Tasty Tidbits

• The non-grocery category of the retail sector continues to struggle as evidenced by Best Buy’s first quarter report for fiscal 2010: net earnings were $153MM, a decline of 15% compared with $179MM 1 year ago. In a sign of improvement and aggressive marketing, total revenue increased 12% to $10.1bn, compared with $9bn for the first quarter of fiscal 2009. Overall the domestic segment’s first-quarter revenues totaled $7.5bn, an increase of just under 1%. Part of the growth was from 115 stores added to the chain in the past year, with comparable-store sales declining 4.9%.

• Regular readers our subscription newsletter know already that IBC (Interstate Bakeries Corp.) recently emerged from bankruptcy. Makers of Wonder Bread, IBC is one of the few major bread companies around. But following their entry into Chapter 11, they closed four plants in the Southern California market, but are now poised to return with Wonder, Home Pride and Nature’s Pride brands.

• Mobile consumer marketing continues to catch on with Mass Connections developing “Consumer Alert” to update potential customers with real-time messages about new promotions. The service will rolled into the existing promotional & marketing campaigns the company develops for retailer clients.

• CIT Group, Inc. has fended off bankruptcy after being turned down for more U.S. Treasury bail-out funds after seeking help from the private sector. The company has been especially active in lending money to restaurants.

• NYC’s White Coffee has licensed the Kahlua brand for flavored coffees.

• "Getting lit up" might take on a different meaning in Arizona now that the governor has signed a bill authorizing those with concealed weapons permits to “pack heat” at bars & restaurants that serve alcohol. Owners who don’t want gunplay will have to post a sign outside their establishments saying “no guns allowed.” The bill was backed (are we surprised?) by the other NRA: the National Rifle Association.

• On a lighter note, Cake.com, a supplier of cake decorating products, has been credited by The Guinness Book of World Records with the top cupcake. Weighing 150 pounds, it can serve 1,500 of your closest friends. Frosted and presented at the Mall of America in Minnesota, it’s a foot tall and 2 feet wide, and was attended by 2,500 normal-sized cupcakes.

This blog includes excerpts from a weekly round-up of food industry & food licensing news provided free to Broad Street Licensing Group's clients, and as a paid subscription service (6 months $695; 1 year $1,125).

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