Latest news with #foodindustry
Yahoo
4 hours ago
- Business
- Yahoo
Kraft Heinz (KHC) Closes in on 52-Week Low; Goldman Trims PT
With a strong international presence, especially in North America, The Kraft Heinz Company (NASDAQ:) manufactures and markets food and beverage products, including condiments, sauces, and cream cheese. Due to weak consumer demand and resulting financial pressures, the company's stock is currently trading near its 52-week low, making it among the 7 52-week low dividend stocks to consider. An aisle lined with shelves of fresh and frozen foods in a supermarket store. Amid the challenges, Goldman Sachs lowered its price target for the company from $27 to $25 on June 12, 2025, maintaining a Sell rating. The analyst cites ongoing cost pressures and growing competition from private labels and fresh products. Accordingly, Goldman Sachs expects that the short term offers little improvement for the company in the context of the ongoing pressures. Despite the challenges, The Kraft Heinz Company (NASDAQ:KHC) reported strong cash flow and balance sheet for Q1 2025, thanks to its effective cost optimization. Looking ahead, the company expects its brand growth system to scale up to reach 40% of its business by the end of 2025. Meanwhile, the company expects tight margins for Q2 2025 amid commodity price peaks, hedge losses, and increased market expenditure. While we acknowledge the potential of KHC 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: and . Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
CTV News
5 hours ago
- Business
- CTV News
Darden Restaurants lifts sales forecast, beats quarterly estimates on casual dining demand
Darden Restaurants forecast annual same-store sales above estimates after strong quarterly results on Friday, banking on demand driven by food delivery and advertising efforts at its casual dining chains such as Olive Garden. Shares of the company rose about three per cent in premarket trading after the company also announced a new US$1 billion share repurchase program. Casual dining and fast casual restaurant chains, including Olive Garden and Shake Shack, have benefited from menu innovations and promotions to entice customers, offsetting the impact of consumers turning to home-cooked meals to save money. Meanwhile, fast food chains including burger giant McDonald's, Starbucks and Domino's Pizza have been struggling with tepid demand. Darden expects annual same-store sales to grow in the range of two per cent to 3.5 per cent, midpoint of which is above analysts' estimates of 2.64 per cent, as per data compiled by LSEG. Initiatives such as home deliveries with the help of Uber Direct and 'buy one, take one' offerings at Olive Garden have further helped the restaurant chain operator. Its consolidated same-store sales were up 4.6 per cent in the quarter compared to a year ago, with Olive Garden sales rising 6.9 per cent. The company posted fourth-quarter sales of $3.27 billion, edging past estimates of $3.26 billion. It logged adjusted profit of $2.98 per share for the quarter ended May 25, above estimates of $2.97 per share, owing to moderate price hikes and lower input costs. However, the company forecast annual earnings per share between $10.50 and $10.70, compared with estimates of $10.75 per share. (Reporting by Anuja Bharat Mistry in Bengaluru; Editing by Vijay Kishore)
Yahoo
18 hours ago
- Business
- Yahoo
Mega Sardines: 50 Years of Serving Nutrient-Rich Meals — Primed To Go Global
A legacy of nutrition, innovation, and malasakit fuels Mega Prime Foods' next chapter as a global wellness leader The founders of Mega Prime Foods, flanked by their children as the second-generation braintrust leading the company into the next 50 years MANILA, Philippines, June 19, 2025 (GLOBE NEWSWIRE) -- As it celebrates its 50th anniversary, Mega Prime Foods Inc. reflects on a remarkable journey—one that began with a simple mission to provide affordable, nutritious food to Filipino families. What started as a humble fishing company has now become one of the most innovative and socially driven food manufacturers in Southeast Asia, producing over 3 million cans of sardines daily from its advanced facilities in Batangas and Zamboanga. Sardines, long a staple in Filipino households, are among the most nutritionally dense foods in the world—rich in Omega-3 fatty acids for brain and heart health, vitamin B12 for metabolic support, and a host of other essential nutrients like calcium, iron, and selenium. Mega Sardines ensures these health benefits are preserved through its industry-leading 'catch to can in 12 hours' process—setting it apart in freshness, quality, and care. For Chairman and Founder William Tiu Lim, the journey has not been easy. From natural disasters like the devastating 1970s typhoon that destroyed much of their fishing fleet, to political and economic crises, Mega has endured and grown stronger. Through it all, Tiu Lim held fast to three core values: Quality, Innovation, and Malasakit—a uniquely Filipino term meaning selfless concern for others. 