Sodexo Stock Price, News & Analysis

Sodexo has appointed Stuart Winters as the new CEO for its US Healthcare division, aiming to enhance patient nutrition, culinary services, and healthcare technology management. Winters, who previously led Sodexo's Healthcare sectors in the UK & Ireland and Asia Pacific, will leverage his extensive healthcare operations experience to drive growth and innovation. Under his leadership, Sodexo became the UK’s largest Covid testing center provider. With 35,000 employees in the US, Sodexo focuses on improving financial health and service quality in healthcare.

North Carolina Agricultural and Technical State University has partnered with Sodexo and Starship Technologies to introduce autonomous food delivery services on campus. This partnership marks the first collaboration between Starship and a historically Black college or university in North Carolina. The fleet of 20 delivery robots will serve three campus eateries, enabling students and staff to order food through the Starship app without delivery fees for two years. This initiative aligns with the university's focus on STEM, providing students with real-world technological applications.

The Sodexo Group launched a new global brand, Sodexo Live!, to unify its sports, events, and hospitality expertise. This move reflects confidence in the potential recovery of the live events sector, highlighted by a Harris Interactive study indicating that 80% of respondents are comfortable attending events, a 20-point increase from 2020. The brand aims to accelerate growth in North America, the UK, France, and emerging markets by focusing on major venues, tailored services, and partnerships with renowned chefs. The initiative positions Sodexo Live! as a leader in delivering unforgettable experiences.

Sodexo Live! released a survey conducted with Harris Interactive that indicates a resurgence in audience comfort with attending live events amid COVID-19. Key findings show 75-80% of respondents across the UK, US, France, and Spain feel comfortable returning to events, a 20-point increase from October 2020. Many attendees express that live experiences enhance their well-being, with over 70% acknowledging its positive mental health impact. Public health measures, such as mask-wearing and hand sanitizers, are deemed reassuring by approximately 50% of those surveyed.

Sodexo's newly acquired restaurant aggregator, Foodee, expands its food technology platform across the U.S. and Canada, featuring 800+ local restaurants in 14 cities. Plans include new offerings in New York City, Los Angeles, Dallas, and Montreal. Foodee allows companies to provide meal options to employees, with features for dietary preferences. Foodee, which has served over 10 million meals since 2012, aims to support local businesses through Sodexo's corporate services division.

Centerplate and Nashville Superspeedway have announced a multi-year agreement to provide hospitality and food services at Middle Tennessee’s premier motor racing venue. The collaboration aims to enhance the fan experience during events, featuring food sourced mainly from Tennessee suppliers. Following the venue's reopening, the NASCAR tripleheader weekend from June 18-20 will highlight significant races, including the inaugural NASCAR Cup Series race on June 20. This partnership marks a strategic move to solidify Nashville Superspeedway as a destination for racing fans.

Sodexo, a major food service provider, will source up to 80% of its lettuce from Vertical Harvest Maine, enhancing local sourcing and food supply year-round. Vertical Harvest plans to establish a 70,000 sq ft farm in Westbrook, aiming to grow over 1 million pounds of produce and create 50 jobs. The partnership aligns with Sodexo's commitment to local economic development, with a pledge of at least $1M to local farms in 2021, marking a significant step for Maine's agricultural sector.