Food
America’s French Fry King Sounds An Alarm
Americans are revolting against McDonald’s and other fast-food establishments. This is harming French fry suppliers like Lamb Weston.
Lamb Weston, North America’s largest manufacturer of french fries and a significant supplier to fast-food chains, restaurants, and grocery stores, is closing a production facility in Washington state. Last week, the company stated that it would lay off almost 400 employees, or 4% of its workforce, and temporarily shut down manufacturing lines in response to falling customer demand.
Lamb Weston (LW) shares have plummeted 35% this year.
America’s French Fry King Sounds An Alarm
The potato giant is oversupplied at a time when demand is low. In recent years, restaurant prices have risen faster than grocery store prices, prompting shoppers to avoid fast-food establishments.
This move has had an impact on Lamb Weston because individuals are less inclined to prepare French fries at home. According to Lamb Weston, fast-food restaurants account for around 80% of all french fries consumed in the United States.
Fast-food restaurants, such as McDonald’s, are offering bargain menus to entice customers back. McDonald’s has introduced a $5 meal that contains a McDouble cheeseburger or a McChicken sandwich, small french fries, four chicken nuggets, and a small soft drink. However, these promotions are not benefiting Lamb Weston because customers are purchasing fewer portions of fries.
“Many of these promotional meal deals have consumers trading down from a medium fry to a small fry,” Lamb Weston CEO Thomas Werner stated during an earnings call last week.
Lamb Weston did not immediately reply to CNN’s request for comment.
McDonald’s, Lamb Weston’s largest customer, accounts for 13% of revenue. As McDonald’s goes, so does Lamb Weston.
America’s French Fry King Sounds An Alarm
And McDonald’s is struggling. Sales at US restaurants open at least a year declined 0.7% last quarter compared to the same period a year ago, dragged down by fewer consumers visiting the brand.
Lamb Weston is also heavily exposed to other fast-food companies, according to analyst R.J. Hottovy of analytics firm Placer.ai, in a research note to clients last week.
Customer traffic to fast-food restaurants fell 2% last quarter and 3% the prior quarter compared to the same period last year, according to Lamb Weston.
SOURCE | CNN
Food
Taylor Port Launches Sentinels Vintage Port
Taylor Port has announced the launch of Taylor’s Sentinels Vintage Port, a blend of wines made from its assets in and around the Pinhao Valley.
The four estates—Terra Feita, Junco, Casa Nova, and Eira Velha—are all located inside the original 1756 border and have received Feitoria status, the highest certification for Tayor Port vineyards.
Sentinels derive their name from the granite pillars known as “Marcos de Vitoria” that guard the demarcation line that separates the top-grade Port sections and is home to numerous Taylor Port mansions. From 1758 to 1761, 335 stone stakes were constructed to designate this region.
Fruity
The Pinhão Valley style is rich, deep, and delicious, despite differences in altitude, orientation, sun, wind exposure, and grape variety mix throughout the estates.
Sentinels Vintage Port’s mix is based on ‘parcel selection’, a laborious procedure of selecting wines from specific plots on each estate. Like Taylor’s Single Quinta Vintage Ports, Sentinels Vintage Ports will be created in years when no traditional Taylor Port Vintage is produced.
Taylor Port Thrilled
These vintages produce wines that have the potential to age and improve in the bottle while remaining approachable and delicious while young.
Thrilled Taylor’s managing director, Adrian Bridge, said the company is “thrilled” to unveil the line.
He stated, “This publication demonstrates our dedication to creating excellent Ports that honour the legacy of our ancient lands. The Taylor’s Sentinel blend honours our heritage while demonstrating our commitment to quality.
Taylor’s head winemaker, David Guimaraens, described it as a “tribute to the unique terroir” of the Pinhão Valley.
He stated, “Each estate adds its own flavour to the blend, resulting in a nuanced and harmonious wine. It is a true expression of Taylor’s long legacy and precise craftsmanship.
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Food
Starbucks Is Making A Popular Add-On Free Of Charge
Starbucks drinks with soy, oat, almond, or coconut milk will no longer cost extra.
Starting next week, Starbucks customers will no longer be charged more for adding nondairy milk to their orders. According to the corporation, removing the non-dairy milk premium will result in customers paying around 10% less than they did previously.
In recent years, Starbucks has seen an increase in orders with milk replacements, similar to non-dairy alternatives in grocery shops. Starbucks began offering oat milk on its menu in 2021. After adding a shot of espresso, non-dairy milk is now the second most popular order change at Starbucks.
Starbucks Is Making A Popular Add-On Free Of Charge
Starbucks has significantly changed since new CEO Brian Niccol took over the troubled company in September.
Starbucks’ global revenues at outlets operating for at least a year fell 7% last quarter, while customer transactions decreased by 8%.
“Our financial results were very disappointing,” Niccol stated during the company’s quarterly earnings call. “It is clear we need to fundamentally change our strategy to win back customers and return to growth.”
Bringing back condiment stations and Sharpies.
