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Laird: Online Headwinds, Inflation Cut Q2 Net Sales -6%
Laird Superfood is downgrading its full-year guidance after announcing that net sales dropped 6% year-over-year to $8.7 million during Q2 2022, citing structural headwinds in online channels in addition to inflationary pressures.
Supply Disruptions Force Companies To Rethink Innovation, Ingredient Management
CPG brands are broadly split on whether the ongoing supply chain disruptions have fueled or hindered innovation, according to a new report by supplier management company TraceGains. Around 35% of companies reported that they experienced a slight, moderate or significant decrease in product innovation since June 2020, while 36% said market conditions have led to… Read more »
What Inflation? Food Prices Have Been Low Since 1992 Says Food Industry Association
The Food Industry Association’s webinar – “Peering Into Food Inflation’s Black Box” – painted a nuanced picture of rising grocery prices, one that showed nominal increases in the cost of food relative to inflation over the past three decades.
SunOpta: Demand For Plant-Based Products Fuels Record Growth In Q2
SunOpta reported one of its strongest quarters in company history, posting a record $145.9 million in revenue on the back of a record 31% growth in plant-based food and beverage.
Lavva, Plant-Based Yogurt, Sold to Gourmet Guru Founder Lichtenstein
Investment firm and advisor Next In Naturals has acquired the assets of plant-based yogurt brand Lavva.
Hormel Foods Announces Changes to Operating Structure Amid Transition into ‘Global Branded Food Company’
Austin, Minneapolis-based Hormel Foods announced today it will transition to three operating segments – retail, foodservice and international – as it moves further beyond meat products and evolves into a “global branded food company.”
Inflation: Consumers Turn to Bargain Hunting as Grocery Prices Rose Again in July
Despite some relief for consumers in other economic sectors, food and beverage prices continued to increase in July, up 1.2% month-over-month, according to a new inflation report by market research firm IRI. Even as the price of other household necessities like gasoline have begun to fall, grocery prices remain elevated – up 14.4% year-over-year… Read more »
Mackey Recruits WFM Execs To Form Wellness Hospitality Company
Alongside several former Whole Foods executives, including his former co-CEO Walter Robb, John Mackey will open a chain of wellness centers and restaurants next year. Under Mackey’s leadership, Whole Foods has launched various travel and wellness offerings.
As Nespresso Joins, B Corp Faces Questions About “Integrity and Relevance”
In April, Nespresso announced it was now a B Corp certified company creating a backlash among other B Corps who say the B Lab’s assessment process is “in serious need of repair” and the seal is being used to “greenwash” some companies.
Distribution: Laoban Dumplings Adds 250 Doors Nationwide; Mylk Labs Lands in Select Whole Foods Market and Target Stores
All four flavors from the Laoban’s core set of dumplings have entered a variety of stores in the past few months, including: King’s & Balducci’s, Earthfare, Tony’s/Woodman’s/Sendik’s, Plum Market, Central Market, Met Market, New Seasons and Bristol Farms/Mother’s Market.