With US markets off for Presidents’ Day, a quiet news cycle let the world’s largest pork producer hog some attention. Virginia-based, Hong Kong-owned Smithfield Foods announced plans to build a $1.3 billion “state-of-the-art” processing facility in Sioux Falls, South Dakota. Local officials billed it as a “once-in-a-generation opportunity,” though they have plenty of reasons to ham things up. SUBSCRIBE:  Receive more of our free The Daily Upside newsletter. READ ALSO: Can Alibaba’s Qwen3.5 Help Chinese A ...

Group 1 - JBS is closing a case-ready production plant in Riverside, California, affecting 374 jobs, with the shutdown scheduled for February 2 [1][2] - The closure is part of JBS's strategy to optimize its value-added and case-ready business and simplify operations [1] - Production will be shifted to other undisclosed JBS plants, with relocation support offered to affected workers [2] Group 2 - JBS's competitor, Tyson Foods, also announced a closure of a beef-processing plant in Nebraska as part of a strategy to right-size its struggling meat business [2] - JBS reported a year of declining beef volumes and an adjusted operating loss for the beef segment in fiscal 2026, leading to operational changes including converting its Amarillo, Texas facility to a single full-capacity shift [3] - The company has plans to expand its operations, including a $200 million investment to boost beef capacity in Texas and Colorado [3] Group 3 - In addition to the plant closure, JBS announced a $135 million investment in a new sausage factory in Perry, Iowa, which will create 500 jobs [4] - The company also acquired a former Hy-Vee facility in Ankeny, Iowa, planning to invest $100 million for bacon and sausage production [4]

Group 1 - McDonald's Corporation is facing challenges in the restaurant industry but is responding by cutting prices significantly, which is proving effective [1] - The company reported disappointing revenue and earnings, leading to concerns about its stock performance; however, the price cuts are expected to attract customers [1] - The market reaction to McDonald's price cuts has been positive, with the stock finishing up despite overall market conditions [1] Group 2 - McDonald's operates and franchises restaurants that offer a variety of food items including burgers, chicken sandwiches, fries, beverages, and desserts [2]

Core Insights - McDonald's latest earnings report highlights a growing divide among U.S. consumers, with wealthier Americans continuing to dine out while lower-income families are opting to eat at home due to rising living costs and stagnant wages [1][3] Financial Performance - McDonald's U.S. same-store sales increased by 2.5% year-over-year, while global sales rose by 3.6%, although adjusted earnings per share (EPS) of $3.22 fell short of analyst expectations of $3.32 [1] - The company's revenue for the quarter was reported at $7.1 billion [1] Consumer Trends - There is a noticeable decline in quick-service restaurant (QSR) traffic among lower-income consumers, with a drop of nearly double digits in the third quarter, a trend that has persisted for almost two years [3] - Conversely, QSR traffic among higher-income consumers has shown strong growth, increasing by nearly double digits during the same period [3] Strategic Initiatives - To address the challenging economic environment, McDonald's plans to focus on delivering everyday value, menu innovation, and compelling marketing to attract customers [3] - The company is reintroducing extra-value meals, such as a $5 Sausage, Egg & Cheese McGriddles meal and an $8 10-piece Chicken McNuggets meal, starting in November [3] - Additionally, McDonald's has brought back the promotional game Monopoly in the U.S. for the first time in nearly a decade, emphasizing digital engagement [3]

Core Insights - McDonald's is struggling to attract lower-income consumers, while higher-income consumers are increasing their visits, leading to a 2.4% increase in U.S. same-store sales in Q3, driven by check growth [1][2] - The CEO highlighted the company's ability to achieve sustainable growth despite a challenging economic environment, with a bifurcated U.S. economy expected to persist into 2026 [2] - Traffic among lower-income consumers has decreased by double digits, while traffic among higher-income consumers has increased by double digits [2] Economic Environment - The pressures faced by low-income consumers include high rents, food prices, and childcare costs, contributing to significant inflation that affects their spending behavior [3] - The company anticipates that until low-income consumers feel relief in their cost of living and see real income growth, significant changes in their spending patterns are unlikely [3] Strategic Initiatives - McDonald's has relaunched its Extra Value Meals (EVM) program to attract more customers, which includes eight meal offerings and aims to generate traffic in a value-focused environment [3][4] - The company is optimistic about the EVM program's performance, expecting sales lift and traffic improvements as awareness increases over the coming quarters [4] - A beverage test involving 500 restaurants in Colorado and Wisconsin has yielded initial results that exceeded expectations, featuring popular items like cold coffees and crafted sodas [5]

Core Viewpoint - Luckin Coffee, China's largest coffee chain, has opened its first locations in the United States, specifically in New York City, after successfully competing against Starbucks in Asia [1][5]. Group 1: Store Launch and Promotions - Luckin Coffee opened its first US locations on Monday, including two in New York City [1][5]. - The company is promoting its new storefronts with special deals, such as offering free tote bags to the first 100 customers and 99-cent drinks for a limited time [2][11]. Group 2: Product Offerings and Pricing Strategy - Luckin Coffee offers a diverse menu that includes coffee, matcha, lattes, and fruity drinks, along with pastries like banana yogurt loaf and sausage, egg, and cheese croissant [3]. - The chain's pricing strategy is competitive, with drinks in China priced approximately 30% lower than those at Starbucks [3]. Group 3: Company Background and Growth - Founded in Xiamen, China in 2017, Luckin Coffee rapidly expanded to surpass Starbucks in the number of storefronts by 2019, currently operating around 22,000 locations in China and additional stores in Singapore [4]. - Despite facing a significant scandal in 2020 involving accounting fraud, which led to a $180 million fine and a $175 million settlement, the company has continued to grow, doubling its number of stores and increasing revenue by 87% in 2023, outperforming Starbucks in China [7][9]. Group 4: Competitive Landscape - Recent reports indicated that Starbucks was exploring a partial sale of its Chinese business, although the company has since denied these claims [10].

Table of Contents As filed with the Securities and Exchange Commission on January 21, 2025. Registration No. 333-284141 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 AMENDMENT NO. 1 TO FORM S-1 REGISTRATION STATEMENT UNDER THE SECURITIES ACT OF 1933 Smithfield Foods, Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (Primary Standard Industrial Classification Code Number) Virginia 2013 52-0845861 (I.R.S. Emplo ...