Market Trends

SAN FRANCISCO - About 200 restaurants, grocers and seafood distributors pledged Wednesday not to buy, serve or sell fish created by biotechnology, joining some environmental groups and fishermen in opposing genetically engineered seafood, The Associated Press reports.

SYRACUSE, N.Y. - The Penn Traffic Company on Wednesday announced that second-quarter earnings fell. The retailer also restated financial results for the previous three years following an accounting fraud.

CINCINNATI - Leading U.S. supermarket company Kroger Co. on Tuesday reported higher quarterly profit due to cost cutting and a push to improve customer service to offset competition from Wal-Mart Stores Inc., Reuters reports.

WASHINGTON - A Smithfield Foods Inc. meat plant said on Monday it recalled 203,600 pounds of fresh ground beef products because of concerns they may be contaminated with the potentially deadly E. coli bacteria.

ARDMORE, Pa. - Investor relations firm Gregory FCA, based in Ardmore, Pa., has found that institutional investors have increased their holdings in the food retail industry by nearly 11 percent in the most recently reported quarter.

ATLANTA - Big Y Foods Inc. has said it will use RetailERM from Atlanta-based Workbrain to streamline and transform its workforce management processes for its 8,000 employees, across its 48 supermarkets, distribution center, and corporate headquarters.

CINCINNATI - The Kroger Co. on Friday announced it has reached an agreement to purchase 18 Raley's stores in Las Vegas.

NASHUA, N.H. - Identico Systems on Monday announced that it has been selected by the California Grocers Association (CGA) to offer its True ID fraud prevention services under CGA's new Membership Access Program.