News
Food and beverage industry news.
J.M. Smucker Posts Double-Digit Profit Gains Following Acquisition of Hostess Brands
The J.M. Smucker Company surpassed analysts’ projections in reporting a 15% year-over-year increase in adjusted gross profit for the quarter ended April 30, as price hikes and lower input costs helped offset a slump in sales.
CPG Week: Kefir Feuds And Soda ‘Suits
The team discusses the family power struggle at Lifeway Foods, Poppi’s class-action lawsuit, and claims of a discriminatory workplace at a General Mills plant.
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Campbell’s: Strong Sales Elevate FY Guidance Post-Sovos Acquisition
The Campbell Soup Company posted solid third-quarter earnings this morning, beating analyst expectations as net sales increased 6% driven by the Sovos Brands acquisition and integration.
Foxtrot To Make Hometown Return
In less than two months since abruptly shutting down all stores, declaring bankruptcy and auctioning off some assets of the combined parent company, Outfox Hospitality, it appears Foxtrot may soon saunter back into Chicago.
UNFI Reports Mixed Q3 Results Amid Business Transformation Efforts
Health and specialty food distributor United Natural Foods Inc. (UNFI) posted a 0.1% decrease in net sales to $7.5 billion during Q3 2024 in an earnings release this morning amid the company’s ongoing business transformation efforts. “We delivered another quarter in line with our fiscal 2024 plan and our third consecutive quarter of improving profitability… Read more »
Wicked Kitchen Joins Ahimsa Companies
Consolidation is coming to the plant-based alternative space… or at least that is the category direction U.K.-based Wicked Kitchen is banking on. The company announced today it has joined plant-based conglomerate platform Ahimsa Companies.
Costco Posts Strong Q3 Results, Confirms $1.50 Hot Dog Price ‘Safe’
The club business continues to capture consumers on price, according to Costco’s latest earnings results. The club store chain reported net income of $1.68 billion during Q3 2024.
‘We Smoke Chips’: How Low and Slow Plans to Turn the BBQ Chip Category on Its Head
Through its proprietary manufacturing process that smokes chips at scale, Low and Slow Snacks believes it has found the recipe for success in disrupting the barbecue chip category.
Sugar High: INSA’s Head Chef On the Art of Canna-Chocolate
Julian Rose sees an opportunity to elevate the chocolate edibles category through superior ingredients and quality.
Retail Strategy Firm PLTFRM Broadens Base with Eye to New Channels
As online marketing and ecommerce have radically changed the playbook for brands, CPG strategy firm PLTFRM is aiming to provide a new “operating system” for modern startups, and now it’s expanding its retail and marketing services to new channels and new industries.