Latest news with #foodretail
Yahoo
2 days ago
- Business
- Yahoo
Albertsons and unions reach tentative agreement
US food and drug retailer Albertsons Companies, the holding company for Safeway and Vons supermarkets, has reached a tentative agreement with UFCW 8-Golden State, in collaboration with UFCW Locals 5 and 648. The proposed contract aims to enhance economic stability, health benefits and pension provisions for 25,000 employees of Albertsons, Safeway and Vons. It encompasses significant wage raises, a strengthened and secure retirement plan, adequately funded health care benefits and robust job protection clauses to foster a safer and more respectful workplace. UFCW 8-Golden State president Jacques Loveall stated: 'This agreement is the result of our members standing strong together. Because of their unity and determination, this new agreement will bring them the respect and dignity they deserve. 'These workers are more than the backbone of these companies — they are part of the fabric of our communities, and their efforts drive our shared success.' The tentative deal is the result of five months of negotiations, which escalated to continuous talks in the final stretch and included a looming strike threat by grocery workers from the Grapevine region to the Oregon border. Failure to reach a deal would have led to the first strike against Albertsons and its subsidiaries Safeway and Vons in northern and central California in three decades. The unions stated: 'We're deeply grateful to the customers we serve for their unwavering support. Your encouragement gave our members strength, resolve and the confidence to stand united. We were never alone, thanks to you.' UFCW 8-Golden State members employed at Albertsons and Vons stores in Kern, Inyo and Mono counties are also covered by a new provisional agreement. "Albertsons and unions reach tentative agreement" was originally created and published by Retail Insight Network, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. 擷取數據時發生錯誤 登入存取你的投資組合 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤 擷取數據時發生錯誤
Yahoo
08-07-2025
- Business
- Yahoo
UBS Affirms ‘Neutral' Rating on Sprouts Farmers (SFM) on Retail Sector Opportunity
Sprouts Farmers Market, Inc. (NASDAQ:) is . On June 9, UBS reiterated a 'Neutral' rating on the stock and a $196 price target. The research firm remains optimistic about the company's prospects in the niche US food retail sector valued at $290 billion. Since 2020, Sprouts Farmers has switched its focus from price-sensitive customers. According to UBS, realignment towards a customer base focused on health and dietary attributes is already paying dividends. Consequently, the research firm's 'Neutral' rating underscores the recognition of Sprouts Farmer's solid position in a specialized market segment. The pivot has already resulted in revenue growing by 15.5% over the last 12 months. In return, the company is experiencing benefits from its comp waterfall strategy, which is fueling same-store sales growth. Sprouts Farmers Market, Inc. (NASDAQ:SFM) is a grocery chain that specializes in fresh, natural, and organic foods. It provides a wide variety of healthy and affordable products, including produce, bulk foods, vitamins and supplements, and natural household items. While we acknowledge the potential of SFM as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the best short-term AI stock. READ NEXT: 13 Best Blue Chip Stocks to Buy According to Analysts and 10 Most Undervalued Gold Stocks to Buy According To Analysts. Disclosure: None. This article is originally published at Insider Monkey.
