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Bachan’s buoys Marzetti sales | Food Business News

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Bachan’s buoys Marzetti sales | Food Business News

WESTERVILLE, OHIO — The addition of the Bachan’s Japanese barbecue sauce brand helped drive sales to a fourth consecutive year of record highs at Marzetti Co. Texas Roadhouse dinner rolls also continued to build momentum, even while dealing with a tough year-over-year comparison to the previous year’s rollout.

For the 2026 fiscal year ended June 30, Marzetti posted net income of $191.61 million, equal to $6.986 per share on the common stock, up 14% from $167.35 million, or $6.08 per share, in fiscal 2025. The most recent year included a net income benefit of $16.6 million from restructuring, impairment and other charges related to the sale of the company’s property in Milpitas, Calif. Net sales in 2026 rose 1% to $1.93 billion from $1.91 billion a year ago, driven by a 2.4% gain in the Foodservice segment to $927.05 million, which helped offset a narrow decline in Retail sales, which fell to $1.002 billion from $1.003 billion.

David Ciesinski, president and chief executive officer of Marzetti Co., told analysts during an Aug. 25 conference call that the company expects stronger top-line growth for recently-acquired Bachan’s in the back half of fiscal 2027, driven by continued investments in marketing and advertising to build the brand’s awareness and trial. He said the company has two “exciting innovations” on tap.

“First is Bachan’s wing sauce, which will be produced at our own Horse Cave, Ky., facility,” Ciesinski said. “Crafted by the Bachan’s team in conjunction with our culinary team, the wing sauce features craveable tamari-based flavors that deliver rich, savory depth.

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In the course of last year, retail sales for Texas Roadhouse rolls grew to almost $60 million.

| Photo: T. Marzetti Co.

“The second is Bachan’s Japanese mayo that offers a smooth, silky umami flavor. We expect the addition of the Bachan’s business to our portfolio to be a key growth driver for Marzetti in fiscal ’27. And we’re also pleased to share that the integration of this business remains on track.”

He said the mayo, in particular, presents “a really big category expansion opportunity.”

In the case of Texas Roadhouse dinner rolls, Ciesinski said Marzetti is “exceedingly happy” with the performance of the product since its launch in 2024.

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“In the course of the last year, it grew to almost $60 million in retail sales, was up 70%,” he said. “Velocities are two times the category average or thereabouts. We’re launching a second item into Walmart, and honestly, there’s more room just through better distribution on the core items for it to grow. So, if you go back 1.5 years ago, when we began to talk about that item, I estimated that it could be a $100 million in retail sales item. And I still believe that it most certainly has the potential to do that.”

Ciesinski said one of the reasons for optimism around additional growth for the Texas Roadhouse brand is household penetration. He said the brand only has about a 2.5% household penetration, which is a “really, really small” number. By comparison, he said the company’s Sister Schubert’s roll brand has household penetration of close to 10%.

“So, I think with good execution and good trial, that core has the potential to get there ($100 million in retail sales),” he said. “You add that new item, I think it should give us even more confidence that we ought to be able to get there.” 

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Stock Market New Issues Are Thriving. Here’s How To Find Them.

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Stock Market New Issues Are Thriving. Here's How To Find Them.

It might’ve been a rocky start for recent IPO SpaceX (SPCX) when it debuted on the stock market at 135 earlier this year. SpaceX did spike to 225.64 on its third day of trading, but the stock nose-dived after that, falling below 105 in less than two months. SpaceX notwithstanding, the IPO market has delivered plenty of recent stock market…

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Fed Chair Warsh Leans Hawkish In Jackson Hole Speech (Live Coverage)

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Fed Chair Warsh Leans Hawkish In Jackson Hole Speech (Live Coverage)

Federal Reserve Chairman Kevin Warsh said he’s focused on inflation and the 2% target amid strong economic signals. The S&P 500 rose slightly changed and the 10-year Treasury yield edged higher after release of the transcript at 10 a.m. ET. Recent developments since the July 29 Fed meeting raised the stakes for Warsh’s talk. Treasury Secretary Scott Bessent announced at…

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Rubrik Stock Is Falling After Earnings. Why the Reaction Doesn’t Make Sense.

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Rubrik Stock Is Falling After Earnings. Why the Reaction Doesn’t Make Sense.

Rubrik Stock Is Falling After Earnings. Why the Reaction Doesn’t Make Sense.

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U.S. Treasury yields rise amid Fed chief Warsh’s Jackson Hole opening remarks

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Go-ahead for major housing scheme at former Revlon factory site

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The scheme in Maesteg will be delivered by the commercial arim of housing association Valleys to Coast and Tai Derw Developments

The former Revlon site in Maesteg.

