SeaFood Business

APR 2014

SeaFood Business is the global trusted authority for seafood buyers and sellers. We are the seafood industry's leading trade magazine with more than 30 years of experience. Our coverage is based on the "business" of buying and selling seafood.

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Throw Backs 2001 2011 Proftable partnerships Chefs, vendors dish on the importance of trust demonstrated. "I'd rather work closely with a small number of suppliers in order to get their loyalty, and vice versa," said Paul Siekel, owner of six casual-dining spots in the Midwest, including Crabtown in Oklahoma City. Susan Goss, chef-owner of Zinfandel in Chicago, said she relied on her two most trusted vendors to give her "suggestions on what I should be menuing." A sexy seafood selection can break a menu free from the crowd. Chefs have always known this, and some are notoriously critical of their suppliers to get top quality fsh. Tight relationships always matter, to both independent and chain restaurant buyers. Fishmongers who rise above the competition become partners, not simply vendors, as the article Menus Are Built on Trust Stock options McCormick & Schmick's rides high as a publicly traded company Eat it twice (as much) Updated federal guidelines endorse doubling seafood consumption in the world, behind China and Japan, had a fsh defciency that would take more than doctors' orders to turn around. "Seafood is just not making its way into peoples' lives in any signifcant way," said Jennifer McGuire, R.D., and manager of nutrition communication for the National Fisheries Institute, even though consumption goals were "very incremental and quite attainable." M om says eat your fsh, and so does Uncle Sam. In the article Fish to the Rescue?, government agencies advised Americans to double the amount of seafood they consumed for the health benefts. Yet per-capita consumption was trending in the other direction, down to 15.8 pounds from a high of 16.6 (and continues to fall, hitting 14.4 pounds in 2012). Te third-largest seafood market company was doing nearly $280 million in annual sales. But the economic recession stalled its aggressive plans to grow and satisfy hungry investors. "It's not a slam dunk — nothing is in this business," warned Ron Paul, president of foodservice research frm Technomic. In late 2011, Houston-based Landry's Restaurants took over McCormick & Schmick's for $8.75 a share. T he plan was to turn a successful and growing company into a juggernaut by tripling its 60 restaurant locations in 25 states within a decade. McCormick & Schmick's could never be accused of thinking small, even during its humble beginnings in 1972, when Bill McCormick bought a struggling crawfsh shack in Portland, Ore. According to the article Market Gains for M&S, within 34 years that 2006 April Vol. 25, No. 4 April Vol. 20, No. 4 April Vol. 30, No. 4 16 SeaFood Business April 2014 For updated NEWS, go to www.SeafoodSource.com 10_16NewsRecap.indd 16 3/25/14 11:33 AM

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