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☆ Beyond Meat Rolls Out a Steak Substitute in Walmart, Kroger Stores
▼ + stars: | 2022-10-24 | by ( Ginger Adams Otis | ) www.wsj.com time to read: 1 min

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☆ Walmart and Kroger customers can now buy plant-based Beyond Steak, which company describes as 'seared to perfection' and 'chopped into bite-sized pieces'
▼ + stars: | 2022-10-24 | by ( Sarah Belle Lin | ) www.businessinsider.com time to read: +2 min

Beyond Steak is plant-based food company Beyond Meat's newest product. The product arrives in more than 5,000 Kroger and Walmart stores amid a decline in sales of plant-based meat. The company says the $7.99 product is "designed to deliver the juicy, tender and delicious bite of seared steak tips with the added nutritional and environmental benefits of plant-based meat." It says the product is "seared to perfection and chopped into bite-sized pieces," has 21 grams of protein per serving, is low in saturated fat, has 0 milligrams of cholesterol. The product rollout comes amid declining sales of plant-based meats.

☆ Beyond Meat launches steak substitute
▼ + stars: | 2022-10-24 | by ( Delon Thornton | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBeyond Meat launches steak substituteBeyond meat is launching its steak substitute in grocery stores Monday. The bite-size pieces have faba bean protein as its base. It has lower saturated fat content than beef steak and is cholesterol free. The 10-ounce package will be sold at popular grocers like Kroger and Walmart for $7.99.

☆ Beyond Meat is rolling out its steak substitute in grocery stores
▼ + stars: | 2022-10-24 | by ( Amelia Lucas | ) www.cnbc.com time to read: +1 min

Beyond Meat is launching a steak substitute in grocery stores on Monday. Amid the chaos, Beyond and Yum Brands' Taco Bell started testing meatless carne asada using its Beyond Steak product at restaurants in Dayton, Ohio. The Beyond Steak that will be sold in grocery stores comes packaged in bite-sized pieces. In the second quarter, Beyond reported U.S. grocery sales rose just 2.2% while restaurant revenue was off 2.4%. This year, shares of the company have lost 80% of their value, shrinking its market value to $821 million.

☆ Beyond Meat launches new steak product
▼ + stars: | 2022-10-24 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +2 min

New York CNN Business —Beyond Meat, the company known for plant-based burgers designed to look, taste and cook like meat, is getting into plant-based steak. But the new product, meant to mimic an expensive cut of beef, arrives as interest in the plant-based sector appears to be ebbing. Each 10-ounce package contains seared plant-based “steak tips” in bite-sized pieces, and is priced at $7.99. “Beyond Steak is a highly anticipated expansion of our popular beef platform,” said Dariush Ajami, chief innovation officer at Beyond Meat, in a statement announcing the new product Monday. The product “delivers the taste and texture of sliced steak.”Beyond Meat launched a new steak product, Beyond Steak.

☆ Albertsons Shareholders Set to Receive $4 Billion Dividend
▼ + stars: | 2022-10-24 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

Albertsons has said the dividend isn’t conditioned on a merger with rival Kroger. Albertsons Cos. is set to pay a $4 billion dividend to its shareholders after fighting opposition for months from attorneys general who tried to block it, as the supermarket operator works to seal a merger with rival Kroger Co.Boise, Idaho-based Albertsons said the dividend would be paid Friday to shareholders who held the stock at the close of business on Oct. 24, 2022.

☆ Aldi is the US's fastest-growing grocery chain and more households earning $50-100K are shopping there. Here are the no-frills tactics that help make it so cheap.
▼ + stars: | 2022-10-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +12 min

Aldi is the US's fastest-growing grocer for the third year running, the real-estate firm JLL said. Aldi almost always has the lowest prices for core products like bread, milk, and eggs, Monford said. Monford added that consumers "don't mind" that products aren't taken out of their boxes because they're shopping at Aldi for value. Campbell said the Aldi stores near her generally had just four or five aisles. Vadakkepatt said Aldi's stores have fewer employees and shorter hours than at other chains.

☆ Kroger-Albertsons Antitrust Review Likely to Focus on Local Store Overlap
▼ + stars: | 2022-10-21 | by ( Jaewon Kang | ) www.wsj.com time to read: 1 min

Kroger and Albertsons said their $20 billion deal to create a new supermarket giant will help them compete with larger rivals in an evolving grocery industry dominated by Walmart and targeted by Amazon.comThe antitrust authorities who review the planned merger, however, may be more focused on the supermarket down the street, according to lawyers and industry officials.

Four local chapters of the United Food and Commercial Workers (UFCW) International told Reuters they are assessing their options for lobbying and coordinated action against the deal, including potential strikes. Bryan Doherty, a spokesperson for the UFCW International, told Reuters it plans to request more information from the retailers about possible store closures and layoffs. On Monday afternoon, representatives of UFCW International met with nearly 100 local UFCW chapters on Zoom to discuss the merger and their collective response to it. Workers told Reuters that Kroger has not yet held conversations with the union to discuss the merger. Albertsons reached out to the union, offering to "keep lines of communication open," Mark Federici, president of UFCW local 400, told Reuters.

