Food Business News - November 24, 2020 - 9

throughout the quarter driven by strong
comparable sales in food categories. He
attributed the improvement to expanded
store hours, improving in-stocks and
strong price positioning.
" We continue to see trip consolidation and significantly larger baskets in Q3,
resulting in an average ticket increase of
about 24% and a transaction decrease of
about 14%, " he said. " Customer transactions began to improve after we expanded
store hours, and we expect this trend to
continue as we further extend store hours
this month. "
Mr. Furner said food comparable sales
were up in the mid- to high-single-digit range and that the company gained
market share during the quarter. He said
Walmart's food business has been boosted
by an improved ability to maintain adequate product inventories. He added the
food sector has experienced only modest
price inflation " in some food categories. "
" But no major change there, " he

said. " Our price gaps did widen in the
second quarter... We did note that we saw
less promotions around the market, and
primarily that would have been caused by
the number of stock-outs that we're seeing
nationally. So again, in the quarter, we
definitely saw less promotions. As we said
earlier, our price gap versus our competition widened in the second quarter and
remained wide in the third quarter. "
Mr. McMillon was asked whether
Walmart is seeing pantry loading again.
" It really does have everything to do
with what's happening with COVID cases
in any particular community, " he responded. " I was in stores last week, and I saw
variance from one state to the other, one
location to the other. It just depends on
how people are feeling in that moment. "
Regardless of Walmart's success
during the quarter, Mr. McMillon said
many of the company's vendors have been
adversely affected by the worsening coronavirus pandemic. He called for assistance

Unilever accelerating meat-,
dairy-alternative innovation

from the federal government.
" We realize the increasing cases will
put more pressure on small businesses
that have been heavily impacted by the
pandemic, " he said. " As various governments around the country tighten up to
help keep people healthy, it will be imperative that elected officials in Washington
work together to deliver the help so many
small businesses need to get through this
next phase of the pandemic. "
He offered congratulations to President-elect Joe Biden and said the company
looks forward to working with the new
administration and both houses of Congress to " move the country forward and
solve issues on behalf of our associates,
customers and other stakeholders. "
In the nine months ended Oct. 31,
Walmart net income was $15.6 billion,
equal to $5.51 per share, up 45% from
$10.74 billion in the same period last year.
Net sales were $404.25 billion, up 7% from
$379.32 billion. FBN

Unilever plans to double
the number of products
delivering positive
nutrition globally by 2025.

UNILEVER

UNILEVER

LONDON - Unilever PLC said Nov. 18 it
has set a goal of achieving $1 billion in
the sales of plant-based dairy and meat
alternatives in the next five to seven years.
Brands that will play a role in the initiative
include Hellmann's, Magnum, Wall's and
The Vegetarian Butcher.
Citing a 2019 EAT-Lancet report, the
company said a diet rich in plant-based
foods with less animal-sourced foods offers
both health and environmental benefits.
" As one of the world's largest food
companies, we have a critical role to play
in helping to transform the global food
system, " said Hanneke Faber, president of
Unilever's Foods & Refreshment Division.

November 24, 2020

" It's not up to us to decide for people
what they want to eat, but it is up to us to
make healthier and plant-based options
accessible to all. These are bold, stretching
targets which demonstrate our commitment to being a force for good. "
Unilever has made progress in expanding its meat- and dairy-alternative product
portfolio. The company acquired The
Vegetarian Butcher business in 2018 and
has expanded the brand into more than 30
countries. Last year, the brand was chosen
as the supplier of Burger King's plant-based
Whopper and plant-based nuggets across
Europe, the Middle East and Africa.
Both the Ben & Jerry's and Magnum
brands feature a growing list of plantbased product applications. Hellmann's
offers a vegan variety of mayonnaise.
In 2019, Unilever made an €85 million ($101 million) investment in The Hive,
a food innovation center at Wageningen
University in The Netherlands to support
research into plant-based ingredients and
meat alternatives, efficient crops, sustainable food packaging and nutritious food.
Additional goals set by Unilever include halving food waste in its direct global