Plans for a £41.8m housing scheme at the site of the former cosmetics Revlon factory in Maesteg have been approved.

The development will see more than 192 homes built at the brownfield that has been vacant for more than 12 years. It will be delivered by Sylfaen, the commercially driven development subsidiary of Bridgend-based housing association Valleys to Coast, in partnership with housebuilders Tai Derw Developments, an Edenstone Group company.

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The site has become construction ready following £3.5m remediation funding from Bridgend County Borough Council and the Cardiff Capital Region.

Located adjacent to the Oakwood Estate and a short walk from Ewenny Road railway station, the project represents Sylfaen’s first scheme.

It will consist of 35 homes for social rent, 19 affordable rent homes, 54 shared ownership properties and 84 homes for open-market sale.

Work on-site is scheduled to commence in October, with the first homes expected to be ready by April 2027. Phased construction will continue through to target completion in 2031.

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James Griffiths, managing director of Sylfaen, said:“For more than a decade, this site has stood empty, but soon it will be a vibrant, thriving neighborhood. By offering a true mix of social rent, affordable ownership, and open market sale properties, we are creating opportunity and meeting a range of local housing needs.

“Our goal is to build communities where people can grow, work and belong and we look forward to working closely with key partners and local residents as we turn this long-awaited vision into reality.”

The scheme will provide a contribution of more than £100,000 to support local initiatives. Revenue generated from the open-market sales will be reinvested to help strengthen Valleys to Coast’s ongoing investment in delivering and maintaining social homes across South Wales.

Sylfaen is also inviting local residents and customers to help shape the identity of the site by submitting naming suggestions for the development, its six new streets, and its eight house types, honoring the rich industrial heritage of the former Revlon factory.

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Asda says sales set to return to growth for first time in two years

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The private equity-backed retailer said it is still in the “foothills of recovery” as it continues to push ahead with a major turnaround plan, with like-for-like sales now rising for the first time in two years

Waterlooville, UK - May 2, 2018: Asda Stores Ltd. trading as Asda, is a British supermarket retailer. The logo is prominent above the glass fronted store-front. 
Advertising, products and Sshoppers are all visible.

An Asda store(Image: MMassel via Getty Images)

Supermarket giant Asda has acknowledged that the challenging economic climate has put pressure on household budgets, but has revealed sales are poised to return to growth for the first time in two years.

The Leeds-based retailer stressed it remains in the “foothills of recovery” as it presses on with an ambitious turnaround strategy. Chief executive Allan Leighton suggested the business is approximately a third of the way through its transformation programme.

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Speaking to reporters, he said the group is broadly where he anticipated it would be following his return to Asda’s top role in late 2024, having previously steered the retailer 25 years ago.

“We have been very consistent with the fact the turnaround will take between three and five years,” Mr Leighton said. “Whenever someone says that they think it is taking a long time, I make it clear that for something of this scale, this is just how long it takes.”

His remarks came as Asda disclosed that sales have moved back into positive territory for the current quarter for the first time in two years.

Like-for-like sales for the opening seven weeks of the current quarter, stripping out fuel, have increased by 0.2%. The retailer said it is consequently closing the gap on its biggest supermarket competitors, having watched its slice of the UK market shrink in recent years.

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On Friday, the Leeds-headquartered chain posted revenues of £5.1bn for the second quarter of 2026. It said like-for-like sales fell 2.3% for the quarter, with food sales declining 1.9% over the period.

Mr Leighton added: “We saw momentum build in Q2 with stable market share, and we’re now seeing that translate into more customers choosing Asda. While this progress is encouraging, we are still in the foothills of recovery.

“There’s still more work to do as we focus on building a stronger business for the long term.”

Michael Gleeson, Asda’s chief financial officer, said: “A challenging geopolitical and economic backdrop continued to weigh on consumer confidence and household budgets during Q2. Despite these pressures, our continued investment in price and the overall customer proposition means we continue to make steady progress in our turnaround journey.”

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In May, Asda unveiled plans to join forces with retail technology giant Ocado in an effort to enhance its online grocery offering for customers.

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AI memory chip shortages could push consumer electronics prices higher

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AI memory chip shortages could push consumer electronics prices higher

FIRST ON FOX: A new policy report warns that the AI data center boom could drive up the cost of laptops, smartphones, cars and other everyday products as chipmakers shift scarce memory-chip capacity toward more profitable AI applications.

