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) will hold its virtual Food Fanatics Live event on April 7, 2021. This event invites foodservice professionals to engage with industry insights from experts like Jack Li. Attendees can expect sessions on enhancing restaurant operations, including marketing, staffing, and menu innovation to meet rising consumer demand as COVID-19 restrictions ease. US Foods also offers various online resources to support restaurateurs, emphasizing its commitment to helping foodservice operators succeed.
US Foods Holding Corp. (NYSE: USFD) has opened the application period for its US Foods Scholars program, aimed at assisting culinary and hospitality students in their educational pursuits. With the program's expansion to include Birmingham, Ala., Daytona Beach, Fla., and Portland, Ore., it now serves nine markets. This year, up to 18 students can receive $20,000 each for their education, alongside training opportunities with US Foods professionals. The program has awarded over $650,000 in scholarships since 2017, with 31 scholars currently enrolled.
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US Foods Holding Corp. (NYSE: USFD) CFO Dirk Locascio will present at the J.P. Morgan Virtual Gaming, Lodging, Restaurant and Leisure Management Access Forum on Friday, March 12, at 11:00 a.m. EST. Interested media and investors can access a live audio webcast via the company's Investor Relations page at https://ir.usfoods.com, with a replay available later that day. US Foods is a leading foodservice distributor in America, partnering with about 300,000 restaurants and foodservice operators, and offers a wide range of food products and e-commerce solutions.
US Foods Holding Corp. (USFD) reported a challenging fourth quarter and fiscal year 2020, impacted by the COVID-19 pandemic. Total case volume decreased by 10.2% in Q4 and 11.0% for the year, with net sales dropping 11.5% to $6.1 billion in Q4 and 11.8% to $22.9 billion for the year. Gross profit also declined, falling 18.5% to $1.0 billion in Q4 and 18.9% to $3.7 billion for the year. Despite a net loss of $23 million in Q4 and $254 million for the year, the company noted improvements in sales and Adjusted EBITDA in the latter half of 2020, partly due to acquisitions. However, guidance for fiscal 2021 remains uncertain.
US Foods Holding Corp. (NYSE: USFD) is rebranding Smart Foodservice® Warehouse Stores to US Foods CHEF’STORE® effective March 1. This move is aimed at enhancing customer experiences by integrating the strong US Foods brand with Smart Foodservice's assortment and services. All 72 stores will update signage and uniforms, while new CHEF’STORE locations will open in Myrtle Beach and Clarkston. With this rebranding, US Foods will operate a total of 80 CHEF’STORE outlets nationwide, providing restaurant-grade products directly to the public.
US Foods Holding Corp. (USFD) has priced a private offering of $900 million in 4.750% senior unsecured notes due 2029, increasing the offering size by $300 million. The offering is set to close on February 4, 2021. Proceeds will be used to redeem existing 5.875% notes due 2024, repay senior secured loans maturing in April 2025, and cover related fees. The notes are offered solely to qualified institutional buyers and non-U.S. persons. The offering is exempt from SEC registration under relevant securities laws.
US Foods Holding Corp. (NYSE: USFD) has initiated a private offering of $600 million in senior unsecured notes due 2029, led by its wholly-owned subsidiary, US Foods, Inc. The proceeds will help redeem existing 5.875% senior unsecured notes due 2024. The offering is exempt under the Securities Act and is aimed at qualified institutional buyers and non-U.S. persons. The notes are unregistered and may not be sold in the U.S. without proper registration or exemption. There is no guarantee the offering will be completed as proposed.
US Foods will host a live conference call on February 16, 2021, at 9 a.m. CST to discuss its fourth quarter and full fiscal year 2020 results. Investors can join the call by dialing (844) 292-0976, using conference ID 8790319. A replay will be available from 1 p.m. CST on February 16 until March 16. The call will also be webcast live on the company’s Investor Relations website, with presentation slides accessible shortly before the webcast starts.
US Foods Holding Corp. (NYSE: USFD) will present at the ICR Conference on January 11 at 1:30 p.m. EST. Chairman and CEO Pietro Satriano, along with CFO Dirk Locascio, will discuss company insights. Media and investors can access a live audio webcast and presentation slides via the company's Investor Relations page. A replay will be available the same day. US Foods is a leading foodservice distributor, supporting around 300,000 restaurants nationwide, with over 70 locations and 78 cash and carry stores.