operations from factory to shelf by 2025,
five years earlier than previously planned,
and doubling the number of products
delivering positive nutrition globally by
2025. " Positive nutrition " is defined by the
company as products containing impactful
amounts of vegetables, fruits, proteins, or
micronutrients like vitamins, zinc, iron
and iodine. Unilever will also continue to
reduce the calorie, salt and sugar levels in
its products.
" The average person's daily diet will
need to change drastically during the next
three decades to make sure everyone is
fed without depleting the planet, " said
Jessica Fanzo, Bloomberg Distinguished
Associate Professor of Global Food &
Agricultural Policy and Ethics at Johns
Hopkins University and a co-author of
the EAT-Lancet report. " By improving
food production and food environments,
transforming eating habits and reducing
food waste, we can begin to solve these
problems. Unilever's commitments are
integral to helping people make changes
to their diet, with healthier and more sustainable food products that are accessible
and affordable for their consumers. " FBN
Food Business News

9



Food Business News - November 24, 2020

Table of Contents for the Digital Edition of Food Business News - November 24, 2020

Food Business News - November 24, 2020 - 1
Food Business News - November 24, 2020 - 1
Food Business News - November 24, 2020 - 2
Food Business News - November 24, 2020 - 3
Food Business News - November 24, 2020 - 4
Food Business News - November 24, 2020 - 5
Food Business News - November 24, 2020 - 6
Food Business News - November 24, 2020 - 7
Food Business News - November 24, 2020 - 8
Food Business News - November 24, 2020 - 9
Food Business News - November 24, 2020 - 10
Food Business News - November 24, 2020 - 11
Food Business News - November 24, 2020 - 12
Food Business News - November 24, 2020 - 13
Food Business News - November 24, 2020 - 14
Food Business News - November 24, 2020 - 15
Food Business News - November 24, 2020 - 16
Food Business News - November 24, 2020 - 17
Food Business News - November 24, 2020 - 18
Food Business News - November 24, 2020 - 19
Food Business News - November 24, 2020 - 20
Food Business News - November 24, 2020 - 21
Food Business News - November 24, 2020 - 22
Food Business News - November 24, 2020 - 23
Food Business News - November 24, 2020 - 24
Food Business News - November 24, 2020 - 25
Food Business News - November 24, 2020 - 26
Food Business News - November 24, 2020 - 27
Food Business News - November 24, 2020 - 28
Food Business News - November 24, 2020 - 29
Food Business News - November 24, 2020 - 30
Food Business News - November 24, 2020 - 31
Food Business News - November 24, 2020 - 32
Food Business News - November 24, 2020 - 33
Food Business News - November 24, 2020 - 34
Food Business News - November 24, 2020 - 35
Food Business News - November 24, 2020 - 36
Food Business News - November 24, 2020 - 37
Food Business News - November 24, 2020 - 38
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Food Business News - November 24, 2020 - 40
Food Business News - November 24, 2020 - 41
Food Business News - November 24, 2020 - 42
Food Business News - November 24, 2020 - 43
Food Business News - November 24, 2020 - 44
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Food Business News - November 24, 2020 - 46
Food Business News - November 24, 2020 - 47
Food Business News - November 24, 2020 - 48
Food Business News - November 24, 2020 - 49
Food Business News - November 24, 2020 - 50
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Food Business News - November 24, 2020 - 53
Food Business News - November 24, 2020 - 54
Food Business News - November 24, 2020 - 55
Food Business News - November 24, 2020 - 56
Food Business News - November 24, 2020 - 57
Food Business News - November 24, 2020 - 58
Food Business News - November 24, 2020 - 59
Food Business News - November 24, 2020 - 61
Food Business News - November 24, 2020 - 62
Food Business News - November 24, 2020 - 63
Food Business News - November 24, 2020 - 64
Food Business News - November 24, 2020 - 65
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