Foodservice operators and distributors need to have facts at their fingertips every day to compete in a crowded marketplace where business requires knowing consumer trends as well how much that will cost. Foodservice members of the Food Institute will be able to:
Starbucks is transforming its store formats. For example, it will speed up plans to build stores with drive-thrus and will close locations in unpopulated malls. Originally, the company's plans for this transformation were to be over a three- to five-year period, but will now occur over the next 12 to 18 months. Food Institute Focus
Chipotle Mexican Grill's margins are set to benefit from a resurgent avocado supply that will keep prices lower at least through the summer, according to a SunTrust analyst. He estimates avocados account for only 5-10% of Chipotle's cost of goods sold, but volatility in recent years has had an "outsized impact" on the chain's margins, reported Bloomberg. Full Story
Uber spent $19 million as of mid-May in direct two-week financial assistance to nearly 48,900 drivers worldwide who were infected by the virus or ordered to quarantine. Under the program, North American drivers received an average of nearly $650, but payout amounts varied by location, with Uber limiting the maximum payment per city and calculating support based on prior earnings, reported Reuters. Full Story
Jollibee Foods Corp. will spend $138 million to transform its business structure in its biggest markets, which are the Philippines, China, and North America. The plan, which includes tweaking the supply chain, changes in resources deployment, imposing social distancing in dining areas, pursuing mobile apps for ordering and payment, and building cloud kitchens in low-rent sites is expected to put Jollibee in a "much stronger" footing for 2021, reported Bloomberg. Full Story
Upper Saddle River, NJ (February 11, 2020) - The Food Institute, a New Jersey-based news and market research company founded in 1928, is proud to announce the appointment of Richard Bei as Chief Operating Officer and Head of Data Science.
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