‘Importantly, we’ve seen less elasticity in the most-premium products in our portfolio’

Speaking on the firm’s Q1 earnings call Friday, CEO Ryals McMullian said: “Most encouragement is the fact that with a significant amount of price increases in January, we actually grew our units as well with our top brands, Nature’s Own, Dave’s Killer Bread, and Canyon Bakehouse.​ “Despite higher prices and supply chain headwinds, volumes for … Read more

Mondelēz confirms progress in meeting ESG goals

The company said its ESG strategy and goals prioritise delivering lasting change at scale through ‘innovative and holistic approaches, collaboration for sector-wide transformation and adoption of measurable solutions’. ESG remains a long-term value driver at Mondelēz and is core to the company’s purpose, it said in a statement to the media: ‘The 2021 Snacking Made … Read more

Mondelēz to offload US gum brands, prioritises long-term growth

The decision comes after Mondelēz launched a review of its gum business last year. The company has begun looking for a buyer and there’s no timeline yet for a sale, a spokesperson told CNN Business. In an investor event held on Tuesday, Mondelēz updated its long-term algorithm to 3 to 5% organic net revenue growth, … Read more

Hershey moves to sixth on DiversityInc’s Top 50 Companies list

The Hershey Company’s diversity, equity and inclusion (DEI) efforts through various initiatives has been acknowledged after it was named sixth on DiversityInc’s Top 50 Companies for Diversity list, reflecting an advancement over the past several years from no. 33 in 2018. This recognition reinforces the company’s progress against its DEI commitments, with the implementation of … Read more

Ferrero claims substantial inroads with its latest Cocoa & Forests Initiative (CFI) report

With 346,000 hectares covered with deforestation risk assessments, Ferrero said it has doubled its initial target for 2022, and overcame additional challenges for Ferrero cocoa farmers and suppliers during the COVID-19 global In partnership with the Cote d’Ivoire and Ghana governments, and leading cocoa and chocolate companies, the CFI report showcases a comprehensive program of … Read more

Can Hershey hold on to share gains as capacity constrains bump against increased demand?

“We have gotten off to a tremendous start to the year with reported sales growth of 16% and adjusted EPS growth of almost 32% in Q1”​ thanks in part to resilient consumer demand despite mid- to high-single-digit price increase across the portfolio and a “Strategic focus on enhancing our offerings and price points to ensure … Read more

Mars launches two major initiatives to support living incomes for cocoa farmers

With support from Fairtrade, USAID, I4DI and ECOOKIM, the farmer-first programs will aim to support 14,000 smallholder farmers in Côte d’Ivoire and Indonesia on a path to sustainable living income in the next eight years. “Ten years ago, Mars decoded the cocoa plant genome for the first time. Today we are aiming to crack the … Read more

Hershey increases earnings outlook after strong Q1

Revenue rose 16.1% to $2.67bn, beating estimates of $2.48bn, according to the company’s First-Quarter 2022 Financial Results. Hershey said demand in response to price increases was stronger than expected but is likely to taper off due to rising inflation and fewer US government benefits. Consumer buying power has been under pressure from rising food prices … Read more

Impulse purchases evolve to meet new consumer demands, shopping habits post COVID

Once limited mostly to individually-wrapped items corralled by the checkout stand to be consumed within seconds of leaving the store or on-go, impulse purchases today are more likely to be sharing sizes and larger multi- or variety-packs – reflecting the Shift to working and snacking at home, and the desire to balance the demands of … Read more

Mondelēz agrees sale with Grupo Bimbo for Ricolino and other key chocolate brands

The $1.3bn deal between the two giants will transform Mondelēz’s business in the high-priority Mexico market to accelerate growth and scale in core snacking categories. Ricolino is a growing business with a leading confectionery position in Mexico with approximately $500m in annual revenue, employing almost 6,000 staff. An attractive entry point The acquisition will double … Read more