BENTONVILLE, AR - The mass retailer is up again, reporting strong revenue growth of 4.8 percent. Walmart's operating income is growing faster at 8.5 percent, and adjusted income is up 7.2 percent.

"Our team delivered another strong quarter. They work hard every day to help our customers and members save time and money. Each part of our business is growing—store and club sales are up, e-commerce is compounding as we layer on pickup, and even faster growth in delivery as our speed improves. Our newer businesses like marketplace, advertising, and membership, are also contributing, diversifying our profits, and reinforcing the resilience of our business model,” said Doug McMillon, President and Chief Executive Officer.

Walmart shared its second quarter highlights along with a bit of board news, as Bob Moritz, retired Chair of PwC, is set to join Walmart’s Board of Directors.

As goods continue flying off the shelves and warehouses of Walmart, global inventory went down 2 percent, including a decrease of 2.6 percent for Walmart U.S. A press release confirmed in-stock levels are healthy.

Here a breakdown of more Q2 highlights:

• Consolidated revenue of $169.3 billion, up 4.8 percent or 5 percent
• Global e-commerce sales grew 21 percent, led by store-fulfilled pickup and delivery, and marketplace
• Global advertising business grew 26 percent, including 30 percent for Walmart Connect in the U.S
• Adjusted EPS of $0.67 excludes the effect, net of tax, from a net loss of $0.11 on equity and other investments

For full details, click here.

When you need more financial updates from the industry, you know where to click!

UNITED STATES - Torrential rain recently hit Puerto Rico yesterday, August 14, as Hurricane Ernesto ran through the U.S. territory, threatening to become a major storm as it makes its route to Bermuda.

According to reports from ABC 30, Ernesto is forecast to soon strengthen into a major hurricane, with its center expected to pass near Bermuda on Saturday. As the storm makes this pass, forecasters have also warned of heavy swells along the East Coast of the United States. Roughly 4 to 6 inches of rain is expected in the U.S. and British Virgin Islands through the week, and 6 to 8 inches in Puerto Rico, with up to 10 inches in isolated areas.

According to the source, when the hurricane hit Puerto Rico, it was over open water about 720 miles (1,160 kilometers) south-southwest of Bermuda with maximum sustained winds of 80 mph (130 kph) and moving northwest at 16 mph (26 kph).

"Residents need to prepare now before conditions worsen," Bermuda's National Security Minister Michael Weeks said. "Now is not the time for complacency."

ANUK will continue to monitor this storm and any potential impacts on the East Coast produce industry, so be on the lookout for our next update.

ROCKINGHAM, VA - This new partnership is sure to have the industry a-buzz, as Soli Organic has deployed a battery-electric truck within its fleet, a first-ever for the company, working with Penske Truck Leasing in this milestone.

"The addition of this new electric vehicle is a testament to Soli Organic's ongoing commitment to using innovation to help us advance our leadership in sustainability," said Matt Ryan, Chief Executive Officer of Soli Organic. "This trial will provide us with valuable insights into the operational efficiencies and environmental benefits of electrifying our supply chain."

This new innovation builds on Soli Organic’s continued commitment to sustainability, including route optimization for reduced emissions, growing fresh produce indoors close to major consumer markets to reduce food miles, and innovation with growing technology, among other developments.

This collaboration builds on the companies' shared commitment to transforming traditionally carbon-intensive industries to reduce environmental impact. With the integration of the Freightliner® eCascadia® vehicle into its Virginia-based logistics hub, Soli Organic has been able to enhance its distribution of fresh, organic, high-value produce while further decreasing its carbon footprint. The pilot will run for six months.

"We are very pleased to support Soli Organic’s continued sustainability efforts," stated Paul Rosa, Senior Vice President of Procurement and Fleet Planning, Penske. “The Freightliner® eCascadia® is designed to deliver strong performance while minimizing environmental impact."

A press release mentioned how Penske Truck Leasing is Soli Organic’s primary provider for its end-to-end vehicle fleet, reaching critical distribution centers and more than 20,000 retail stores nationwide.

As the wheels continue to turn on this new partnership, ANUK will be there to report.

MIAMI, FL - Thirty years of exceptional service, industry dedication, and a strong, evolving portfolio. That is what Crystal Valley Foods is celebrating as it announces its 30^th anniversary as a company. The grower has maintained its company-wide commitment to providing premium-quality produce to customers across North America—a value dating back to its inception in 1994.

“We are thrilled to celebrate this significant milestone in our company's history," said Jay Rodriguez, Chief Executive Officer of Crystal Valley Foods. "Over the past 30 years, we have remained dedicated to our core values of quality, integrity, and innovation. We are grateful to our loyal customers, dedicated employees, and trusted partners who have been instrumental in our success."

Based in the heart of Miami, Florida, Crystal Valley Foods has grown into a recognized supplier, serving the retail, foodservice, and wholesale markets, a press release explained. The family-owned company upholds an unwavering focus on freshness, sustainability, and customer satisfaction, having earned itself a reputation for reliability and excellence.

