Industry News

Grocery store sales increased 3.7% from the prior year during February to nearly $42 billion, the largest such gain since March 2010. Foodservice sales, meanwhile, rose 3.3% to $37.8 billion, according to just-released data from the U.S. Census Bureau. Full Report

Wal-Mart Stores Inc. is considering acquisitions that can help the company meet its goal of operating "hundreds" of smaller-format stores over the next three years. In addition, the Neighborhood Market format will be renamed Walmart Market, reported Bloomberg.com. Full Story

Walmart will launch a full-scale, national rollout of "Pick Up Today" later this month. The service enables customers to purchase items online and receive free same-day pickup at a local Walmart store. Full Story

99 Cents Only Stores' board of directors received a proposal from members of the Schiffer/Gold family, together with Leonard Green & Partners, L.P., to acquire the company in a "going private" transaction for $19.09 per share in cash. The Schiffer/Gold family owns approximately 33% of the company's outstanding common stock, and they are prepared to contribute a substantial portion of their existing company stock ownership as part of the proposed transaction. Full Story

Recording Now Available! The Food Institute, NPD Group and the Private Label Manufacturers Association (PLMA) presented a one-hour webinar entitled Private Label: Consumer Perceptions & Intentions. Whether private label offers you an opportunity or a threat, this presentation is not to be missed! Know and understand today's private label shopper! To learn more and purchase the recording, click here.

Kraft Foods entered into a multi-year partnership with HSN. The partnership will combine content and commerce across multiple platforms and will allow consumers to purchase HSN cooking products on Kraftfoods.com's recipe pages while enabling them to access Kraft Foods content on HSN.com and other HSN distribution channels. Full Story

Latest sales & earnings for food related companies (Updated Daily - FI Membership Required)

Food Institute News

Recording Now Available for Purchase! The Food Institute presented Understanding the New Food Safety Legislation, a webinar designed for those who want and need to understand the impact of the new food safety legislation. John W. Bode, Principal at Olsson Frank Weeda Terman Bode Matz PC, and Dr. David William Kennedy Acheson, Managing Director, Food and Import Safety Practice, at Leavitt Partners were the speakers. To purchase the recording and learn more, click here.

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International News

Senators from Mexico's Institutional Revolutionary Party submitted a bill that would tax most food. The proposal would subject food to the country's 16% value-added tax (VAT) rate, although some staples including raw meat, milk, sugar and tortillas would be exempt. The proposal would also raise the VAT rate on the northern border to the same rate as in the rest of Mexico, reported Reuters. Full Story

Health News

Drinking more than a cup of coffee a day was associated with a 22% to 25% lower risk of stroke in women compared with those who drank less, according to a study published in Stroke: Journal of the American Heart Association. Full Story

Washington News

Movie theaters and grocery stores are lobbying FDA to avoid proposed menu labeling requirements, reported Bloomberg Businessweek. National Association of Theatre Owners is recommending FDA exempt companies that get less than 35% of gross revenue from food sales. Meanwhile, FMI claims "there's no indication that the Congress ever intended to regulate supermarkets." FDA plans to issue the proposed regulation by Mar. 23. Full Story

Illinois' Attorney General filed an Antitrust action against four packaged ice manufacturers alleging the companies illegally conspired not to compete against each other for packaged ice business in Northern and central Illinois. The companies named are: Lang Ice Co., Home City Ice, Sisler's Dairy and Products, Inc. and Tinley Ice Company. Full Story

The Daily Update is a substantially abbreviated version of Today In Food. You can get a subscription to Today In Food, which usually has over 30 news items each day, as well as access to the archives for just $49.95 per year. Click here to sign up.

Market News

Yuma, AZ romaine lettuce prices crossed the $40 mark for the first time this winter as February ended, and buyers hoping for relief are unlikely to get it before the start of California's Huron and Salinas deals. As the ripple effects of an early February freeze and other crop issues played out, 24-count cartons of romaine were $40.65 to $42.95 on Mar. 7, according to USDA. Year-ago prices were about $9 to $11, reported The Packer Online. Full Story (Subscription Required)

IRAQ – Opportunities for U.S. Businesses On Mar. 23, the New York U.S. Export Assistance Center, in conjunction with JP Morgan, will host a half-day seminar in NYC discussing the business opportunities for U.S. companies in Iraq. The seminar will give attendees a greater insight into the types of opportunities for U.S. companies in the reconstruction efforts in Iraq. Register Now!