MONTRÉAL, CANADA - Metro Inc. shares roared to an all-time high on Wednesday, November 19th, 2014, on the heels of a robust Q4 and FY 2014 financial report. Most notably, profits climbed 45.4% to $115.6 million during Q4 2014, according to a press release.
“Our financial position at the end of the fourth quarter of 2014 remains very solid,” shared Eric R. La Flèche, President and Chief Executive Officer. “We delivered strong fourth quarter results which confirms that our customer-first strategies are gaining traction in our very competitive industry. We are encouraged by the improved sales performance across all banners. We completed the acquisition of Première Moisson in the fourth quarter and we will continue to invest in our network and execute our business plans to pursue our growth.”
Some Q4 2014 highlights from Metro's financial report include:
- A 3.9% increase in sales to $2,712.2 million.
- A 3.1% increase in same-store sales.
- A 59.0% (or 14.8% on adjusted basis) increase in fully diluted net earnings per share to $1.32/share.
Some FY 2014 highlights from Metro's financial report include:
- A 1.7% increase in sales to $11,590.4 million.
- A 1.1% increase in same-store sales.
- A 35.2% decrease in profit to $456.2 million.
- A 30.4% decrease in fully diluted net earnings per share to $5.07/share.
- Adjusted net earnings from continuing operations of $460.9 million.
Metro exceeded analysts' expectations in this financial report. According to the Financial Post, analysts had only anticipated profits of $1.27/share in Q4, a number which Metro beat by 5 cents with a posting of $1.32 profit per share.
Metro's stock rose to $84.66/share on the Toronto Stock Exchange in the wake of this news, up 2.62% or $2.16. This represents an all-time high for the company's stock, according to the Financial Post.
It was a busy quarter for Metro Inc. In addition to its financial results, the company also announced that longtime Board member Réal Raymond would be succeeding the retiring Pierre H. Lessard as Chair of the Board of Directors of Metro Inc.
“On behalf of the entire Metro team, I would like to thank Pierre Lessard and Paul Gobeil for their exceptional contribution to Metro’s success," Eric R. La Flèche, shared in the announcement. "We will pay tribute to them at the next annual general meeting of shareholders.”
Pierre has been a pillar of Metro's executive team for over 24 years, having served as President and CEO from 1990 to 2008 and Board Chair from that point until today.
Along with Pierre, Paul Gobeil, Vice-Chair of the Board since 1990, will also be retiring after the next annual general meeting on January 27, 2015. John H. Tory has also resigned from the Board following his election as Mayor of Toronto.
Congratulations on an excellent fourth quarter, Metro Inc.!
SALINAS, CA – As of Tuesday, November 18th, 2014, Taylor Farms has begun the operation of one of Salinas Valley's first wind turbines. The 398 foot testament to the company's commitment to sustainability and clean energy will help power Taylor Farms' Gonzales vegetable processing facility.
“All of us at Taylor Farms are excited about this new wind turbine because it offers us a sustainable, clean energy generation solution,” shared Nicholas DaCosta, COO Taylor Farms Retail. “We have installed solar, fuel cell, and now a wind turbine into our energy generation system. These systems are part of our continued sustainable efforts.”
According to a press release, the wind turbine can spin at up to 20 rotations per minute and provide up to one megawatt of power.
This is not the first investment Taylor Farms has made towards sustainable energy. Earlier this year, Taylor Farms Retail installed a 2,250 solar panel energy system on the roof of its salad processing plant in Salinas, CA. This investment provides the plant with one million kilowatt hours every year.
The company also installed a fuel cell power system in September 2012. This system uses up to 30% less carbon dioxide and 99.99% less water per kilowatt hour than a conventional power plant.
Put together, these three initiatives comprise a core component of Taylor Farms' sustainability strategy. Congratulations on the excellent work, Taylor Farms!
NETHERLANDS – This week, Ahold’s senior management is presenting an update of the company’s online retail strategy to analysts and investors.