"As we celebrate our 30^th anniversary, we're not just reflecting on our past achievements but also looking forward with a clear vision for the future,” said Rodriguez. “We are excited and ready for the potential ahead of us.”

As the company embarks on its fourth decade in the produce industry, Crystal Valley will continue to set its focus on providing fresh, flavorful produce while continuing to foster improved sustainable practices and partnerships within the industry. As the release teased, the supplier has plans to work on new, more environmentally friendly packaging, lowering energy usage, more sustainable growing practices, and new ways to support the health, wellness, and everyday lives of their employees, among other practices.

Crystal Valley also plans to grow and diversify its product line as well as increase investment in innovation, infrastructure, and automation.

Through 30 years of evolution, the company has continued to embrace innovation and industry best practices to the benefit of its customer network. With the implementation of advanced technologies in sourcing and distribution, the company remains a leader in fruit and vegetable production.

A huge congratulations goes out to Crystal Valley on this exciting milestone!

SAN JOSE, CA - Too often we read about data breaches outside the fresh industry—I say too often in part because of the frequency of the crime, but also because of how its prevalence can desensitize many to its impacts. While it may seem removed from produce, ZAG Technical Services’ Greg Gatzke recently pointed out to me how this could not be further from the truth.

“Every company is in the cloud today at some level—most likely through time keeping, payroll, and critical business services. Data breaches can take these down and keep it down for any length of time,” the Chief Executive Officer said, pointing out when Kronos experienced a breach that impacted some businesses for weeks. “Unfortunately, while our industry is no exception to the risks, it faces a lot of cost pressure, and security goes directly against cost.”

Greg shared that most at-risk industries, such as banks and technology enterprises, do not face the same cost-inputs and income fluctuations as fresh produce, providing more resources to make digital security a top priority.

“Our industry heavily relies on the cost and time savings technology provides, but security can often be costly. We depend on technological advancements while grappling with the expenses of securing these investments. Understanding security risks and having potential fallbacks is critical, as well as understanding where you stand if a breach does occur,” Greg said.

In fact, he explained, too many leaders are not able to say what a recovery time would look like should a breach, or even a system failure, occur. It is an answer he described as critical to understanding where a company stands and, by proxy, could provide a competitive edge.

“We know the speed in which the industry has to operate, and that if a company cannot fulfill orders based on technology trouble, another will step up to fill the gap. We are so tied, from government criteria to retail transparency expectations, to the real-time and speed of technology that we cannot fall back on paper like other industries that have suffered a breach-related shutdown,” Greg observed.

These are the hard questions ZAG seeks to answer as an insider to the ag industry, offering not just awareness of technology holes, but opportunities to fill them.

“As we are more dependent upon cloud offerings, companies have redundant internet connections in case one goes down. Look at the cloud offerings your company depends on and consider what it looks like if those go down. How will you function?” Greg demonstrated.

If you have read to this point wondering where you stand, ZAG also offers an assessment to either ease or make you aware of your risk.

“What we do as an organization is come in and assess security, potential to recover with an ag focus custom to the company,” Greg shared, explaining what ZAG provides as a credit-score style evaluation of a produce company’s tech security and vulnerability. “Most company owners don’t know how long it would take to recover from a breach, which is an unhealthy position to be in. This is where ZAG can assist. It is every leader’s responsibility to know what the potential recovery looks like.”

From the competitive advantages of being prepared to the greater risk of not having such fail safes in place, my conversation with Greg reminds me of the importance of insurance—you never know when you’ll use it, but you’re deeply grateful for it when you do.

YAKIMA, WA - Cornell University’s School of Integrative Plant Science started the Geneva Apple Rootstock Program back in 1968, and the reverberations of this founding are still felt today. Under the current guidance of Dr. Gennaro Fazio and Dr. Terence Robinson, the Geneva® program continues to research and develop new rootstock cultivars to meet the needs of 21^st-century growers. One such variety was the Story® Inored apple selection—a variety with disease-resistant qualities released by the Novadi Corporation and sold in the United States under license by Brandt’s Fruit Trees.

“We are honored to have the opportunity to participate in this exciting trial, and we believe the Story Inored apple selection in conjunction with the excellent qualities of the Geneva rootstock will bring great value to the U.S. apple industry,” remarked Kevin Brandt, Vice President, Brandt’s Fruit Trees.

Dr. Fazio first approached Brandt’s Fruit Trees about the possibility of trialing Story on the newest Geneva rootstocks. He noted the attractive coloration and enjoyable eating experience and believed that combining Story with disease-resistant Geneva rootstock would provide value to eastern growing districts.

According to a press release, test trees were built at Sierra Gold Nursery in California and distributed to growers for site testing and evaluation in New York state earlier this spring.

Data is currently being collected and set to be incorporated into the program’s online rootstock selection tool.

For more information regarding this collaboration, click here.

As always, AndNowUKnow will cover the latest in fresh produce news.