Top 10: Restaurant closures, a new grocer, PepsiCo’s sleep-supporting beverage
SmartBrief readers this week were drawn to the news that 100,000 US restaurants have closed either long-term or permanently as a result of the coronavirus pandemic. Additionally, some 40% of operators don't expect to be in business six months from now without additional federal assistance, according to the National Restaurant Association.
Other popular restaurant news included the rollout of new strawless, recyclable lids for cold drinks at Starbucks, as well as expansion plans from 96-unit fast-casual chain Slim Chickens.
On the CPG side, readers were interested in news of Nestle USA’s portfolio overhaul that helped lead to stateside growth, as well as a portfolio transformation from Kraft Heinz that will see product categories trimmed from 55 to six. PepsiCo’s functional water brand Driftwell, which contains magnesium and L-theanine to support relaxation and sleep, also caught readers’ attention.
A new grocer taking root in the Chicago area gained the attention of food retail readers. Jet Foods plans to offer discount prices and prepared meals for customer convenience, with hiring for two locations starting soon. News that SpartanNash named a new president and CEO -- former Borden CEO Tony Sarsam -- also made waves.
Read the full Top 10 below:
- Report: 100K US restaurants have closed due to pandemic
- How Nestle USA positioned itself for success
- PepsiCo to unveil sleep-supporting beverage
- Starbucks rolls out new lids in plan to phase out straws
- Kraft Heinz embarks on major portfolio transformation
- New grocer Jet Foods makes leap into Chicago area
- Slim Chickens aims to grow sixfold by 2030
- SpartanNash names former Borden exec as CEO, president
- Senator from N.J. co-sponsors $120B Restaurants Act
- M&A, core brand "renaissance" to fuel Nestle growth
- The future of food technology: Consumer values and a healthier food system
- Understanding what today’s eco-conscious food consumers want
- Restaurants invest in tech tools to increase safety during the pandemic and beyond
If you enjoyed this article, you can sign up for Consumer Brands SmartBrief, FMI dailyLead or Restaurant SmartBrief to get news like this in your inbox. For even more great news content, sign up for any of SmartBrief’s 275+ free email newsletters today, free.