Weekly Food Industry Report: May 31, 2013
Every week, we take a look into the biggest financial news to emerge from the world of food. Here is this week’s:
Sanderson Farms, Inc: Sanderson Farms, Inc. reported their second fiscal quarter results on May 30. Their net sales increased by 4.4 percent, with demand for chicken products remaining strong, especially regarding frozen whole chickens and boneless breasts, but bulk legs and wing prices remained flat.
AFC Enterprises, Inc: AFC Enterprises, Inc., who operates Popeyes restaurants, released their first quarter fiscal results. Overall, AFC’s net income grew to $9.6 million, compared to $8.3 million last year. Additionally, total sales increased by 10.2 percent, with global restaurant sales increasing by 11.9 percent in two years, and domestic store sales jumping 12.6 percent in two years.
Dole Food Company: Dole Food Company and Giant Food Stores joined to celebrate their donations of two salad bars in the Parkland School District. Both companies have a long-standing desire and commitment to eradicating hunger and promoting childhood nutrition.
Good Times & Bad Daddy’s: Good Times Restaurants and Bad Daddy’s Franchise will open three new Bad Daddy’s Burger Bar restaurants in the Carolinas. Good Times owns 48 percent of the Bad Daddy’s Franchise.
David’s Cookies and Annie’s Euro Bakery: David’s Cookies/Annie’s Euro Bakery increased their baked goods sales by landing a multi-million dollar contract with a major casino and entertainment company by joining Ariba Discovery, a company that raise a company’s visibility among buyers. Thanks to Ariba, David’s Cookies is now playing on the same level as larger competitors and has become relevant in the market.
United Natural Foods, Inc: United Natural Foods released their third fiscal quarter results on May 28. Overall, their total net sales increased by 12.8 percent, as well as their operating income by 13.8 percent and their net income by 8.9 percent.
Jack in the Box, Inc: Jack in the Box recently disclosed details of a refranchising process completed in February that featured the company’s second quarter operating results. Ameen Poonja, an expert franchisee of Popeyes and Dunkin Donuts, acquired four Jack in the Box restaurants in Indianapolis. Additionally, Jack in the Box sold 18 restaurants in the Texas area.