Lamb Weston announced today its fiscal second quarter 2023 results and updated its fiscal 2023 outlook. “We delivered strong top and bottom-line results in the quarter,” said Tom Werner, President and CEO. “Because of our financial performance in the first half of fiscal 2023 and our broad operating momentum, we have raised our annual sales, gross margin and earnings targets. In addition, we look forward to beginning to capture strategic, commercial and operational benefits from the acquisition of our partner’s interest in our European joint venture.”
Global Trends
Australian supermarkets place buying limit on frozen chips
Australian supermarket giant Coles has introduced a two-item limit on frozen chips after flooding across the eastern coast impacted the supply of potatoes, according to a report by 1News. A Coles spokesperson told Nine that the limit, beginning on December 15, will likely be lifted within months. “Poor weather in the eastern states has affected supply of some frozen potato products across the industry,” they said.
Why a good potato storage facility is worth the investment
“I recently visited a state-of-the-art potato storage in western Manitoba, a very large building with all the bells and whistles,” writes Peter Alder, Appraiser at FFC in this technical article. “I could feel the excitement and pride shared by the owner of this large facility as it promises to deliver everything a pile of potatoes would ever need to make it through the storage season in great condition and deliver a great quality product just-in-time to the processing plant.”