into the holidays and are finding ways to feed their families and meet their needs at the grocery store, according to FMI—The Food Industry Association’s new U.S. Grocery Shopper Trends, Holiday Season report.
“While consumers are understandably concerned about their finances amidst continued inflation heading into the holidays, shoppers are proving to be just as resilient when it comes to preparing for their holiday meal celebrations,” said FMI President and CEO...
The Retail Rundown: Tuning in to Holiday Turkey Features
For this week's retail rundown, we're tuning in to holiday turkey features as Thanksgiving inches closer. Grocers are making room for the big bird in their meat cases and freezers for the millions of turkeys that will be gobbled down in two weeks.
Seafood maintains the top spot among protein ads with 23.8% of features this week. Turkey ads captured nearly 9% of protein features this week, up from 6.9% the previous week. Within the turkey complex, frozen whole turkey features account for 56.5% of features, up from 25% a week...
Corn Harvest Up to 81% Complete, Soybeans Near Completion
The corn harvest has reached 81% completion as of Sunday, November 5. This compares to the 5-year average of 77% at this time.
Most of the corn harvest typically wraps up in late November, though some states harvest well into December.
December corn is currently trading at $4.74 ¼ per bushel, down 3 cents. Traders and industry participants await Thursday’s USDA WASDE report, scheduled for release at 12:00 pm EST.
The soybean harvest is 5 points ahead of the 5-year average rate at 91% completion. Louisiana reports...
Sprouts Farmers Market Partners with Instacart's FoodStorm to Enhance Holiday Catering Services
Sprouts Farmers Market, one of the largest and fastest growing specialty retailers of fresh, natural, and organic food in the United States, and Instacart (NASDAQ: CART), the leading grocery technology company in North America, today announced a new partnership to launch FoodStorm, Instacart's order management system (OMS), across all of Sprouts' 400+ locations. The new partnership will help streamline Sprouts' existing catering operations and modernize its holiday inventory management, ensuring a seamless holiday season experience for its customers and store team members...
Roy Rogers Restaurants Expands Partnership with Trevelino/Keller to Drive Consumer Engagement
Trevelino/Keller (T/K), recognized for its relevant and successful work with classic restaurant concepts, today announced an expanded partnership with Roy Rogers Restaurants. After more than two years of supporting Roy Rogers’ franchise sales business, Trevelino/Keller will now support the nostalgic cowboy brand with its consumer marketing initiatives.
With a track record of driving growth and success for some of the country’s most iconic restaurant and franchise concepts, Trevelino/Keller has solidified its reputation as a leader in delivering outcome-driven solutions that build, launch and...
Golden State Foods Promotes Kate Starr to Group Vice President, Communications
Golden State Foods (GSF), one of the largest diversified suppliers to the foodservice and retail industries, is pleased to announce the promotion of Kate Starr to group vice president, communications, effective this week. Based in the company’s Irvine, California corporate global headquarters, Starr will collaborate with GSF’s support services groups and operational business units, as she leads the team that strategizes and produces all internal and external communications initiatives for GSF to meet company and customer objectives.
A GSF associate since 2019, Starr previously served as senior director, global...
November 14: PrimoHoagies Celebrates Customer Appreciation Day with $6.99 Primo-Size Hoagies
Beloved hoagie brand PrimoHoagies will host a Customer Appreciation Day on November 14 throughout all its locations in gratitude to its loyal customers. The brand was recently voted the #1 best sandwich shop in the USA Today 10Best Reader's Choice Awards, a recognition based on selection by a panel of industry experts and journalists as among the top 20 sandwich shops, followed by public voting to determine the winner. PrimoHoagies prides itself on crafting gourmet hoagies with high-quality meats and cheeses piled high on fresh-baked...
Grain Oversupply and Lower Feed Prices Bolster Ukrainian Livestock Industry
As Ukraine keeps experiencing difficulties exporting grain, domestic feed prices have been following a downward trajectory for several months.
During the past three months, domestic feed prices in Ukraine have plummeted, commented Maxym Gopka, an analyst with Ukrainian Agribusiness Club UCAB. As a result, in the pig industry, feed now accounts for a 19% lower share in production costs than in June, while in the chicken industry, this figure has dropped by 17%. Cheap feed helps the Ukrainian livestock industry.
"Prices are quite low, and this helps the industry to...
HelloFresh and Tinder Launch ‘Date Night Delights’ Recipe Series
HelloFresh, the world’s leading meal kit company, and Tinder, the world’s most popular app for meeting new people, are introducing a new relationship phase, Forking Season. New data gathered by HelloFresh has revealed that the fifth date is usually when couples go from casual to committed, typically through the power of a homemade meal. In fact, “Cooking” is among the top 20 Interests Tinder users add to their profiles. With 81% of Americans agreeing that hosting a date for a home cooked meal for the first time signals a relationship is...
Spend More Time Making Family Memories with Cracker Barrel's Holiday Heat n' Serve Meals
With the average American spending over nine hours in the kitchen preparing Thanksgiving dinner from scratch, Cracker Barrel Old Country Store® can handle the cooking – all season long – with convenient catering and holiday meal options for any size gathering.
Entertaining just got easier with the return Thanksgiving Heat n' Serve meals and new catering menu items like Country Fried Turkey and Broccoli Cheese Casserole. Plus, popular holiday dishes like Cinnamon Roll Pie are back by popular demand for dine-in or curbside pickup...