☆ I run an 8-figure biscuit business that started as a side gig. Here's how I caught the attention of major distributors like Whole Foods and Costco.
▼ + stars: | 2022-10-20 | by ( Kimanzi Constable | ) www.businessinsider.com time to read: +7 min

Ayeshah Abuelhiga, 36, started selling biscuits in 2014 as a side hustle while consulting full time. A customer asked if she would consider selling frozen dough so they could bake the biscuits at home. The day after, I drove a big ice chest filled with frozen biscuits to the stall before work. Two hours later, I got a call from my chef asking whether we had more frozen biscuits at the off-site kitchen because we had sold out. The company turned over eight figures last year, and Target, Publix, Safeway, Costco, and Aldi all stock our frozen biscuits.

☆ Video: Can Tesla remain king of electric vehicles, Kanye West buys Parler and Kroger-Albertsons merger and more on CNN Nightcap
▼ + stars: | 2022-10-20 | by ( ) edition.cnn.com time to read: 1 min

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☆ Grocery deal could have European interloper
▼ + stars: | 2022-10-20 | by ( Aimee Donnellan | ) www.reuters.com time to read: +4 min

LONDON, Oct 20 (Reuters Breakingviews) - Good luck to Kroger and Albertsons (ACI.N) – U.S. lawmakers are already getting concerned about a deal. A European interloper could make deal plans even harder. If investors reckoned there was merit in a deal, Muller could also use equity to beef up the offer. So regulators wouldn’t have to worry about a larger Kroger shutting down competing Albertsons stores. Less overlap means fewer operational synergies, so a deal with Ahold might not look as lucrative.

☆ How Yasmin Curtis turned her Chicago restaurant's seafood boil into a frozen product and made $2.6 million in 2022
▼ + stars: | 2022-10-20 | by ( Jennifer Ortakales Dawkins | ) www.businessinsider.com time to read: +5 min

During the pandemic, she broadened her customer base by selling her seafood boil in grocery stores. Creating a frozen product from her signature seafood boilTwo Fish sells seafood boil with shrimp and snow-crab legs. Two FishBefore the pandemic, Two Fish Crab Shack had an average wait time of 2 ½ hours to get a table. Two Fish Crab ShackBillboards to reach new demographicsWhen Curtis was first getting her frozen product into stores, she turned to an old-school marketing method: billboards. She's also expanded her frozen seafood boil to include corn and potatoes, which appealed to customers who wanted quick, complete dinners.

☆ Uber to Let Marketers Target Riders by Destination
▼ + stars: | 2022-10-19 | by ( Patrick Coffee | ) www.wsj.com time to read: +5 min

Ride-hailing company Uber Technologies Inc. wants to help marketers target consumers with ads based on where they have been and where they are going. The ride-hailing ad business could grow far larger, Mr. Grether said, especially when self-driving cars become more common. “Cars will become our next living rooms,” Mr. Grether said. The rider can also conduct transactions, such as clicking the ad to buy a product without leaving the Uber app, said Mr. Grether. Users can opt out of targeted ads on the Uber app at any time, said Mr. Grether.

☆ The Columbus, Ohio, Warehouse Boom: How warehouses brought stifling dust and diesel fumes — and a chance for refugees to grab the American dream
▼ + stars: | 2022-10-19 | by ( Emma Cosgrove | Katherine Long | ) www.businessinsider.com time to read: +27 min

What binds them, despite different nationalities, immigration stories, and languages, are warehouse jobs. As Columbus' warehouse development begins encroaching into residential areas, a consensus is gathering here — as it has elsewhere — that warehouses make for poor neighbors. Tariq Tarey for InsiderIn Canal Winchester, Halstead's efforts to put the question of warehouse development before voters were stymied. The town council bypassed her group's referendum by declaring a state of emergency to approve the warehouse development. There aren't clear lines between the winners and losers of Columbus' warehouse boom.

People are seen shopping in a Walgreens, owned by the Walgreens Boots Alliance, Inc., in Manhattan, New York City, U.S., November 26, 2021. Register now for FREE unlimited access to Reuters.com RegisterSteven Derringer, arguing for Walgreens, blamed the opioid crisis on excessive prescriptions and smaller, "mom and pop" pharmacies with lax controls. The U.S. opioid crisis has caused more than 500,000 overdose deaths over two decades, according to government data. One, brought by two Ohio counties, resulted in a jury verdict against Walgreens, Walmart and CVS Health Corp (CVS.N) last year, and a judgment of more than $650 million last month. Walmart and CVS settled with West Virginia last month for $82.5 million and $65 million, respectively, a week before a scheduled trial.