According to a press release, Ahold’s management expects that the company’s online sales are expected to reach approximately $1.76 billion (€1.4 billion) by the end of 2014 and approximately $3.13 billion (€2.5 billion) by the end of 2017.
Ahold's CEO, Dick Boer, commented on the company's strategy saying, “Our online brands bol.com, Peapod.com and ah.nl have played a pioneering role over the past 25 years. Today, we announce the next stage of our ambition, aiming for a growth in online sales to €2.5 billion ($3.13 billion) by the end of 2017. This growth will be supported by an incremental EBIT investment of €60 million ($75.22 million) in the period 2015 until 2017. We offer a great omni-channel proposition for our customers, creating a strong platform for continued future growth and long-term value creation."
The company has invested in technology, marketing and online capabilities to try to stay in the forefront of omni-channel retail. With its acquisition of bol.com in 2012, Ahold now employs over 1,000 IT experts that are based in four technology hubs in the U.S. and the Netherlands.
This new strategy has three elements:
- ‘More customers,’ benefitting from general market growth and driving share growth
- ‘More places,’ expanding into new regions
- ‘More choices,’ expanding the offering for customers and partners
For the latest on this and other retail news, stay tuned to AndNowUKnow.
NETHERLANDS – Dutch farmer, Marc Van Rijsselberghe, has been working with scientists from the Free University of Amsterdam to conduct an experiment to determine if it is possible to grow produce using salt water.
Van Rijsselberghe tells Voice of America (VOA) that, “We put a lot of plants in the field and then we put them in fresh water and in sea water and all varieties between it, and then we see which variety is surviving and which variety is dying.”
To conduct the experiment, Van Rijsselberghe and his team divided a farm into eight plots covered with a network of irrigation pipes. According to VOA, the separate pipes bring fresh water and sea water to a distribution center where a computer-controlled system then mixes irrigation water with eight different levels of salinity.
The group used numerous sensors to control soil salinity and moisture. Van Rijsselberghe tells VOA that they were able to harvest vegetables from most of the test plots but they were, however, smaller than normal and contained more sugar and salt.
The farm was able to grow carrots, cabbage, onions, beetroot and potatoes, with the potatoes being more tolerant to the saline. Van Rijsselberghe says that four different varieties of salt-tolerant potatoes were recently shipped to Pakistan where thousands of hectares of land damaged by salinization are being prepared to test the Dutch potatoes.
Check out this video from VOA to see the process in action:
It will most certainly be interesting to what, if anything, comes from this experiment. What do you think? Let us know by voting in the survey below. Stay tuned to AndNowUKnow for any further updates.
HEWLETT, NY - Associated Food Stores, which licenses the names Associated, Compare, Met, Met Fresh and Metropolitan City Markets to over 350 independently owned and operated supermarkets, has signed an agreement with C&S Wholesale Grocers, Inc. to be the retailer's primary supplier.
"With the acquisition of the assets of our former supplier White Rose, C&S has demonstrated a strong commitment to servicing the New York metro market and the hundreds of independent stores we represent,” shared Bob Sigel, President of Associated Food Stores, LLC. “We look forward to continuing to grow our business with C&S as our primary supplier."
"C&S has admired Associated Food Stores and the impact it has had on the New York tri-state area for a long time, and we are delighted to have the opportunity to partner with this strong retail group to service the customers in this region," agreed Rick Cohen, Chairman and CEO of C&S Wholesale Grocers.
According to a press release, C&S will provide warehouse, transportation and procurement services pursuant to this new agreement.
Thanks to Duncan Forster and Phil Weicker, the carpool lane will never be the same. Equal parts mad scientist and automotive wiz, these two Canadians turned a 1969 Cadillac DeVille into a one-of-a-kind driving experience that can apparently hit 50mph at top speed. Hot tub meet car.
