Have you ever thought that what you see is sometimes different from what you are really seeing?
The famous Arcimboldo's "Vegetables In A Bowl Or The Gardener" painting is a clear example ....
For the quarter ended July 3, the company had earnings of $279.1 million up 34% from $207.9 million during the same quarter of the previous year. Revenue for the quarter was $2,932.2 million, up 12% from $2,612 million.Operating income for the US segment was $378.6 million, up 30% from $292.3 million during the same quarter of the previous year. Revenue for the segment was $2,013.9 million, up 9% from $1,852.9 million.For the nine months ended July 3, the company had earnings of $887.4 million up 33% from $666.7 million during the same period of the previous year. Revenue for the nine months was $8,668.7 million, up 10% from $7,869.4 million.
US hotel foodservice revenue is poised to increase 5% as the economy recovers and the industry undergoes a “reinvention” that includes new menu concepts featuring fresh, “natural” and “local” foods, according to a recent report by market researcher Packaged Facts.In the wake of the 2008-2009 recession, the hotel industry is adjusting to changing consumer expectations, adding new or revamped menus that are “reshaping how hotel guests experience hotel food and beverage offerings.”New menu concepts capitalize on guests’ desire for “on-trend gourmet fare” and “better-for-you options,” including fresh, natural, and local foods, as well as vegetarian and allergen-free items, Packaged Facts said.The increasing emphasis on local and natural menu items ties in with broader initiatives toward healthier foods, said David Morris, a consultant and the Chicago-based author of the Packaged Facts report.Many hotels are adding more fruit selections to breakfast menus, while some nationwide chains, including Marriott International, Inc., and Starwood Hotels & Resorts, have recently promoted locally grown produce or farmers market offerings, Morris said.Food retailers and restaurants have scaled up locally grown offerings in recent years to capitalize on consumer perceptions that such products are safer and healthier.Hotel foodservice revenue bottomed out in 2009 as consumers and businesses cut back on travel and related expenditures such as meals and entertainment, Packaged Facts said. The projected 5% revenue rise this year will be driven “primarily by higher hotel occupancy rates and related travel expenditures,” the researcher said.This year’s estimated increase follows a 3% revenue gain in 2010, to $22 billion, the researcher said, with “moderate” growth expected to continue through 2012.Source: The Paker
Food giant Nestlé has teamed up with Tetra Pak to launch a cap made from 100% renewably sourced materials for two of its Brazilian milk brands.This is the first ever launch of a polyethylene (PE) cap made out of sugar cane derivatives.The new renewable material has been developed by Braskem, Brazil’s largest petrochemical company.
Walmart is adding more locally grown produce, reducing transportation costs and giving consumers what they want. Walmart's goal is to make 9% of its produce local by 2015.All of Walmart's jalapeno peppers came from California, Florida or Mexico a decade ago. Farmers in 30 states are growing them this year, twice as many as last summer."We can get chili peppers from Florida all day long, but at the end of the day, that is not necessarily the best model for us," Darrin Robbins, Walmart's senior manager for produce, tells to the Wall Street Journal. "I am going to pay a higher price in Ohio for peppers, but if I don't have to ship them halfway across the country to a store, it is a better deal."Source: The Wall Street Journal
Publix’s sales for the second quarter of 2011 were $6.6 billion, a 5.8% increase from last year’s $6.2 billion. Comparable-store sales for the second quarter of 2011 increased 4.2%.Net earnings for the second quarter of 2011 were $382.4 million, compared to $348.4 million in 2010, an increase of 9.7%.Publix’s sales for the first half of 2011 were $13.4 billion, a 5.1% increase from last year’s $12.7 billion. Comparable-store sales for the first half of 2011 increased 3.5%.Net earnings for the first half of 2011 were $780.5 million, compared to $712.8 million in 2010, an increase of 9.5%.
Winn-Dixie Stores, Inc. announced preliminary financial results for the fiscal year and fourth quarter ended June 29, 2011. These preliminary results remain subject to the year-end audit process.For the full fiscal year, the Company expects to report net sales of approximately $6.9 billion compared to $7.0 billion for the prior fiscal year (which included an extra week), reflecting a 0.1% decrease in identical store sales. Net loss from continuing operations is expected to be approximately $30 million or $0.54 per diluted share, compared to net income from continuing operations of $37 million or $0.67 per diluted share for fiscal 2010. The Company expects to report full year Adjusted EBITDA of $114 million, compared to $151 million for fiscal 2010.For the fourth quarter of fiscal 2011, the Company expects net sales of approximately $1.6 billion, as compared to $1.7 billion for the fourth quarter of fiscal 2010 (which included an extra week), reflecting a 3.2% increase in identical store sales. Net income from continuing operations for the fourth quarter of fiscal 2011 is expected to be approximately $5 million compared to net income from continuing operations of $16 million for the fourth quarter of fiscal 2010. Adjusted EBITDA is expected to be approximately $38 million for the fourth quarter, compared to $42 million for the fourth quarter of fiscal 2010.
New fees related to the Food Safety Modernization Act have been announced by the Food and Drug Administration. An August 1 notice in the Federal Register said the fee rates will be effective October 1 and will remain effect through September 30, 2012.The fees apply to domestic and foreign facility reinspections, failure to comply with a recall order and importer reinspections, according to the notice.The FDA said the fees would be billed on at a rate of $224 per hour for direct work of FDA staff, excluding foreign inspection travel costs. The agency plans to charge $335 per hour for direct staff work requiring travel to another country.Source: The Packer
Of more than 160,000 US resident who voted on an msnbc.com survey on self checkout, about 35% said they loved self-checkout lanes while 37% said they hated them.About 28% said they used them when they had to.
Food prices in the US may be rising faster than the government forecast as companies including Coca-Cola Co., Safeway Inc. and Chipotle Mexican Grill Inc. pass higher commodity costs on to consumers.Rallies in meat, grain and dairy products since February may mean the increase in food costs will surpass the 3 to 4% that the US Department of Agriculture (USDA)predicts, said Christopher Hurt, an agricultural economist at Purdue University in West Lafayette, Indiana. The USDA left its forecast for this year’s gains unchanged and said 2012 prices will increase 2.5 to 3.5%.Food inflation was “stronger than expected” at Pleasanton, California-based Safeway supermarkets, with prices rising 2 percent in the second quarter, Chairman and Chief Executive Officer Steven Burd said July 21 on a conference call with analysts.Food and fuel increases have hurt demand, “and that’s particularly true for that segment of our shoppers that believe we’re still in a recession, which is the largest segment” of customers at Safeway, the fourth-largest US supermarket chain by sales, he said
US retailer Kroger Co. has selected Oracle's Agile Product Lifecycle Management (PLM) for Process to establish a platform for continually improving the customer experience.Kroger is implementing the Oracle systems as part of a strategic initiative called the Customer 1st mission in which the company is transforming business operations to improve the customer experience and deliver the highest quality products and services.Kroger will use Agile PLM for Process to integrate and streamline all aspects of product development, including managing specifications, suppliers, formulations, packaging and labeling, compliance, and quality.Kroger selected the Oracle solution based on deep functionality for grocery operations, including the ability to support all of the different types of food and non-food products offered within their stores.Kroger also required a solution provider that offered a complete end-to-end suite of integrated applications and that demonstrated the ability to continue to innovate and enhance grocery solutions.Oracle's Agile PLM helps companies to shorten cycle times, increase sales and reduce risks associated with innovating new products
For the quarter ended July 3, the company had earnings of $279.1 million up 34% from $207.9 million during the same quarter of the previous year. Revenue for the quarter was $2,932.2 million, up 12% from $2,612 million.