Starbucks is moving swiftly under Niccol.
Starbucks is reducing promotional discounts through its mobile app to encourage customers to pay full price for its coffees and teas. Niccol aims to redefine Starbucks as a luxury brand that avoids discounting.
Despite reducing discounts, Niccol stated that the company had no plans to hike pricing next year. Starbucks has raised its costs in recent years, driving away some customers.
Starbucks also announced this week that it is removing its contentious olive oil-infused drinks from the menu, less than a year after its introduction.
The “Oleato” drinks will be removed from Starbucks’ menus in the United States and Canada beginning in early November as part of Niccol’s aim to simplify a menu he recently described as “overly complex.”
Starbucks Is Making A Popular Add-On Free Of Charge
In addition, Niccol stated on Wednesday that Starbucks intends to reinstate self-service condiment stations in locations. The business eliminated them at the start of the Covid-19 epidemic in 2020.
“Both our customers and our baristas say it would help them speed up orders,” he said.
Baristas who write customers’ names on drink orders in marker will also return as part of Niccol’s aim to create a coffeehouse ambiance at the business and give it a “human touch.”
Starbucks (SBUX) shares were steady during regular trading but rose 0.5% after hours.
SOURCE | CNN
Food
McDonald’s Quarter Pounder Back On The Menu After Testing Rules Out Beef Patties As E. Coli Source
Los Angeles —McDonald’s announced on Sunday that Quarter Pounders will be back on the menu at hundreds of its locations after testing ruled out beef patties as the cause of the E. coli outbreak linked to the popular burgers. The outbreak killed one person and affected at least 75 others in 13 states.
According to McDonald’s statement, the US Food and Drug Administration continues to believe that slivered onions from a single supplier are the most likely source of contamination. McDonald’s said it will resume selling the Quarter Pounder at affected restaurants—minus the slivered onions—in the next week.
As of Friday, at least 75 people in 13 states were sick, according to federal health officials. The Centers for Disease Control and Prevention said that 22 persons were hospitalized, two of whom suffered a serious kidney disease consequence. One person died in Colorado.
McDonald’s Quarter Pounder Back On The Menu After Testing Rules Out Beef Patties As E. Coli Source
Early FDA analysis revealed that the uncooked slivered onions used on the burgers “are a likely source of contamination. ” McDonald’s has confirmed that Taylor Farms, a California-based produce company, supplied the fresh onions used in the outbreak-affected locations, which came from a facility in Colorado Springs.
When the outbreak was revealed on Tuesday, McDonald’s removed the Quarter Pounder burger from menus in numerous states, primarily in the Midwest and the mountains. McDonald’s said on Friday that slivered onions from its Colorado Springs facility were supplied to about 900 of its restaurants, including those in transit hubs such as airports.
On Tuesday, the firm announced that slivered onions sourced from the factory were removed from its supply chain. McDonald’s will discontinue sourcing onions from Taylor Farms’ Colorado Springs factory “indefinitely.”
According to McDonald’s, the 900 McDonald’s restaurants that previously received slivered onions from Taylor Farms’ Colorado Springs facility will start selling Quarter Pounders without slivered onions.
McDonald’s reported that the Colorado Department of Agriculture’s testing ruled out beef patties as the source of the illness.
The Department of Agriculture acquired many fresh and frozen beef patties from various Colorado McDonald’s outlets linked to the E. coli inquiry. The department reported that all samples tested negative for E. coli.
While it is unknown whether the recalled onions were the source of the illness, numerous other fast-food restaurants, including Taco Bell, Pizza Hut, KFC, and Burger King, removed onions off their menus in specific areas this week.
As of Friday, Colorado had the most illnesses recorded, with 26. The CDC reported that at least 13 persons were affected in Montana, 11 in Nebraska, 5 in New Mexico and Utah, 4 in Missouri and Wyoming, 2 in Michigan, and 1 in Iowa, Kansas, Oregon, Wisconsin, and Washington.
McDonald’s stated Friday that it did not remove the Quarter Pounder from any further restaurants but that some occurrences in states outside the initial region were related to travel.
McDonald’s Quarter Pounder Back On The Menu After Testing Rules Out Beef Patties As E. Coli Source
According to the CDC, several persons who got sick reported traveling to other states before symptoms appeared. At least three persons reported eating at McDonald’s throughout their trip. Illnesses were reported from September 27 to October 11.
The outbreak is caused by infections with E. coli 0157:H7, a bacteria that produces a deadly toxin. According to the CDC, it causes over 74,000 infections in the United States each year, resulting in over 2,000 hospitalizations and 61 fatalities.
Symptoms of E. coli poisoning can appear fast within a day or two of eating contaminated foods. They often include fever, vomiting, diarrhea or bloody diarrhea, as well as indicators of dehydration such as decreased urination, increased thirst, and dizziness. The illness is particularly deadly for children under the age of five, the elderly, pregnant women, and those with compromised immune systems.
SOURCE | AP
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