Check it out for yourself in this video below, courtesy of Popular Science and Tanner Thomason:
I'd recommend leaving this beauty in the garage on windy days, as I can't vouch for the safety of steering through a spray of hot-tub water. Apart from that, however, Forster and Weicker seem to have thought everything out. Sealed overhead controls and a customized dashboard protected by marine-grade silicone caulk make this ride as much boat as car. A deliciously warm boat with jet-spray functionality that is.
As a Giants fan, I'm really in no position to judge another person. I spend 162 days a year cheering my heart out for this man:
Even I have to admit though that this car seemed like something out of right field. That's part of the charm, however, and to be honest, if it wasn't for the insurance costs, I'd want one of my own. Maybe Forster and Weicker will give me a ride to work sometime. A man can dream.
PHILADELPHIA, PA - Welcome to What’s in Store. Procacci Brothers is growing its fresh produce offerings with a recent expansion into the tropical produce category. The new import program and introduction of a new tropical brand FELIZ, will allow Procacci to address the growing trends in specialty produce and tropical flavor profiles.
FELIZ branded items will include Green Plantains, Avocados, Yuca, Calabaza, Chayote, and many more. These items have year-round promotional availability for retailers.
The company has also opened an import and sourcing office in South Florida in an effort to streamline its network of tropical produce suppliers and ensure superior quality year-round. Javier Alvarado, who will head up the import office, will now be situated closer to Procacci’s tropics-based suppliers allowing the company to frequently visit their farms. Alvarado is monitoring product quality while coordinating import schedules with suppliers from ideal growing regions.
The South Florida team is working hand-in-hand with Procacci’s sales office in its Philadelphia headquarters to establish buying patterns and ensure customer satisfaction.
These selected items will be branded with FELIZ logo PLU labels. The new brand, Spanish for “happy”, has a colorful label that will be applied to the wide range of tropical offerings.
FELIZ tropical produce items should be merchandised as a group or in the ethnic and tropical section of produce departments. With the exception of chayote, all products should be stored and displayed dry and at room temperature. Chayote, like other squash, should be refrigerated and can remain in the clear individual bags in which they come. Procacci also provides merchandising support for these tropical items at the retail level. Keep a year-round tropical locale in your fresh produce with Procacci Brothers' new import program. Thank you for watching What’s In Store.
DELANO, CA - Columbine Vineyards’ recent investments in new technologies and its latest cold-storage facility are proving to be a difference maker. The company is continuing to make a significant effort in reducing its carbon footprint and water usage to improve its environmentally responsible business practices and sustainability initiatives.
For example, Columbine has converted to a paperless way of doing business with vendors, contractors, and employees, as well as upgraded all interior and exterior lighting fixtures to save energy. The company’s new cold-storage facility now features three times the recommended insulation and uses the newest, most efficient battery recharging system for its forklifts. The LED lighting throughout the facility is also motion sensor activated, which lowers carbon dioxide emissions and ultimately uses less electricity overall.
“In addition to reducing our carbon footprint, we have decreased our water usage by 33 percent in the refrigeration system by reprogramming the refrigeration coil defrost cycles through the use of VFD (variable frequency drive) water pumps,” said John Carter, Facilities Director at Columbine Vineyards.
On its farms, Columbine uses minimum tillage practices. Rather than disking, chiseling and leveling, the company establishes a more “permanent” row middle which incorporates a vegetative and mulch layered strip. This reduces dust, soil compaction, and allows the tractors to move through the vineyard. Columbine has also developed a vine row with a large amount of organic matter that creates an environment that is optimal for root growth and uptake of water and nutrients. This growing of large healthy vines has a much higher “net CO2 gas exchange rate” which increases the output of oxygen.
All plastics, paper, or corrugated material on the farms are sorted, separated, and baled for recycling as well, which has greatly reduced the amount of material that was previously sent to the landfill. Columbine also saves fuel and reduces congestion by having consolidated truckloads move to and from the field to minimize miles traveled and by reusing bulk containers.
