Here's the latest in food retail
| The latest in food retail | | ISSUES & TRENDS | | | Grocery executive salaries on the rise with ‘return to normalcy’
After remaining mostly flat during the turbulent COVID year of 2020, executive salaries in the grocery industry saw much more movement in 2021, with compensation rising especially among small to medium-size retailers and midlevel positions across the board.
While grocery retail had record sales in 2020, for many companies in all industries, annual raises were on hold that year as businesses navigated the pandemic. In 2021, many of those raises came back. |
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| ONLINE RETAIL | | | U.S. e-grocery sales hold steady for March
The U.S. online grocery market totaled $8.7 billion in March, the same as in February but down 6.5% from a record high of $9.3 billion a year ago, strategic advisory firm Brick Meets Click reported.
E-grocery sales through pickup in March came in at $3.8 billion, down 5% from $4 billion in February and an 11.6% decline from $4.3 billion in March 2021, according to the latest Brick Meets Click/Mercatus Grocery Shopping Survey, released Thursday. Delivery sales grew during March, up 9.3% to $3.5 billion from $3.2 billion in February and climbing 20.7% from $2.9 billion in March 2021. |
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| ISSUES & TRENDS | | | War in Ukraine creating devastating food crisis
Where food insecurity exists today could be famine tomorrow as the Russia-Ukraine conflict brews the perfect storm in the Black Sea that could set the world on a further trajectory of increased food insecurity.
“In Ukraine, it is one of the worst crises which I have seen, and I have seen many,” shares Arif Husain, chief economist of the United Nation’s World Food Programme during testimony in front of the House Agriculture livestock and foreign agriculture subcommittee hearing on April 6. |
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| RETAIL & FINANCIAL | | | Publix readies 5‑for-1 stock split
This month, Publix Super Markets plans to enact a 5‑for-1 stock split that will boost its number of authorized common shares from 1 billion to 4 billion.
Publix said Friday that its board of directors approved the stock split to be effective at of the close of business on April 14. For each share owned, stockholders will receive four additional shares. |
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