The report, published by the Abundance Institute and first viewed by Fox News Digital, says manufacturers are shifting capacity toward high-bandwidth memory, or HBM, for AI data centers, constraining the supply of conventional DRAM used in consumer devices. 

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To address the growing affordability concern, the report argues that Washington should avoid new tariffs and other trade restrictions that could further tighten supplies.

“You see consumer goods prices, consumer prices going up for average everyday technology because of this pull into the highest quality, highest capacity chipsets that are available, that are needed for the frontier models in AI,” former Rep. Patrick McHenry, R-N.C., told Fox News Digital, reacting to the new report.

“That has really tightened up the whole set of production from getting sand out of the ground and turning it into chips. Lower value to higher value, the cutting edge versus the second, third generation of chips. And all of this is really complicated, complicates things for consumers in a way that they cannot directly see, but they’re certainly being affected by it,” he said.

TRUMP SAYS ANY GOVERNOR OR MAYOR SHOULD WANT TO WELCOME AN AI DATA CENTER

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Patrick McHenry speaks during a Senate Commerce Subcommittee on Consumer Protection, Technology, and Data Privacy hearing in Washington, DC, US, on Wednesday, May 20, 2026.

Patrick McHenry speaks during a Senate Commerce Subcommittee on Consumer Protection, Technology, and Data Privacy hearing in Washington, D.C., on Wednesday, May 20, 2026.  (Al Drago/Bloomberg via Getty Images / Getty Images)

 The report says the current memory-chip shortage differs from the COVID-era semiconductor crunch because it is driven largely by AI data centers’ growing demand, even as supply bottlenecks persist. But it warns consumers may face similar effects: higher prices, fewer available products and delays in replacing or upgrading phones, computers and other electronics.

“Demand is surging, and supply bottlenecks persist. However, this time, demand is driven by the rapid growth of data centers,” the paper read. “Hyperscale data center companies are buying unprecedented quantities of the world’s most advanced memory chips. American consumers will face the same consequences: higher prices, longer wait times for products, and supply shortages that may persist for years. The memory chip imbalance is quickly becoming yet another affordability concern for households and policymakers alike.”

Stargate facility Abilene

The Stargate AI data center in Abilene, Texas, on Sept. 24, 2025. (Kyle Grillot/Bloomberg via Getty Images / Getty Images)

McHenry noted that tight supplies of memory chips — parts used in many everyday electronics — are helping push up consumer costs. He argued that less-advanced chips used in household products should be treated differently from the most sophisticated chips, which he said raise greater national-security concerns.

He also argued that efforts to de-risk supply chains from China are contributing to higher costs in the short term.

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“When you change supply chains, it will have an impact for a period of time. And consumers will pay the price for moving supply chains out of existing production capacity into new production capacity. We’re experiencing that right now. Every large international corporation is de-risking from China,” McHenry said. “And so we can call that ‘reshoring’ here into the United States, ‘friendshoring’ for allies across the globe. You see that connected with the president’s trade agenda as well. But for a period of time during that reallocation of those resources, you’re going to see supply costs go up and supply being constrained as you’re rebuilding these supply chains.”

“But consumers are going to pay the price for that in the short term. And that’s what we’re trying to remedy through better policy to get those supply chains up and running faster so you have less consumer impact and better choices for consumers,” he added.

TRUMP WARNS AI RACE IS ‘BIGGEST THING’ IN HUNDREDS OF YEARS

data center alley

“Data Center Alley” during high temperatures in Sterling, Virginia, US, on Monday, June 23, 2025. (Pete Kiehart/Bloomberg via Getty Images / Getty Images)

McHenry argued that the most advanced chips used to develop “frontier models” — AI systems with the most advanced capabilities — should be protected from China and produced through U.S. and allied supply chains. He said the resulting short-term price increases are a worthwhile tradeoff for national security.

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“We’re over the hump, I believe, on these costs being borne by the American people,” McHenry said. “I think we’re actually more five to eight years into bearing that burden, and I think the next five years are going to be far better for the American consumer because of the policies that this administration has gotten right on energy, on production of chips here in the United States and having an important distinction between high-value chipsets, low-value chip sets, high-value technology, low-value technology and what that means for the American consumer and for national security. They’ve really balanced that in a very smart way.” 

McHenry explained lawmakers must balance national-security priorities with keeping consumer costs down by distinguishing cutting-edge chips from lower-end technologies used in everyday products.

“We want to make sure we have this full stack of production and capacity here in the United States. The Trump administration has prioritized that. That is a welcome and good thing. And over time, we’re going to see the benefits. The consumer is going to see the benefits, and then you have to have the distinction between those important matters and then all the stuff that should be freely tradeable around the globe,” McHenry said. “And it’s those lower-value things like memory chips that will have a major impact on consumers and the way that the American people live. We wanna be sensitive to that and we wanna be smart as American policymakers on that.”

