Despite the grim news, Reed remained positive, voicing his belief in the eventual payoff of the private brands business.
Food & Bev
The private label offering at Sprouts now accounts for more than 10% of store sales, and it’s showing no signs of slowing down.
It primarily manufactures nonalcoholic and alcoholic beverages and beer for other companies' proprietary brands and retailers' private labels.
It's the retailer’s first permanent coffee variety to switch to sustainable sourcing as part of its larger plan to reduce its environmental footprint.
Hy-Vee plans to remove high fructose corn syrup, artificial flavors and colors and synthetic chemicals from 1,000 of its own brand products.
Increases in Q2 were driven by AGD, private label brands and the limited-edition Canada 150 Variety Pack, as well as spikes in Big Rock's flagship brands.
It’s a move that helps build trust in the Target’s private brands and resonates with parents who are looking for cleaner food choices for their children.
Joining as CEO is John Frostad, an entrepreneur and executive with more than 30 years of experience in the private label and branded packaged food industry.
Walmart is making big changes to its food leadership team, according to an internal memo obtained by Reuters. “The changes come at a time when the world's largest retailer has been conducting price tests across several U.S. states and pushing vendors to undercut rivals,” according to the report, which also pointed to increased pressures from Lidl and the expansion of Aldi, who with strong private brands portfolios have “raised the stakes for American grocery chain operators.” (Reuters)