Welcome to our dedicated page for Us Foods Hldg news (Ticker: USFD), a resource for investors and traders seeking the latest updates and insights on Us Foods Hldg stock.
US Foods Holding Corp. reports developments as a U.S. foodservice distributor serving restaurants, hospitality operators and other foodservice customers with fresh, frozen and dry food, nonfood products, e-commerce tools and business solutions. Recurring updates cover quarterly earnings, case volume, sales, profitability, cash flow, capital expenditures and share repurchases, along with distribution-network investments.
Company news also includes product and service launches such as Scoop exclusive-brand lineups, Menu IQ within the MOXē platform, and SIGNATURE tools for hospitality operators. Other recurring themes include customer programs, culinary scholarship initiatives and investor conference communications.
US Foods Holding Corp. (NYSE: USFD) announced plans to open new CHEF’STORE locations in California, Montana, and North Carolina, signaling ongoing growth. The new stores will enhance customer access to wholesale food and restaurant supplies, with locations set to open in fall 2022 and early 2023. This expansion will increase CHEF’STORE's network to 87 locations nationwide, offering over 19,000 to 23,500 square feet of shopping space at each store. This initiative follows USFD's acquisition of Smart Foodservice Warehouse in April 2020.
US Foods Holding Corp. (NYSE: USFD) has announced the launch of its 70th distribution facility in Sacramento, California. The 355,000-square-foot facility aims to enhance service efficiency for customers in Northern California and incorporates various sustainable features, including a forthcoming Silver LEED certification and a solar array expected to cover 40-50% of its energy needs. The facility also boasts a fleet of 27 CNG trucks and an onsite Renewable Diesel fueling station, affirming US Foods' commitment to reducing its environmental impact.
US Foods announced that six of its drivers have been inducted into the 2022 International Foodservice Distributors Association (IFDA) Truck Driver Hall of Fame. The inductees include John Avery, Gregory Bernard, Steven Heeney, John Jelinski, Michael Markison, and Michael Tischmak, with service years ranging from 25 to 35. This honor emphasizes the company's commitment to a safety culture.
Only drivers with exceptional safety records and at least 25 years of service can qualify for the Hall of Fame. This noteworthy recognition will be celebrated at the IFDA Distribution Solutions Conference from September 14-16, 2022, in Tampa, Florida.
US Foods is facing potential work stoppages as the Teamsters Warehouse Division warns of unresolved labor contracts at its East Coast distribution centers. Allegations of unfair labor practices, including illegal terminations and bad faith bargaining, are under investigation by the NLRB. Workers, frustrated by the lack of progress in negotiations—some ongoing for nearly a year—are considering strikes. Historical protests against US Foods' labor practices have occurred across various states, highlighting longstanding employee grievances.
US Foods Holding Corp. (NYSE: USFD) will host over 70 customer engagement events this year to aid foodservice operators in overcoming challenges like labor shortages and rising costs. The US Foods Immersion and Fresh Perspectives events aim to provide innovative solutions and industry expertise. Key features include culinary demonstrations, hands-on technology introductions, and networking opportunities. These initiatives align with the company’s commitment to help operators optimize their businesses while managing food costs and improving operational efficiency.
US Foods Holding Corp. (NYSE: USFD) has entered a strategic partnership with Kalera, a leading hydroponic indoor vertical farming company. This relationship aims to deliver high-quality leafy greens year-round to foodservice operators, expanding US Foods' local farm portfolio, part of its Serve Local program. Kalera plans to allocate up to 50% of its US production capacity to this market. The partnership promises innovations in product offerings, utilizing advanced farming technologies for sustainable produce with reduced water usage compared to traditional farming methods.
US Foods announced the upcoming opening of a new CHEF’STORE in Spartanburg, S.C., expanding its retail footprint in the region. The 33,000-square-foot store will provide access to over 4,000 restaurant-quality products at competitive prices, aimed at restaurant operators and the general public. This location marks the fourth CHEF’STORE in South Carolina, joining existing stores in Charleston, Myrtle Beach, and Columbia. The Spartanburg store is set to open in Fall 2022, bringing the total number of CHEF’STORE locations nationwide to 83.
Toast (NYSE: TOST) has renewed its strategic partnership with US Foods (NYSE: USFD), enhancing their commitment to the restaurant industry. This partnership focuses on providing technology solutions to restaurant owners, aimed at saving time, boosting revenue, and improving customer experience. Toast's Chairman and CEO, Chris Comparato, emphasized the alignment of both companies in their mission to support restaurants. US Foods praised Toast for its innovative solutions crucial for their CHECK Business Tools program, which serves around 250,000 clients across the US.
US Foods Holding Corp. (USFD) reported its Q1 fiscal 2022 results, showcasing a 23.9% increase in net sales, reaching $7.8 billion. Total case volume rose 4.1%, driven by a 9.2% increase in independent restaurant case volume. Gross profit grew 19.1% to $1.2 billion, with an adjusted EBITDA increase of 40.1% to $241 million. Despite a net loss of $16 million, improved from the prior year, adjusted diluted EPS was $0.36. The company aims to bolster growth and operational efficiencies amid ongoing industry challenges.
US Foods Holding Corp. (NYSE: USFD) has addressed shareholder concerns regarding claims made by Sachem Head Capital Management in a letter for the upcoming 2022 Annual Meeting on May 18, 2022. The US Foods Board recommends voting for all its directors, emphasizing a one-year Total Shareholder Return (TSR) of 56%, outpacing industry peers. They refute allegations of poor margin improvements and capital allocation decisions, asserting strategic acquisitions and a focus on operational efficiency. The Board aims for $1.7 billion in Adjusted EBITDA by 2024, reinforcing their commitment to shareholder value.