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Each day at 5 p.m. we collect the five top food and supplement headlines of the day, making it easy for you to catch up on today's most important natural products industry news.
February 25, 2021
Herbalife executives are taking the company's revenue climb of 15.6% to $1.41 billion during the quarter ended Dec. 31 and running with it. They plan to use tools including virtual roadshows, investor conferences and conversations with analysts to rebrand Herbalife as a growth company (instead of a pyramid scheme), as well as attract long-term, international investors that can help stabilize its share price. The Wall Street Journal has the story.
This week Oatly submitted a confidential filing for an initial public offering with the U.S. Securities and Exchange Commission; the company is rumored to value itself at $10 billion. Oatly's sales nearly doubled to $200 million in 2019 and were expected to do the same in 2020 as plant-based dieting for health and environmental reasons skyrocketed in popularity. The Guardian reports.
On the same day that the Los Angeles County Board of Supervisors voted 4-1 to give grocery workers a short-term $5 per hour pay increase, the California Grocers Association filed for a preliminary injunction against the city of Long Beach. The group argues that the ordinance preempts federal labor and equal protection laws and violates both the U.S. and California constitutions. Should the ordinance stand following the lawsuit, it could set a precedent for hazard pay in more areas, higher wages and better working conditions. Learn more at Civil Eats.
A new report from FMI finds that 46% of seafood consumers are "likely" to try plant-based seafood. Shoppers interested in plant-based seafood were also concerned about nutritious and healthy eating (57%), in addition to sustainability (62%). Curiousity was also a driving factor for 35% of seafood consumers to test out emerging plant-based options.
And the need for plant-based seafood has never been clearer: One-third of all freshwater fish now face extinction, new research shows. Freshwater biodiversity is declining at twice the rate of that in forests and oceans, despite their importance to millions of people around the world. Freshwater ecosystems face threats including habitat destruction, hydropower dams, overfishing, the introduction of invasive species and ongoing climate change. Read the details at CBS News.
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