The Abundance Institute report called on the Federal Trade Commission (FTC) to study how  major chipmakers allocate manufacturing capacity between conventional DRAM chips used in everyday electronics and high-bandwidth memory, or HBM, used in AI data centers. 

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“The study could confirm that each firm is independently responding to price signals,” the policy report reads. 

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McHenry argued that policymakers should distinguish between cutting-edge chips with national-security implications and lower-value chips used in consumer products.

Fox News Digital contacted the FTC for comment. 

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Korn Ferry stock hits all-time high at 86.38 USD

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Mayor backs SeaGrown seaweed firm in carbon-negative Yorkshire region bid

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SeaGrown, a Scarborough company creating jobs and protecting the environment with an innovative approach to growing seaweed and shellfish in the North Sea, has been backed by York and North Yorkshire’s elected Mayor, David Skaith, as the county aims to become England’s first carbon-negative region by 2040

Elected Mayor Of York And North Yorkshire, David Skaith, On Seagrown'S Boat. YNYCA

Elected Mayor Of York And North Yorkshire, David Skaith, On Seagrown’S Boat.(Image: Local Democracy Reporting Service)

The mayor of York and North Yorkshire has thrown his support behind an innovative seaweed cultivation firm as the region pushes to become England’s first carbon-negative area.

SeaGrown, a pioneering Scarborough-based company generating employment and safeguarding the environment through a groundbreaking approach to cultivating seaweed and shellfish in the North Sea, has secured the backing of the region’s elected Mayor, David Skaith.

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The mayor recently joined the SeaGrown team aboard their workboat, Bright Blue, to witness first-hand how their revolutionary Kelpedo units are sustainably producing kelp four miles off the Scarborough coastline. The initiative, supported by combined authority funding, has allowed SeaGrown to recruit new personnel, including trainee marine crew members and scientists, to bolster their growing team.

Mr Skaith said: “We’ve got the landscape, coastline, expertise and the ambition to go further than any other region in England and become the first carbon-negative region by 2040. With my Carbon Negative Challenge Fund, we’re taking big steps towards our goal by backing the people behind our most pioneering projects.

“Just like our partners at SeaGrown, who are using our support to not only create jobs and growth in the county but also protect the rich biodiversity of our coast.”

David Skaith In Scarborough Harbour. YNYCA.

David Skaith In Scarborough(Image: Local Democracy Reporting Service)

Backed by funding from the York and North Yorkshire Mayor’s Carbon Negative Challenge Fund, the company has launched project SeaSwell — an initiative to transform Yorkshire seaweed into biostimulants for crop growth and food ingredients. The project holds significant potential to bolster the food and agricultural sectors across North Yorkshire, while simultaneously cutting carbon emissions, improving ocean health, and supporting biodiversity.

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The firm was established in 2018 by Captain Wave Crookes, a former fisherman who has held senior positions within the Royal Navy and RNLI, alongside marine scientist Professor Laura Robinson. The pair first met while working on the British Antarctic Survey.

“Joining forces with York and North Yorkshire Combined Authority on Project SeaSwell lets us take what we do every day in the North Sea and put it to good use on land,” said Captain Crookes, SeaGrown founder and director.

He added: “We’ve been growing seaweed on our KelpedoTM units for years. Now we’re working with local partners to see what that seaweed can do for the region, with trials on biostimulants and food products aimed at cutting carbon emissions.

“The Combined Authority set out to make York and North Yorkshire England’s first carbon-negative region by 2040. At SeaGrown, we love a challenge, and we’re pleased to be adding our weight to this vital task.”

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The Carbon Negative Challenge Fund is a multi-million-pound programme providing support to pioneering projects aimed at decarbonising the region while driving growth and backing businesses and communities. This encompasses community energy initiatives, building retrofitting schemes and sustainable agriculture projects.

The fund underpins York and North Yorkshire’s ambition to become England’s first carbon-negative region by 2040. York and North Yorkshire Combined Authority is due to publish its Strategy for a Sustainable Future this autumn. The document will set out how the county intends to achieve its 2040 target.

The business recently submitted an application to transform a farm shop and café at Flatts Farm, situated less than 1km inland from the east coast and roughly 250m south-east of Burniston, into a centre for seaweed and shellfish cultivation, research and development, and product processing.

SeaGrown explained that its former premises had become “too small to accommodate 16 members of staff, a larger hatchery facility and further growth in product lines, meaning only packaging and a limited amount of production could take place” at the site.