Tyson Foods Recalls Nearly 30,000 Pounds of Frozen Chicken Nuggets
Tyson Foods, Inc. is voluntarily recalling nearly 30,000 pounds of its frozen, fully cooked chicken “Fun Nuggets” due to consumer complaints of small metal pieces in the chicken patty product.
The product was produced on September 5, 2023, and was sold to retailers in 29-ounce packages.
In a notice issued Saturday, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) stated that the following product is subject to recall:
"WIN with White Castle" Kicks Off a New Season of Savings
At a time when prices continue to rise for everything from gas and groceries to cars and clothes, White Castle is providing some much-needed relief. Beginning Sunday, Nov. 5, and running through the end of the year, the iconic family-owned burger chain will roll out a series of high-value offers specifically developed for customers who are looking for ways to help their dollars go further.
The first two offers, part of the "WIN with White Castle" season of savings, are available beginning Nov. 5. First, customers can pick up a Cheesy 10 Sack for just $7.99 plus tax
Fairmont Foods, Inc., Recalls Frozen Spaghetti Loops With Meat Sauce Entree Products
Fairmont Foods, Inc., a Fairmont, Minn. establishment, is recalling approximately 147,132 pounds of frozen spaghetti loops with meat sauce entrée products due to misbranding and undeclared allergen, the U.S. Department of Agriculture’s Food Safety and Inspection Service (FSIS) announced today. The product contains egg, a known allergen, which is not declared on the product label.
The frozen not ready-to-eat spaghetti loops with meat sauce entrée products were produced on various dates from December 2022, through August 2023...
Circana Research Reveals 79% of Americans Will Celebrate Thanksgiving with Their Usual Traditions
Circana™, the leading advisor on the complexity of consumer behavior, today released its first Thanksgiving Tracker, offering vital insights into anticipated consumer behavior and purchasing trends for 2023 and looking back at similar trends from 2022. This comprehensive analysis will enable manufacturers, retailers and media organizations to make more informed decisions about merchandising and promotions to drive growth and profitability during the Thanksgiving season.
The week prior to and the week of Thanksgiving are critical sales drivers, although consumers also shop early for spot deals...
Fine-dining Initiative Underway to Differentiate U.S. Pork in Taiwan
USMEF kicks off a new campaign to revitalize U.S. pork’s image with the trade and consumers
Following setbacks that slashed exports of U.S. pork to Taiwan in recent years, demand has rebounded in 2023. Taiwan’s zero-tolerance policy for ractopamine residues and persistent trade tensions kept ractopamine in the public eye, creating a difficult business climate as U.S. exports plunged in 2021 and 2022.
While these headwinds linger, the business climate for U.S. pork has improved as supplies from Europe and domestic producers have...
Steakholder Foods Significantly Reduces Cost in Growth Media For Bovine Cell Cultivation
The Specialty Food Association (SFA) put out their 2024 trends predictions last month, which listed cell based options as a trend that would gain popularity. While the USDA did grant regulatory approval for the sale of cultivated meat earlier this year, another trend that has repeatedly been highlighted is the consumer’s desire to shop for affordable options. And affordability is not what comes to mind when discussing cell cultivated meat and seafood. But Steakholder Foods may be changing that...
Oil Up 2% Ahead of Fed Meet as Middle East Conflict Rages
Oil prices rose more than 2% on Wednesday ahead of the keenly watched meeting of the U.S. central bank for clues on interest rate policy, while the conflict in the Middle East remains in focus.
Brent January crude futures were up about 2.5%, or $2.08, to $87.10 a barrel by 1316 GMT. U.S. West Texas Intermediate crude futures gained roughly 2.8%, or $2.24, to $83.26 a barrel.
The Fed, which will end its meeting on Wednesday, is widely expected to hold rates steady...
Cargill’s Newly Expanded Soybean Processing Plant in Sidney, Ohio to Connect Local Farmers to Demand
Cargill has completed an expansion and modernization project at its integrated soybean crush and refined oils facility in Sidney, Ohio. The upgraded facility, which came online in September, will help Cargill better serve farmers and meet the growing demand for soy products across food, feed and renewable fuel markets.
The project nearly doubles the previous crush capacity at the facility, providing greater market opportunities for area farmers and feed customers through creating demand for soybeans and offering greater access to soybean meal and hulls...
Publix Reports Third Quarter 2023 Results and Stock Price
Publix’s sales for the three months ended Sept. 30, 2023 were $14 billion, a 7.2% increase from $13 billion in 2022. Comparable store sales for the three months ended Sept. 30, 2023 increased 4.3%.
Net earnings for the three months ended Sept. 30, 2023 were $833 million, compared to $394 million in 2022, an increase of 111.4%. Earnings per share for the three months ended Sept. 30, 2023 increased to $0.25 per share, up from $0.12 per share in 2022. Excluding the impact of...
TGI Fridays Names Weldon Spangler as Chief Executive Officer
Weldon Spangler, a longtime TGI Fridays board member and highly experienced restaurant executive, has been appointed CEO of TGI Fridays, effective immediately. He succeeds Brandon Coleman, who has resigned for personal reasons.
Mr. Spangler will lead implementation of the growth plan to revitalize the iconic brand on a global scale. There are currently 700 TGI Fridays restaurants in 51 countries offering high quality American food and drinks.
Mr. Spangler brings extensive background in the restaurant industry and his impressive career spans over 30 years of experience, during...
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