Spotlight on Business Headlines
NIKE SALES SOAR N holidays. The gains come as Nike used the coronavirus pandemic as an opportunity to accelerate its dig - ital business, and its women’s apparel division which has grown nearly 200 percent. It’s latest results are a strong reversal for Nike after it experienced a bigger slump last quarter. At the end of June, Nike reported an unexpected loss, as its revenue tumbled 38 percent year over year, hurt by the temporary closure of stores during the pandemic. ike reported an 82 percent increase in on- line sales and offered up a sales outlook that calls for demand to grow through the GENERAL MILLS FOCUSED ON NET-ZERO EMISSIONS GOAL A merican food giant General Mills plans to reduce greenhouse gas emissions by 30% in the next decade across the entire life of its products, aiming to reach net-zero emissions by 2050. The food maker will seek to reach the goal through improved agricultural practices, reduced packaging, and halving food loss and waste by 2030. General Mills is also promoting regenerative agri - culture, an approach that aims to improve soil health and biodiversity. In January, the company launched a pilot program with farmers near a Kansas reservoir to improve water quality in the area, following other pilots in North Dakota, Sas- katchewan and Manitoba. By 2030, the company seeks to have regener - ative farming implemented across one million acres of farmland, a fifth of the total acreage it sources food from in North America.
READY FOR SPAGHETTI AND BEYOND MEAT BALLS Since March, Walmart has hired more than 500,000 employees across its U.S. stores and supply chain. I t is official BeyondMeat is bringing itsmeatless meatballs to grocery stores nationwide. WALMART IS HIRING W almart recently announced that it will hire 20,000 seasonal employees to help pack and ship online purchases at its fulfillment centers as it anticipates more holiday shopping to shift online because of the corona- virus pandemic. This will be the first time in five years that the big-box retailer has announced significant holiday hiring as the retailer has largely given extra hours to its existing employees to keep up with the pace of holiday shopping. The company first made meatballs through a partnership with Subway last year, but grocery stores have also been asking for the item as customer demand for refrigerated plant-based meatballs continues to surge as competitors like Gardein and Kellogg’s Morningstar Farms already sell the meat-free meatballs. This marks Beyond’s third new grocery product in the U.S. this year. The company has already released Beyond Breakfast Sausage and its beef- free burgers in 2020.
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SEPTEMBER 2020 • SPOTLIGHT ON BUSINESS MAGAZINE
SPOTLIGHT ON BUSINESS MAGAZINE • SEPTEMBER 2020
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