Sysco Corp.’s fiscal second-quarter results came in below analysts’ estimates on pandemic-related constraints, with the Houston-based food distributor posting adjusted earnings of $0.17 per share, well under the Zacks consensus estimate of $0.35 per share …
After raising an eye-opening $3.4 billion in its IPO, DoorDash is spending its funds strategically. For starters, the delivery company is acquiring meal preparation startup Chowbotics. DoorDash’s revenue rose 226% year-over-year, to $1.92 billion, in …
Now, more than ever, food companies are leveraging loyalty programs to generate sales. At the same time, customers are demanding them. Wade Hanson, Principal with Technomic Inc., said the Baby Boomer generation especially values loyalty programs like the Royal Perks initiative recently launched by Burger King. “Boomers are …
Historically, Environmental, Social and Governance (ESG) factors have taken a back seat to financial performance in the corporate world. And in the interest of performance measurement, companies have often made short-term profit decisions at the …
Hotel occupancy in the U.S. fell to a record low 44% in 2020, according to travel research firm STR. “2020 was a complete wash due to international travel restrictions amongst various countries and also within …
Major food companies are increasingly placing importance on Environmental, Social, and Governance (ESG) practices. Corporations like Nestle, Danone, and McDonald’s have found that ESG initiatives are necessary to meet the demands of today’s consumers. Nestle, …
While Sunday’s Super Bowl will be the perfect platform to highlight the changing of the guard between superstar NFL quarterbacks Tom Brady and Patrick Mahomes, the food industry will also have some significant changes on …
By most accounts, it’s not a matter of if, but when. The minimum wage appears to be headed towards $15 in much of the U.S., if not all, in the near future. And restaurant chains are bracing for that impact. “Restaurants need to engineer …
With the pandemic keeping consumers away from restaurants, bars and other establishments, the growth in at-home alcohol consumption continues. When the pandemic began, Americans turned to convenient, familiar alcohol and bought name brand items in …
We’ve come a long way from fighting off a cold with grandma’s chicken soup. From the healthier products touted by food and beverage companies to the renewed focus of consumers on better nutrition and wellness …
Super Bowl parties may look different this year, but food will still be a major part of them. Frito-Lay estimates a 21% increase in snacking vs. previous Super Bowls as more consumers plan to watch …
Foodservices’ latest quarters have seen mixed results as restaurants continue to cope with pandemic-related losses. In 2020, restaurant and foodservice industry sales fell by $240 billion, from an expected level of $899 billion, according to …
Tim Hand and Bruce Reinstein, partners with food industry consulting firm Kinetic12, and Wade Hanson, principal with foodservice consulting firm Technomic, participated in a webinar yesterday hosted by The Food Institute and DMA titled “2021 …
As consumers largely continue to stay home during the COVID-19 pandemic, several food brands have shifted to a direct-to-consumer (DTC) model. Bimbo Bakeries USA was one such brand who recently launched a DTC platform. And, …
Some upstart brands that saw strong sales in 2020 will keep the momentum going by airing Super Bowl advertisements for the very first time. Other, more established brands are directing traditional ad budgets for the …
The meal kit and fresh food segments have experienced tremendous growth over the course of the pandemic on a combination of limited dining-out options, families with little time to spare for preparing and cooking food, …
Restaurant chains are getting a sales bump from the latest round of stimulus money, but if patterns mimic the first round, the lift could be short-lived. STIMULUS IMPACT While the amounts given in the roughly …
A record 54% of Americans between the ages of 24-39 are incorporating more plant-based foods into their diets this year, according to a survey commissioned by Sprouts Farmers Market. WHY ARE CONSUMERS ALIGNING WITH THE …
Editor’s Note: This article was excerpted from the January 2021 edition of the Food Institute Report. To read more articles regarding food industry news, leadership, markets, commodities, and regulatory issues, consider a membership with the …
Though not requiring workers to get COVID-19 vaccinations, some food retailers are incentivizing them to get the shots. Among the first to do so was Dollar General, which offered employees four hours of pay to …
An estimated one-third of all the food produced in the world goes to waste, likely enough calories to feed every undernourished person on the planet. But wasted food isn’t just about food insecurity. It’s also …
With the coronavirus pandemic raging throughout much of the U.S., countless restaurant owners have faced indefinite closures. When dealt with that situation himself, Marc Epstein took matters into his own hands. Epstein, owner of The …
New data provided by the U.S. Bureau of Labor Statistics note that food prices are up due to demand. The food index rose in December, as both food at home and the food away from …
Chipotle’s online business soared during 2020, making up more than half of sales. With that, the digital boom is likely leading the company to consider more drive thrus and introduce breakfast options. DRIVE THRUS COULD …
Employers across the U.S. decreased hiring in December, as COVID-19 cases were up and cities reimposed business restrictions. Throughout the month, job losses were largely concentrated among restaurants, bars, hotels, casinos, and other entertainment venues, …
Shake Shack is starting 2021 by spicing up fast food’s chicken sandwich war. The chain is rolling out the Korean-style Fried Chick’n Sandwich and Korean-style Gochujang Chick’n Bites, reported CNN (Jan. 5). Though the new …
Since the beginning of the pandemic, indoor dining has been a point of contention for restaurants. After being banned for some time — leaving restaurants to rely on outdoor seating – indoor dining was brought …
The coronavirus pandemic, and its subsequent restrictions, sent a shockwave through the U.S. job market in 2020, causing a ripple effect felt through much of the labor force. In short order, many jobs shifted, creating …
If 2020 proved anything, it’s that Americans simply can’t get enough hot chicken and pizza and pandemic lockdowns only strengthen the country’s demand for the two delivery staples. With many consumers preferring to eat at …
From Washington DC to farm fields throughout much of the country, the acronym ESG has become a rather hot-button issue of late. Environmental, social, and corporate governance (ESG) is a movement that’s undeniably gathering steam, …
After months of uncertainty, 2021 looks more promising than one might assume for the food industry. For starters, Congress’s recent COVID-19 relief bill should provide a measure of assistance to restaurants and beer manufacturers alike. …
A new variant of COVID-19 and increasing concerns about the country’s exit from the European Union are causing significant problems in the U.K. days before Christmas. NEW COVID-19 VARIANT PUTS LONDON IN LOCKDOWN London and …
There is no doubt that restaurants have been beaten down during the COVID-19 pandemic. More than 110,000 restaurants have closed permanently or for a long period of time throughout the U.S., while others face uncertainty as many …
While some people have strayed from regular diet and exercise routines over the course of the pandemic, others have capitalized on the new stay-at-home lifestyle by focusing on wellness. Against this backdrop, and ahead of …
Food companies are showing their appreciation for employees in several ways as 2020 comes to a close. Chipotle has paid out over $40 million in bonuses and assistance pay to employees during COVID-19, reported QSR …
With limited quantities of the COVID-19 vaccine available, many groups a seeking priority for their employees—including the food industry. Administration of the vaccine began on Dec. 14 in the U.S. with early doses being set …
