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Hormel Foods reports lackluster results as COVID continues to takes its toll
With Thanksgiving turkey in sight, Hormel Foods Corp. reported lackluster financial results Tuesday on weakness in its food service business due to shuttered restaurants and cafeterias.The Austin, Minn.-based food company, like the rest of the meat industry, continued grappling with the fallout from COVID-19 that has increased production costs and remained a constant threat to its workforce in its fourth quarter.The protein-centric company missed earnings expectations and delivered an unforeseen revenue decline for the quarter ended Oct. 25.Profit fell in the quarter to $234.4 million, or 43 c...
Star Tribune (Minneapolis)
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Home Depot to buy HD Supply
In a deal worth an estimated $8 billion, Home Depot has agreed to buy HD Supply Holdings, an Atlanta-based distributor of industrial products for businesses and apartments buildings.HD Supply, which has about 5,500 employees, was originally part of Home Depot. The company was sold to several private equity firms in 2007. Six years later, the company went public.While both Home Depot and HD Supply sell to contractors and professionals, there’s relatively little overlap, said Sara Gorman, spokeswoman for Home Depot.“It’s really complementary to the MRO (maintenance, repair and operations) busine...
The Atlanta Journal-Constitution
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Farm-fresh produce delivered to your door? Because of COVID-19, a growing number of services are offering just that.
CHICAGO — The pandemic-driven decline in dining out has had a silver lining for home cooks: The high-quality produce and meats typically destined for restaurants are increasingly finding their way to people’s kitchen tables.Now one of Chicago’s top restaurant produce distributors is using its muscle to deliver fresh foods to consumers’ doorsteps, bringing a heavyweight to a growing movement to bypass grocery stores and give shoppers direct access to high-quality farm products.Fresh Midwest, a company launched by the family that owns Midwest Foods and Edible Cuts, home-delivers fresh meat and p...
Chicago Tribune
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Farm-fresh produce delivered to your door? Because of COVID-19, a growing number of services are offering just that.
CHICAGO — The pandemic-driven decline in dining out has had a silver lining for home cooks: The high-quality produce and meats typically destined for restaurants are increasingly finding their way to people’s kitchen tables.Now one of Chicago’s top restaurant produce distributors is using its muscle to deliver fresh foods to consumers’ doorsteps, bringing a heavyweight to a growing movement to bypass grocery stores and give shoppers direct access to high-quality farm products.Fresh Midwest, a company launched by the family that owns Midwest Foods and Edible Cuts, home-delivers fresh meat and p...
Chicago Tribune