Irrigation systems have also been upgraded with newer, more efficient equipment to decrease water usage and to ensure water is distributed to the crop more evenly. The conversion of diesel powered wells to new electric motors also uses less power and reduces air pollution.
“This increase in distribution uniformity has reduced the amount of water needed in order to meet crop demand,” said Billy Wiswall, Agronomist at Columbine Vineyards.
Keep up the great work so far, Columbine Vineyards!
ORLANDO, FL - Giorgio has launched a new innovative mushroom item to both retail and foodservice partners - Stuffed Baby Bella Mushrooms.
Giorgio’s Stuffed Baby Bella Mushrooms with Parmesan Cheese, Artichokes and Spinach tout a flavorful filling that makes the versatile mushroom even more satisfying. The item offers an excellent option for lunch, dinner and anything in between. These value-added mushroom preparations offer great health benefits, great taste and come in two additional flavors: Cheese and Imitation Bacon Bits, Imitation Flavored Crab.
According to the company, Giorgio has seen a great deal of customer interest in the entire line of stuffed baby bella mushrooms, as well. With awareness growing about the health benefits of mushrooms, stuffed baby bella mushrooms offer consumers another delicious way to enjoy a flavorful vegetable in a range of meal solutions from appetizers to main courses. The mushrooms come in 8 small caps per tray (1.75” – 1.875”) and should be refrigerated between 34-40 degrees F.
Initially launched at the PMA Foodservice Conference & Expo in July of 2014, they are now currently available in both retail and foodservice packaging.
BELGIUM – TOMRA Sorting Food is highlighting its new user interface design for the Halo optical sorter at INTERPOM | PRIMEURS in Kortrijk Xpo, Belgium from November 23 – 25.
To face the challenges of growing demand for more complex sorting of multiple varieties of potatoes that must be washed and packed daily, TOMRA has provided a positive user experience in its new user interface.
The new interface has been designed for the user/operator to make sorting adjustments simple and predictable while enabling full control. To do this, TOMRA has changed the setup for the defect and product features, giving each user the ability to define their own sorting criteria and name it the way they want it, according to Jim Frost, Market Unit Manager Whole Products Sorting at TOMRA Sorting Food.
Frost adds that defects of different intensity and size will be setup in different ‘feature boxes’ for critical or minor defects. This will help to remove the fear of the operator changing settings because they have set, saved and named them themselves in the database, allowing for user control of the defect.
Another new feature in the interface allows operators to combine size of the product and color defect levels to allow for more potato recovery. “Operators will be able to set up a combined sort such as combining a small defect (color) on a small potato (length) as waste, but that same small defect on a bigger potato is still within the grade. Instead of having setting for every defect separately, we are now combining them making the Halo sorter more intelligent. The operator can now convert a potato which used to be classified as waste into one which can still be used as a marketable ‘grade,’” said Frost.
To bring all of the innovations together, the new interface now features the touchscreen ‘drag and drop’ feature, which allows the customer to decide, set and clearly see which quality of potatoes goes to what exit. An ‘at a glance’ dashboard on screen also allow the user to monitor feedback about the potatoes right at the sorter.
The Halo sorter has been designed to reduce labor costs by improving produce quality and shortening working days for a speedy return on investment, according to a press release.
“With 18,000 attendees from over 36 countries, INTERPOM | PRIMEURS provides an outstanding opportunity for producers and processors to discover more about our latest sorting systems, which help ensure maximum profit, quality and efficiency,” said Frost.
The fresh pack applications of the Halo include all sizes and varieties of potatoes, carrots, parsnips, onions, beets, tomatoes and cucumbers. The processor applications included peeled and unpeeled potatoes, carrots, peaches, pears, tomatoes, green beans, onions, apricots and citrus fruits like oranges and mandarins.
TOMRA Sorting Food will offer more information on the Halo and its new interface at booth 110 at INTERPOM | PRIMEURS.