WASHINGTON - The following statement may be attributed to National Retail Federation President and CEO Matthew Shay regarding the Trump administration’s announcement that it will reduce tariffs on imports from China for 90 days to continue trade negotiations:

We applaud the U.S. and China for agreeing to a 90-day pause on the 125% reciprocal and retaliatory tariffs. We are encouraged by these constructive negotiations, which provide for a significant de-escalation in the current trade relationship.

This temporary pause is a critical first step to provide some short-term relief for retailers and other businesses that are in the midst of ordering merchandise for the winter holiday season. And over the long term, this lays the foundation for substantial progress in achieving truly fair and balanced trade relationships with both China and our other trade partners around the world.

We urge the administration and our Chinese trade partners to continue discussions to address the ongoing issues, work to remove the remaining national security tariffs, and provide long-term stability between the two largest global economies.

NEW ROCHELLE, NY - LGS Specialty Sales, a leading importer of citrus, avocados, grapes, and persimmons, shares an update on its mandarin supply ahead of the summer season. The company expects a seamless transition from domestic and Moroccan fruit into the southern hemisphere supply, offering Clemenules and Orograndes varieties over the next month and then transitioning to W. Murcotts and Tango varieties late-June/early-July.

“This year, we are experiencing excellent timing for southern hemisphere fruit,” said Lucio Rainelli, Director of Sales at LGS Specialty Sales, in a recent press release. “Moving directly from Moroccan W. Murcotts to Clementines from the southern hemisphere should alleviate any issues with supply disruption or quality.”

Fruit will be arriving to the U.S. the week of May 12, with a heavier supply anticipated the following week. The earlier timeframe ensures quality fruit will remain on the shelves despite the shift in growing regions.

“We are extremely pleased to offer our customers a smooth transition and give consumers an excellent eating experience with this year’s higher volume, great sizing, and color,” added Rainelli. “Looking forward to a good summer season ahead!”

To place an immediate order of mandarins today, please contact [email protected]. For nutritional facts and additional information, please visit lgssales.com or follow LGS Sales’ social media platforms for daily inspiration at Facebook, X, and Instagram.

ROSEMONT, IL - US Foods Holding Corp., one of the largest foodservice distributors in the United States, today announced results for the first quarter of fiscal year 2025.

First Quarter Fiscal 2025 Highlights

• Total case volume increased 1.1%; independent restaurant case volume increased 2.5%
• Net sales increased 4.5% to $9.4 billion
• Gross profit increased 8.0% to $1.6 billion
• Net income increased 40.2% to $115 million
• Adjusted EBITDA increased 9.3% to $389 million
• Diluted EPS increased 48.5% to $0.49; Adjusted Diluted EPS increased 25.9% to $0.68

“Durin the first quarter we outperformed the industry and again delivered strong profitability, with Adjusted EBITDA growing 9% and Adjusted Diluted EPS increasing 26%, despite the challenging operating environment and weather-related headwinds. Our results speak to the strength of our customer value proposition and relentless execution of our strategy,” said Dave Flitman, CEO. “We are delivering consistent share gains with our target customer types, including our 16th consecutive quarter of growth with independent restaurants and 18th consecutive quarter of growth with healthcare.”

Flitman added, “Our focused strategy, combined with our ability to drive improved profitability through controlling what we can control, highlight the resilience of our business model and our ability to adjust to any macro environment. I thank our associates for their hard work and dedication supporting our customers and executing our strategy. Despite near-term macro uncertainty, I remain confident that we will deliver on our 2025 guidance of 8% to 12% Adjusted EBITDA growth and 17% to 23% Adjusted Diluted EPS growth.”

“We again delivered operating leverage improvement, as Adjusted Gross Profit grew faster than Adjusted Operating Expenses, which was driven by our self-help initiatives,” added Dirk Locascio, CFO, in a recent press release. “We remain focused on effective execution of our initiatives aimed at expanding margins, delivering strong earnings growth, and generating substantial cash flow, which drives our confidence in achieving our long-range plan.”

“I am also excited to announce that our Board authorized a new $1 billion share repurchase program, which demonstrates our commitment to return capital to shareholders. Enabled by our strong cash flow and capital structure, we expect to return to more meaningful share repurchases in the second quarter and the balance of the year.”

See the full report here.