Food retailers have little time to keep on top of business intelligence. The Food Institute allows its retailer members to have more time taking care of the business by offering brief, concise and timely reports on the trends and developments they need to know about.
Farmers are in demand. For instance, farmers in rural America are expanding food delivery to meet rising demand from consumers, particularly in areas of the country where grocery delivery services are not widely available. Many farmers are focusing on direct-to-consumer sales amid declining demand from local restaurants and are offering contactless delivery of items like fresh produce and frozen meats. Food Institute Focus
US Foods Holding Corp. drew $1 billion under its existing revolving credit facilities to retain as cash on hand during the coronavirus outbreak. The company also secured new opportunities to sell to retail outlets like grocery stores and to contract some of its distribution workforce to companies experiencing increased demand. These actions are expected to partially mitigate the declines in sales to restaurants, hospitality, and education customers. Full Story
Target Corp.'s sales of food and household goods are surging, but the retailer may report lower-than-expected profits as demand falls for high-margin goods and it becomes more expensive to staff and clean stores. Sales of household essentials, food, and beverages have risen more than 50% in March, but the company expects changes to worker pay and cleaning routines to cost more than $300 million during the current quarter. It will pull back on its plans to remodel around 300 stores this year and open only 15 to 20 new small-format stores, instead of the 36 previously planned, reported The Wall Street Journal. Full Story (WSJ Subscription Required)
Walmart, Kroger, Giant Foods, and Albertsons are installing plexiglass barriers and partitions to prevent the spread of coronavirus between shoppers and store employees. Walmart started installing the barriers at its pharmacies and will begin installing at regular registers over the next two to three weeks, while Kroger, Giant Foods, and Albertsons will roll out the initiative over the next few weeks, reported USA Today. Full Story
Meanwhile, Publix Super Markets plans to install plexiglass partitions to protect its cashiers at all 1,200 locations within two weeks. However, a company spokesperson said it isn't allowing masks and gloves at cash registers, noting "FDA and CDC do not recommend face masks for those working in the food industry," and if workers are sick, they should stay home, reported Orlando Business Journal. Full Storyread more
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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