Packaged Facts: Prepared, ready-to-eat foods market expected to rise 7.5%
ROCKVILLE, MD. — Prepared foods and ready-to-eat foods are seeing major gains at retail, especially at supermarkets, according to a new Packaged Facts report.
According to "Prepared Foods and Ready-to-Eat Foods at Retail," sales of such items will reach nearly $32.5 billion this year, up 7.5% from 2011. While sales continue to rise, supermarkets garner the majority of prepared foods purchase visits at 60%, followed by Walmart and convenience stores (15% and 12%, respectively). Packaged Facts noted that the rise of these sales are due to the accessibility to a wide range of household incomes.
The report also cited that "strong, high-quality store-brand portfolios are a significant advantage for prepared foods retailers in keeping the price points of prepared foods down, and part of the winning formula." Packaged Facts called out such retailers as Costco, Kroger, Safeway and Supervalu, all of which continue to grow and leverage their private-label products in conjunction with developing their food service programs.
Click here to access the full report.
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Jean Coutu Group adds new member to board
LONGUEUIL, Quebec — The Jean Coutu Group has added a new member to its board of directors.
Board chairman Jean Coutu confirmed that Cora Mussely Tsouflidou was elected to the board at the company’s general meeting of shareholders last week. Tsouflidou is the founder, owner and administrator for the group of Cora companies, a chain of casual restaurants that operate throughout Canada.
"We are very proud to welcome Mrs. Tsouflidou on our board of directors," Jean Coutu Group board chairman Jean Coutu said. "Her vision and values closely match those of the Jean Coutu Group. Her knowledge in the field of franchise and her expertise will be strong assets for the development of our activities."
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Walgreens, Express Scripts end dispute
DEERFIELD, Ill. — Walgreens and Express Scripts on Thursday ended their nearly year-long dispute with a multiyear pharmacy network agreement that includes rates and terms under which Walgreens will participate in what the companies are calling the broadest Express Scripts retail pharmacy network available. It will include 64,000 pharmacies nationwide as of Sept. 15.
"As I’ve said, we are in the business of providing a broad range of pharmacy, health and wellness services to help meet the needs of all of our customers,” Walgreens president and CEO Greg Wasson said. “I am pleased that Walgreens and Express Scripts have been able to reach an agreement that works for both parties and is consistent with our company’s principles."
The companies are not disclosing the terms of the new contract.
I commend Walgreens for their courage and commitment to pursue what they feel was the high road in the long term business and market strategy. They took risks which Caremark and Rite Aid could find the moral strength to support, and as a result broke the strength of their unity. I don't know the the agreed details where and don't care, but suspect yielded consessions by Express Scripts. I hope that the agreement provides terms, in which prevents the others who stood on the sidelines to let Walgreens fight alone ... never get to benefit from the changes, since they also benefited from their inaction and took business away from Walgreens during the fight ! Robert Chan Pharm D.