Industry News

Starbucks Corporation lowered its U.S. store opening targets for fiscal 2008 to approximately 1,020 new stores. Starbucks plans to open significantly fewer new stores in the U.S., over the 2009 to 2011 period, to less than 400 net new stores per year, opening approximately 250 company-operated stores in each of the three years. At the same time, the company plans to continue to accelerate its international unit expansion, targeting net new store openings as follows; approximately 1,050 in 2009, 1,150 in 2010, and 1,300 in 2011. Full Story

Meanwhile, Starbucks CEO Howard Schultz outlined the company's plan to introduce three new beverage platforms: the energy beverage category, a health and wellness platform, and a new category of beverages that can be fruit-based, dairy-based, or yogurt-based. Mr. Schultz also plans to enhance the company's complementary food offerings. Full Story

Winn-Dixie transformed 47 of a total 520 stores since its remodeling project began last spring; another 50 or so will be finished by the end of June. Company officials say the new look is paying off, with sales up an average 12% at remodeled stores, according to Winn-Dixie's most recent earnings release in February, according to The Lakeland Ledger. Full Story (Free Registration Required)

The Great Atlantic & Pacific Co will most likely focus next on the Food Basics Discount format, after the company completes the Pathmark integration, said Christian Haub, A&P's executive chairman, at Lehman Brothers' 11th Annual Retail and Restaurant Conference. Haub sees a lot of potential for the banner in the U.S. Real growth for the format would come through new locations, he noted, particularly existing properties A&P would acquire and convert, reported Progressive Grocer. Full Story

Sun Capital Partners Inc. is reportedly the final bidder for Macaroni Grill, according to The Deal, a financial media company. The asking price for the chain is $190 million, with a sale to be announced by June 25, reported Dallas Business Journal. Full Story (Free Registration Required) Sun Capital Partners was involved in six significant mergers and acquisitions in 2007, contributing to the 20.3% increase from the previous year in purchases made by investment firms & banks overall, according to the Food Institute's annual Food Business Mergers & Acquisitions report. For more information about the report, click here. FI Members click here to see what transactions have occurred so far in 2008.

Food Institute News

REGISTRATION DEADLINE APPROACHING! Health & Wellness: Opportunities for the Food Industry - A Webinar presented by The Food Institute and Mintel

Join The Food Institute and Mintel on Wednesday, May 14, 2008 at 2PM (EST) for an insightful webinar that will explain how food manufacturers and marketers can target today's health & wellness oriented consumers. This 1-hour webinar, led by Lynn Dornblaser, Mintel Custom Solutions Director, will focus on health & wellness issues pertaining to food and beverage, revealing what drives consumer purchase behavior. It will take a look at how consumers perceive health & wellness, the abundance of messages concerning health issues, and the types and number of products on the market making health & wellness claims. Lastly, Dornblaser will provide some interesting thoughts for the future. For more information or to register click here.

Seminis Vegetable Seeds, Inc. The Processor Team of Seminis Vegetable Seeds draws on the vast resources of the world's largest vegetable seed company to provide the vegetable processing industry with the finest products available. Headquartered in Oxnard, CA, Seminis offers industry-leading bean, pea, sweet corn and pickle varieties that have proven themselves in the field, in the plant and on the dinner plate. Starting with research and continuing on through seed production, sales and service, Seminis works with processors to bring quality vegetables to consumers throughout the world. To learn more aboutthis 44-year Food Institute member visit: www.seminis.com. Interested in seeing your company featured here? Email us for more details.

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International News

China's Ministry of Commerce urged local authorities to strictly control grain and fertilizer exports and expand storage of farm produce to ensure domestic supply, China's latest effort to stabilize agricultural production and food supplies. Food prices rose 21% year-on-year in the first quarter, mainly driven by farm produce, according to China Daily. Full Story

Health News

Consumers may be able to lose weight without cutting back on food intake, according to Australian researchers who found that by manipulating fat cells in mice they were able to speed up metabolism. By removing a particular enzyme, mice were able to eat the same amount as others but burn more calories and gain less weight, reported BBC News. Full Story

Washington News

Responding to a petition from the Quaker Oats Company, FDA is amending its regulation authorizing a health claim on the relationship between soluble fiber from certain foods and risk of coronary heart disease. The amendment exempts certain foods from the nutrient content requirement of "low fat." The exemption will apply if the food exceeds the "low fat" requirement due to fat content derived from whole oat sources and expands the use of this health claim to some whole oat products that are currently ineligible for the health claim, such as Quaker Oats Co.'s flavored reduced sugar instant oatmeal products. Full Notice

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

The U.S. dominates the market for sweet corn in Korea estimated at $42 million, where half of all imported sweet corn is sold through the retail sector for home use and half is sold through the foodservice sector. Under the U.S.-Korea free trade agreement, the current 15% tariff will be reduced to zero in five equal, annual installments. A new report on this market, looks at how U.S. canners and freezers might enter this market as a result. USDA/FAS Report