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The landowner has consented to lease Flatts Farm to SeaGrown, which stated the new premises would enable visitors, including schools, to attend and discover the environmental advantages of cultivating seaweed and shellfish.

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(VIDEO) Miss Virginia Justus Kelley Wins Miss USA 2026 in Miami, Becoming the Pageant’s First-Ever Mom to Win

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Justus Kelley

MIAMI — Justus Kelley, representing Virginia, was crowned Miss USA 2026 on Thursday night at the Adrienne Arsht Center for the Performing Arts, becoming the first mother in the pageant’s history to win the national title.

Kelley, 31, was named the winner of the 75th Miss USA competition after advancing through a field of 51 contestants representing all 50 states and the District of Columbia. She was crowned by outgoing titleholder Audrey Eckert, Miss USA 2025, whose farewell moment on stage included two accidental tumbles moments before the winner was announced, drawing a standing ovation from the crowd.

Kelley’s win carries multiple firsts for the organization. She is the first married woman to hold the Miss USA title, the first woman in her 30s to win, and the first mother, as she and her husband have served as licensed foster parents in Virginia for nearly two years. She is also Virginia’s first Miss USA winner since 1970.

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The Miss USA organization only began allowing married women and mothers to compete in 2023, with 2024 marking the first year the competition was open to all eligible women 18 and older regardless of marital or parental status. Kelley’s victory is the first tangible result of that rule change at the national level.

“I look at this like a responsibility to know that I was trusted to be the first,” Kelley said of becoming the pageant’s first mother and married titleholder, adding that she “won’t be the last.”

In a video posted to the pageant’s official Instagram account shortly after her win, Kelley reflected on the significance of the moment. “I’m Justus Kelley and I just won Miss USA 2026. This opportunity means the world to me, and not only are we celebrating the 75th anniversary but we made history tonight,” she said. “I’m the first married woman, first mom, and first woman in her 30s. It’s a great night.”

Kelley, a foster mother of two, is also a nonprofit founder and children’s book author. Her hometown has previously honored her community work by declaring March 11 “Justus Kelley Day,” according to her official Miss USA biography. She has described meeting her husband in college and discovering early in their relationship that he shared her dream of fostering children. “I married my college sweetheart, who shared with me on one of our very first dates that he, too, dreamed of fostering someday,” she has said. “Thirteen years later, we have welcomed children ranging from 7 months to 10 years old into our home.”

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Kelley also spoke about her approach to the pageant’s wardrobe requirements, saying she wore secondhand clothing throughout the competition weekend to make a point about affordability in pageantry. “I had gone into the competition weekend wearing an all-thrifted wardrobe for each phase,” she said. She recalled one moment from an earlier state-level pageant when judges complimented a suit she had found at Goodwill. “I loved one of my first USA state pageants, walking in with a really special suit that I found in Goodwill, and as soon as I walked in, the judges said, ‘Oh, you look stunning,’ and I said, ‘Thank you, $9.99 at Goodwill.’” She said the experience reinforced her belief that contestants “don’t have to spend a million dollars” to compete at a high level.

Miss Florida Aileen Cerchiara finished as first runner-up and will step in to represent the United States at Miss Universe if Kelley is unable to fulfill that role. Pennsylvania’s Elizabeth Voight placed second runner-up, followed by Iowa’s Madeline Erickson as third runner-up and Utah’s Alayzia Christopher as fourth runner-up.

As Miss USA, Kelley will represent the United States at the Miss Universe pageant in Puerto Rico in November. Her prize package is valued at more than $685,000 and includes a $150,000 salary, a Range Rover, a one-year lease in a luxury Miami apartment, a Westgate Vacation Home Club membership and a $30,000 wardrobe for the Miss Universe competition.

This year’s Miss USA marked the pageant’s 75th anniversary, presented under a “75 Years of Icons” theme, and was streamed on the Queen Beauty Network after The CW dropped both Miss USA and Miss Teen USA from its programming days before the events were set to air. The pageant also followed a leadership change within the organization, after pageant coach and judge Thom Brodeur announced last September that he would acquire the Miss USA and Miss Teen USA brands.

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The competition came a year after 2024 winner Alma Cooper announced she would not attend the 2025 pageant in Reno, Nevada, citing personal values and integrity in explaining her decision to skip the crowning of her successor.

The Miss Teen USA title was also decided this week, with Miss Georgia Teen USA Kiran Reddy, 18, crowned the 44th Miss Teen USA on Wednesday, one night before Kelley’s win.

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