Operators finally see some top-line upside, and E&S is benefitting.
Pulled down by a very weak quarter from Manitowoc Foodservice, eight publicly reporting equipment and supplies companies saw combined revenue growth slow to 2.9% in the fourth quarter of 2014 vs. the same quarter in 2013. It was the slowest quarter since the third quarter 2012 and follows four consecutive quarters during which growth exceeded…
As in the U.S., positive employment trends and low inflation in the U.K. are helping foodservice record the strongest growth since before the Great Recession, according to Horizons, a London-based foodservice research firm. Speaking at the firm’s Annual Briefing March 10, Horizons Managing Director Peter Backman said nominal foodservice growth for 2014 was 3.8% with…
Just when it seemed the drop in gasoline prices had reversed itself, another drop in prices for crude oil has pushed gas prices down again. Crude oil prices reached a 6-year low in mid-March and have remained flat or lower since. According to data from the AAA Fuel Gauge Report, the average price for a…
In spite of a small retreat in March, attributable mostly to harsh winter weather, consumer confidence for the first quarter of 2015 averaged 95.5, its strongest reading since 2004, according to the University of Michigan Surveys of Consumers. The UM Consumer Sentiment Index was 93 in the final March reading, down slightly from 95.4 at…
Two major appointments have been made at Cini-Little Int’l., the foodservice consulting firm. Richard Eisenbarth, FCSI, has been named President and COO, succeeding Theodore Farrand, FCSI, who assumes a new post as Director of Management Advisory Services. Both promotions were announced late last month by Cini-Little Chairman Bill Eaton, FFCSI, who praised the skills of…
In a move that expands its portfolio of foodservice repair parts and accessories for chain restaurants and their associated franchisees, Franklin Machine Products has acquired Duraparts, the chain-focused distributor of foodservice parts and accessories. “Our customers will benefit through significant scale advantages in product expansion and purchasing synergies,” stated Frank Gannon, Owner of Greer, S.C.-based…