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| The Food Institute, 10 Mountainview Road, Suite S125, Upper Saddle River, NJ 07458 Phone: 201-791-5570 Fax: 201-791-5222 www.foodinstitute.com | |
August 19, 2011Industry News
Burger King will change its target demographic to Moms instead of teens in an attempt to increase sales. The company will modernize stores over the next year and reintroduce the Breakfast Croissan'wich, reported USA Today. 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. Independent grocery chains are finding success in food deserts by catering to the specific tastes of customers in individual stores. Half of Philadelphia grocer Jeff Brown's 10 ShopRite supermarkets are in food deserts. The newest 66,000-sq. ft. store has a separate halal meat section for the area's Muslim shoppers; sales at the store top $40 million a year, reported Reuters. Full Story Some retailers and restaurants are raising consumer prices to help compensate for higher labor costs, which increased the most in almost three years during the second quarter. Fifty-three percent of these companies with annual sales of $10 million to $500 million lifted prices during the last 12 months, up from 32% a year ago, according to a quarterly survey by Barlow Research Associates, reported Bloomberg.com. Full Story Millennials gather information on products and services from more channels than Non-Millennials, and reported using a mobile device while shopping to research products (50% versus 21%), according to the American Millennials: Deciphering the Enigma Generation report from Barkley in partnership with Service Management Group and The Boston Consulting Group. Additionally, Millennials accounted for 18% of their monthly restaurant spend in the fast-casual format, compared to only 13% for Non-Millennials. Full Story Latest sales & earnings for food related companies (Updated Daily - FI Membership Required)
Food Institute News
* Members only International NewsPactiv Foodservice/Food Packaging will open a multi-million dollar facility in Mexico City to better service the growing Mexican market. The proposed facility will offer a full range of paper, foam and plastic cups and tableware. Full Story MTY Food Group Inc.'s wholly owned subsidiary MTY Tiki Ming Enterprises Inc. entered into a binding agreement to acquire the assets of Mr. Submarine Ltd. for total consideration of $23.3 million in cash. Closing is expected on or before Oct. 31. Full Story In addition, MTY Food Group Inc.'s wholly owned subsidiary MTY Tiki Ming Enterprises Inc. also entered into a binding agreement to acquire the assets of Koryo Korean BBQ Franchise Corp. for total consideration of about $1.8 million in cash. Closing is expected on or before Sept. 30. Full Story
Washington News
FNS is requesting information from the public on nutrition information and ingredient lists made available to schools participating in the National School Lunch Program and the School Breakfast Program. The agency is interested in examining what nutrition information and ingredient lists are made available to schools, the manner and scope of the information's accessibility and how that information and accessibility compare with the information schools may be seeking. Full Notice
Market NewsThe Oregon Dungeness Crab Commission landed more than 21 million-lbs. of the crabs in the nine-month season ended Aug. 14. The average annual harvest over the past 30 years is about 12 million-lbs., reported OregonLive.com. Full Story (Free Registration Required)
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FI's Mission: The Food Institute strives to be the best "single source" for current, timely and relevant information about the food industry from "farm to fork." The association serves as a trusted source of information, providing balanced coverage of the issues. It delivers information through multiple media so that industry professionals worldwide can tap in when and how they choose. For more information, visit, http://www.foodinstitute.com. |
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