The announcement by Democratic Senator Amy Klobuchar, chair of the Senate Judiciary Committee antitrust panel, and Republican Senator Mike Lee confirmed a previous report by Reuters. A Kroger spokesperson said the company looked forward to the hearing. "We welcome the opportunity to outline how this transaction will benefit America’s consumers by expanding access to fresh, affordable food," the company said in a statement. Register now for FREE unlimited access to Reuters.com RegisterSeparately, Klobuchar and fellow Democrats Richard Blumenthal and Cory Booker released a letter expressing concern about the deal. Register now for FREE unlimited access to Reuters.com RegisterReporting by David Shepardson and Diane Bartz; Editing by Franklin Paul, Josie Kao and David GregorioOur Standards: The Thomson Reuters Trust Principles.

☆ A recession is looming, but for JPMorgan's Jamie Dimon all signs point toward business as usual when it comes to hiring and tech spend
▼ + stars: | 2022-10-17 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

But first, how did those bank earnings go? JPMorgan's Jamie Dimon. Before we kick things off, let's give a quick recap on the state of play with bank earnings. And for JPMorgan's Jamie Dimon, the message was largely one of confidence. The plans JPMorgan laid out in May around its tech spend were "pretty much on track," Dimon said.

☆ What would a Kroger-Albertsons merger mean for grocery prices?
▼ + stars: | 2022-10-17 | by ( Nathaniel Meyersohn | ) edition.cnn.com time to read: +6 min

A Kroger-Albertsons merger could reshape the grocery industry. The companies say they will divest hundreds of stores in areas where they overlap to win regulatory approval. Albertsons has higher prices than Kroger and other grocers, analysts say, and they predict Kroger will try to reduce Albertsons prices to be more competitive against discount chains like Aldi. Antitrust advocates say the merger would force out competition and concentrate power among the largest chains, driving up prices. A Kroger-Albertsons merger would spark a fresh wave of mergers and acquisitions as companies seek to keep up, analysts predict.

☆ Jim Cramer gives his take on the Kroger-Albertsons merger
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailJim Cramer gives his take on the Kroger-Albertsons mergerCramer gave his thoughts on the nearly $25 billion deal on Monday.

☆ Antitrust concerns facing Kroger's Albertsons deal
▼ + stars: | 2022-10-17 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailAntitrust concerns facing Kroger's Albertsons dealWilliam Kovacic, former FTC chairman, joins 'Squawk on the Street' to discuss Kroger's acquisition of Albertsons, the antitrust concerns in favor or against Kroger, and FTC debate considerations.

☆ Instacart is losing ground to rival in-house delivery options at Costco, Sam's Club, and others — and it could hamstring its IPO ambitions
▼ + stars: | 2022-10-17 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

E-commerce sales through Walmart's Sam's Club grew by 5.5%. Such sales grew by 80.7% at Costco and by 9.3% at the Texas-based chain HEB. "They have brands that they like, and if they offer that delivery service, they're very likely to go to that brand." Sam's Club, for instance, welcomed Instacart's shoppers to its stores in the US in 2018. Under that service, orders are picked by Sam's Club employees and delivered to customers using the retailer's delivery partners.

☆ Premarket stocks: The housing market is a mess, but this isn't 2008
▼ + stars: | 2022-10-17 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +7 min

But within those reports, investors found ominous clues about the future of the housing market, underscoring fears of an upcoming crisis. “We’ve had a time of a red-hot housing market all over the country,” Fed President Jerome Powell told me in September. “For the longer term what we need is supply and demand to get better aligned so that housing prices go up at a reasonable level…and people can afford houses again. “This is the sharpest turn in the housing market since the housing market crash in 2008,” said Redfin’s chief economist, Daryl Fairweather, last month. What’s next: Investors will next look to housing starts data next week as an indicator of where the housing market is headed.

The spin-out structure would make it easier and faster for Kroger and Albertsons to divest stores if they cannot easily sell them outright, people familiar with the arrangement said. The companies may struggle to find many buyers because Albertsons' stores are unionized, making them less attractive to potential bidders such as private equity firms. Kroger and Albertsons are likely to shed their least profitable stores and keep the best ones to themselves, analysts said. That region contains the most store-overlap between Kroger and Albertsons and is where divestitures are most likely, according to analysts. They intend for the spun-off company to not carry any debt, the sources added.

☆ Here are Monday's biggest analyst calls of the day: Apple, Amazon, Netflix, Kroger, SunPower & more
▼ + stars: | 2022-10-17 | by ( Michael Bloom | ) www.cnbc.com time to read: +5 min

Here are the biggest calls on Wall Street on Monday: Morgan Stanley reiterates Apple as overweight Morgan Stanley named the tech giant as its top pick in a downturn. Cowen reiterates Amazon as outperform Cowen said shares remain attractive heading into earnings later this month. Morgan Stanley resumes Prologis as overweight Morgan Stanley resumed coverage of the supply chain logistics company and named it a top pick. Morgan Stanley upgrades Clorox to equal weight from underweight Morgan Stanley said in its upgrade of Clorox that it sees some earnings upside ahead of the company's earnings later this quarter. Oppenheimer reiterates Chipotle as outperform Oppenheimer says Chipotle is a "rarity" as the firm sees earnings upside among a deteriorating macro.

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