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Compass North America at 112% of 2019 revenue in the third quarter

In this edition of 5 Things, Food Management highlights five things you may have missed recently about developments affecting on-site dining.

This is your list for today:

  1. Compass North America at 112% of 2019 organic revenue in Q3

Compass Group announced that third-quarter organic revenue for its North America unit, the largest foodservice contract firm in the US, increased 49.7%, while the multinational company as a whole experienced a 43.4% increase over the same period. North America results also show that third-quarter revenue is now down 112% from the same period before the 2019 pandemic. In its statement announcing the results, Compass also noted that it was “particularly pleased with the strength of the recovery of the top line in Business & Industry, now trading above its 2019 level on a run-rate basis.”

read more: Third Quarter Business Update

  1. USDA increases funding for school meals and farm-to-school programs

USDA has announced that effective July 1, 2022, the reimbursement schools receive for each meal served will increase by approximately $0.68 for free/reduced lunch and $0.32 for free/reduced breakfast. The increase includes a required annual adjustment in reimbursement rates to reflect the cost of food and an additional temporary per-meal increase in reimbursements from the recent Keep Kids Fed Act. In addition, the Department announced that it will award more than $10 million in grants farm-to-school grants to 123 projects across the country and, for the first time, will award states $60 million in non-competitive grants to develop stronger and more sustainable farm-to-school programs. for the next four years.

Read more: USDA Announces Increased Funding for School Meals, Child and Adult Care Meals, and USDA Awards Over $70 Million in Grants, Increases Access to Healthy, Local Foods for Children

  1. Major League Baseball stadium concessions feel the bite of inflation

An analysis of food and beverage prices at Major League ballparks this season found increases driven by supply issues, such as a 20% to 30% increase in acquisition cost for hot dogs between January 2021 and May 2022, the “highest annual increase in the past”. thirty years,” according to a supplier official. It was driven by record raw material prices: “packaging, corrugated cardboard, labor, meat, spices, gas,” the supplier official said, adding that annual increases Hot dog price increases generally hovered between 0% and 5% before Jan. 2021. Similar increases were also found in other ballpark staples, perhaps contributing to an overall drop in attendance of 5.4% this season since before the 2019 pandemic.

read more: How Inflation Is Affecting Your Wallet at the Ballpark Concession Stand This Season

  1. Chicago Schools Taste Test Potential New Menu Items

Chicago Public Schools is testing the entrees with students, parents and community members across the city in an effort to better satisfy students’ taste buds, with plans to conduct 40 separate taste tests this summer. A recent test at Whittier Elementary School in the Heart of Chicago neighborhood of a potato and egg breakfast taco, a vegetarian pasta salad topped with a light dressing and a creamy chocolate-chickpea sauce, unsurprisingly found that a the kids loved the chocolate sauce and chickpeas and they liked breakfast. tacos, but the vegetarian pasta salad was not that popular.

Read more: CPS showcases new school lunch recipes for top taste testers: students

  1. A new restaurant is coming to the Wells Fargo Center as part of the club level upgrades

Adrian will be the name of the new 300-seat restaurant opening this fall at the club level at Philadelphia’s Wells Fargo Center through a partnership involving Comcast Spectacor, Aramark Sports and Entertainment and Stephen Starr. With an American-style menu that includes raw entrees, French onion soup, sandwiches, crab cakes and several steak options, Adrian is part of a club-level renovation of the Wells Fargo Center that also includes the creation of a new entrance and lobby with premium seating, new seating options and open floor design, signature shops and themed whiskey and tequila bars. The venue serves as home to the NHL’s Philadelphia Flyers and the NBA’s Philadelphia 76ers.

Read more: More details emerge about Stephen Starr’s new 300-seat Wells Fargo Center restaurant

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Contact Mike Buzalka at [email protected]

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