'We've always aimed for the best possible quality,' said Tiu Lim. 'Our fish go from sea to can in just 12 hours, compared to the industry's usual 1–3 days. That freshness is our edge.' This commitment to innovation and excellence recently culminated in a global milestone: Mega Sardines was designated a 'Superfood' by the Medical Wellness Association (MWA), becoming the first seafood product ever to receive the distinction. The recognition was awarded during Mega's 50th anniversary celebration by MWA Board Member and faculty member James Michael Lafferty, underscoring the brand's role in promoting global wellness. 'I was honored to announce Mega Sardines as the world's first seafood Superfood,' said Lafferty. 'It's a testament to their quality, innovation, and mission to improve health outcomes.' As the company transitions into its second generation of leadership under President and CEO Michelle Tiu Lim-Chan, the vision for global expansion is clear—but rooted in the same human values that built the brand. 'We are people-first,' said Lim-Chan. 'We serve our customers, support our employees, and provide opportunities to improve lives. Growth is not just about geography—it's about purpose.' Mega Prime Foods is already expanding its product lines, offering not only sardines but also tuna, mackerel, fruit cocktails, coconut gel, Primo non-alcoholic sparkling juices, and the Jimm's Coffee functional beverage line. 'Our proudest achievement is our ability to turn compassion into tangible, quality products,' Lim-Chan added. 'We're not done yet. The next 50 years will be even more exciting.' About Mega Prime Foods Inc. Mega Prime Foods Inc. is a leading food manufacturing company in the Philippines dedicated to providing high-quality, nutritious products for every Filipino home. With vertically integrated operations, state-of-the-art technology, and a deep sense of social responsibility, Mega continues to redefine what it means to be a purpose-driven global brand. A photo accompanying this announcement is available at CONTACT: CONTACT Marvin Tiu Lim COMPANY Mega Prime Foods Inc. PHONE +639988888600 EMAIL marvin@ WEB Media Contact Katapult Digital Email: info@ in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
19 hours ago
- Entertainment
- Yahoo
Legendary Chicago Restaurant Has 'Abruptly' Closed for Good
After more than six decades in operation, one of Chicago's iconic restaurants has closed up shop. Gale Street Inn, which opened in 1963 in the Windy City's Jefferson Park neighborhood, announced Thursday morning it was shuttering. The restaurant had previously hinted as much in an Instagram post Wednesday night, sharing a video along with the message "It's been a heck of a run Chicago, thank you!" This morning, the official Gale Street Inn account confirmed they are indeed shutting down, blaming staffing issues for the decision. "With a sad but satisfied heart, we have closed our restaurant," the post reads. Hiring and retaining quality staff has proven too tough for too long. We are tired of sucking, we have standards you know. But overworking our existing crew is not the answer. There are simply too many of you and not enough of us. Thank you to our current & past teams." Not surprisingly, Gale Street's announcement was met with a slew of comments from disappointed fans. The restaurant also honored its longtime customers in its farewell post. "Man what a run! Thank you to all of our guests for all of the years," they wrote. "To our vendors, thank you for delivering the goods, always. To the city of Chicago, we loved operating in the greatest food town on the planet." As for anyone still holding a Gale Street Inn gift card, the restaurant says it will devise a plan for reimbursement and announce it at a later date. Owner George Karzas told the Chicago Sun-Times that business at the restaurant, which was known for its steaks and baby back ribs, remained robust even up to its closure. In the end, it was the staffing problems that proved too much to overcome and led to the shutdown. "I'm tired, it's hard," Karzas told the Sun-Times. Legendary Chicago Restaurant Has 'Abruptly' Closed for Good first appeared on Men's Journal on Jun 19, 2025
Wall Street Journal
a day ago
- Health
- Wall Street Journal
Food, Agriculture Leaders Sound Warnings on MAHA Overreach
Health Secretary Robert F. Kennedy Jr. 'Make America Healthy Again' mantra sounds simple. Food and agriculture leaders warned that reality is more complicated—and the stakes are high for the U.S. food supply. The MAHA movement argues that a heavily consolidated and industrialized U.S. food industry is the central factor in Americans' high rates of chronic illness. Kennedy and his allies are ratcheting up federal scrutiny on ultra-processed foods, artificial dyes, food additives and pesticides.