Forbes
04-07-2025
- Business
- Forbes
Stew Leonard, Jr. Explains Why BBQ Costs Are Skyrocketing
Stew Leonard's is a serious player in American food retail. What's kept it relevant and profitable ... More across generations is a deep-rooted commitment to culture and customer service. Tariffs are not fully to blame for the high costs of BBQs this year, reaching an all-time high. The average cost of a BBQ for ten people is now $103, breaking the $100 barrier for the first time. However, the increased costs have more to do with a historically low cattle herd size. In 2024, the U.S. cattle inventory was the smallest in 73 years. "It takes 18 months to raise cattle, so there's a lag in the system. The ranchers we've talked to all say the same thing - it's just too expensive to raise cattle right now, so they've put their herd growth on pause,' explains Stew Leonard Jr., president and CEO of Stew Leonard's grocery store chain based in Connecticut. Smaller herds have led to declining production and higher beef prices for consumers. 'Hot dog prices are up nearly 19% because they're tied to red meat supply and demand—the raw materials are up. Hot dogs are a mixture of pork and beef, but it's the beef side that's really driving costs. If you get into all-beef hot dogs, you're really seeing the price impact,' said Paul McLean, chief merchandising officer at Stew Leonard's. Stew Leonard's Team Talks Tariff Impact The tariff landscape is creating unexpected market dynamics. 'While European wine and cheese producers report sales drops of 5-6%, American producers are experiencing double-digit growth. Wisconsin cheese makers are up significantly, and California artisan producers are also seeing significant gains,' explains Leonard. Wisconsin-identified specialty cheese sales grew more than four times faster than the rest of the category last year, with dollar sales up 6 percent. With the current trade conditions and tariffs on most imported cheeses from Italy at 20%, consumers are turning to American-made cheeses. Wisconsin cheese makers are seeing sales increase while European producers slump, as American ... More shoppers ditch imported Gouda for homegrown cheddar. Lobster tariffs for outbound shipment to China have resulted in a decline in exports and lower prices in the U.S. The U.S. and Canada exports approximately 80 million pounds of lobster annually. "A lot of that product out of Maine usually goes to China and Asia, and a lot of it isn't going there now. So it's opened up to the American consumer at 25% reduced prices," explains McLean. With tariffs of around 25% on lobster exports to China, much of this premium product that would normally be shipped overseas is now staying in the domestic market. "The United States is benefiting from the tariffs in these particular cases, a counterintuitive outcome that demonstrates how trade policies can have unexpected positive effects for domestic consumers in certain product categories,' explains Leonard. Spanish and Portuguese wines hit the sweet spot for consumers delivering quality without the tariff ... More bite that's stinging French imports. Wine production faces tariff increases on multiple components (corks, wooden boxes), and while Stew Leonard's has not yet seen US wine sales surge since most current inventory is pre-tariff product, customers are gravitating toward European Union wines from Spain and Portugal that offer better value propositions. 'Customers are adapting by seeking value under $15, with Spanish and Portuguese wines becoming the sweet spot for quality without the tariff sting," said Blake Leonard, president of Stew Leonard's Wines & Spirits. Stew Leonard, Jr. Provides Tips For Saving Money On BBQs This Summer Stew Leonard's offers free samples leading to full shopping carts even Stew Leonard, Jr. admits, ... More 'Walk away from our demos... they're very tempting and impulsive.' 'The first thing we say is, make sure your propane tank is full... that almost leads to many divorces that we see in the store because the husband's standing over there, saying, oh, my wife had everything ready, and the propane was empty," jokes Leonard. For budgeting purposes, however, on a more practical note, Leonard suggests the following: Current Economic Conditions Are Reshaping America's BBQ Tradition With profit margins in the low single digits, grocers have virtually no cushion to absorb cost increases. When banana tariffs jumped 10%, Stew Leonard's and their suppliers each ate 5% rather than burden customers with the full price hike. However, grocery stores do not have the ability to absorb all of the costs due to inflation or tariffs. The meats, poultry, fish, and eggs index rose 6.1% over the last 12 months. While consumers exercise newfound spending discipline, retailers are walking a tightrope between maintaining competitive prices and preserving already minimal profitability, creating a delicate balance that's reshaping the grocery landscape.
BBC News
09-06-2025
- Business
- BBC News
M&S drops clothes range for Crewe store's out-of-town relocation
Marks and Spencer (M&S) has announced plans to relocate a store in firm plans to close its Grand Junction store in Crewe when the new shop is opened south of Basford Brook Way just outside the new store will be an M&S Food shop, approximately three times the size of the current food hall inside the existing store alongside the chain's clothing range .It is expected to open in mid-2027, the firm said, subject to planning permission being granted. Bosses confirmed it would not include the firm's beauty or fashion is expected that existing staff will transfer to the new shop when the Grand Junction store Whelan, regional manager for M&S, said it would mean the store could offer the brand's full food range."Our store rotation plan is all about investing to ensure we can deliver the best possible shopping experience for customers," she said."At our Basford location, we'll be able to do just that and secure a sustainable future for M&S in Crewe."She said the new shop would include an in-store bakery as well as a car park with electric vehicle charging points. Read more Cheshire stories from the BBC and follow BBC Stoke & Staffordshire on BBC Sounds, Facebook, X and Instagram.
