Burger King sets four price points for new rib entrees
By Rita Jane Gabbett on 5/21/2010
In this article:
Miami-based Burger King officially announced the launch of its Fire-Grilled Ribs in four serving sizes and price points. (See Burger King rolls out a whopper of a rib meal on Meatingplace, May 19, 2010.)
Participating restaurants are offering:
A three-piece serving of ribs as an add-on to a Value Meal for an additional $1.99
A three-piece serving for $2.99
A six-piece serving for $5.69 and
An eight-piece order for $7.19.
It’s the broiler
“Our guests’ initial reaction to this product has exceeded our expectations, further validating the Burger King system’s investment in our new game-changing broiler,” said John Schaufelberger, senior vice president, global product marketing and innovation, in a news release. “Because of this proprietary cooking technology, we’ve been able to up the ante in our product development across the board, and BK Fire-Grilled Ribs are just the beginning of the innovative product line we can offer with this new cooking platform.”
The Burger King system operates more than 12,100 restaurants in all 50 states and in 74 countries and U.S. territories worldwide.
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Jennie-O soars as Hormel tops analyst expectations
By Ann Bagel Storck on 5/19/2010
Crediting stronger commodity meat markets and improved efficiencies, Hormel Foods on Wednesday said its Jennie-O Turkey Store segment improved profits by 93 percent in the second quarter, ended April 25, compared with the same period a year ago.
The Austin, Minn.-based company’s Refrigerated Foods segment, which includes such products as Hormel pepperoni and party trays, boosted its profits by 7 percent, although Grocery Products — including items such as Hormel chili — were hit by higher protein costs and reported a 2 percent drop in profits.
Overall, profits were down 3.1 percent from a year ago.
Nevertheless, overall Hormel beat analyst expectations and raised its earnings forecast for the year by 7 cents, to a range of $2.75 to $2.85 per share.
“This quarter once again demonstrates the benefit of our balanced business model,” Jeff Ettinger, chairman of the board, president and CEO, said during a conference call with analysts.
Hormel reported a profit of $77.9 million, or 57 cents per share, for the quarter, down 3.1 percent from last year’s second-quarter profit of $80.4 million, or 59 cents per share. Excluding one-time charges, earnings were $91.3 million, or 67 cents per share. Revenue was up 7 percent, to $1.7 billion.
Analysts forecast earnings of 61 cents on revenue of $1.62 billion, according to Thomson Reuters.
“We anticipate continued higher hog costs during the remainder of the year, and we recognize the strong investment performance in our rabbi trust last year will result in a more difficult comparison in the back half of the year,” Ettinger said in a news release. “However, we believe our strong brands and our dedicated team will allow us to overcome those obstacles.”
Shares of Hormel were trading at $40.78, down 2.4 percent, in trading on the New York Stock Exchange early Wednesday afternoon.
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Chef’s Table
By: Michael Formichella
The local butcher bounces back
(The views and opinions expressed in this blog are strictly those of the author.)
Up until about five years ago local butcher shops seemed to be disappearing from the retail landscape as large grocery chains and big-box stores took over. However, this dying art is slowly coming back to life, thanks to new demand in many areas for locally raised meats.
With the trade nearly lost, up-and-comers are searching for ways to learn the craft. I recently read an article about a butcher in upstate New York offering an 8-10 week course and charging $10,000, which would allow you to apprentice with him and his crew for that hands-on approach. This skill set takes years to learn and perfect. I remember when I was a young chef working in a hotel and one of my mentors commented on how a good butcher could make or break the chef’s food cost. Obviously, other factors played into those figures, but it’s funny how some things seem to stick with you.
In my hometown there was a butcher shop just four doors down from where my mother worked. Often I would accompany her to the shop to pick up various items for dinner. Their case was always lined with an array of meats. They would always have trays of pink escallops of veal, whole chickens, legs and racks of lamb and beautiful trimmed steaks and chops. Pork was done a variety of ways and on holidays they always displayed giant locally raised turkeys for sale. During hunting season the butcher would break down whole deer, with the occasional game birds for some of his most loyal patrons — all cut up and labeled ready for the freezer. An assortment of curing meats hung from stainless steel hooks suspended from a large, steel rod that ran the length of his display cases. As a child I remember it seemed almost like I was walking on to an old horror film set. Yes, master… I have vivid memories of his display cases. One was always filled with perfectly trimmed aged steaks ready to entice the most discerning carnivores. The other was filled with a variety of ground meats and encased sausages.
Do you buy your meat from a local butcher? If so,why? If not, why? Is it food safety, service or price that drives your purchasing decision?
May 21, 2010
Working Safely
By: Steve Sayer
Food defense: are you ready?
(The views and opinions expressed in this blog are strictly those of the author.)
Later this year the USDA will issue another food defense survey to determine how many meat and poultry establishments have voluntary food defense programs in place and whether or not to make them mandatory.
A preceding survey taken in late 2009 evinced that roughly 60 percent of USDA inspected establishments had voluntary food defense programs up and running. If the impending survey determines that less than 90 percent of meat and poultry establishments have a voluntary food defense program in place, then the USDA will begin the rulemaking process to make food defense programs mandatory.
Actually, there is a regulatory arm of USDA that already requires a written and verifiable food defense program; the livestock and seed commodity procurement branch or better known as the national school lunch program. This mandatory and progressive food defense precondition may prove to be a harbinger of things to come for all meat and poultry establishments.
The Agricultural Marketing Service procures various products for school lunch and other domestic food nutrition programs. Since 2004/2005, AMS has required all contractors and subcontractors to have a written food defense plan that provides for the security of each plant’s production processes, their storage and transportation of pre-production raw materials and post-production finished products.
Each plant’s food defense program is audited ensure the following areas are in compliance:
1. Food defense management
2. Interior and exterior security of production and storage facilities
3. Slaughter and processing, including raw materials
4. Shipping and receiving
5. Controlled access to production and storage areas
6. Storage
7. Water and ice supply
8. Mail handling
9. Transportation, shipping and receiving
USDA has continued to take the initiative towards food defense by informing and educating industry and the general public through nation-wide workshops, plant defense checklists, model security plans, transportation guidelines and the askFSIS Web site.
Establishments that already have a voluntary food defense program up and running have taken the pro-active approach towards protecting their businesses, employees, products and ultimate welfare of their customers.
What’s your position regarding food defense?
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