[ad_1]
The strength of company’s brands, foodservice recovery and international business among focus areas
AUSTIN, Minn., June 24, 2022 /PRNewswire/ — Fortune 500 global branded food company Hormel Foods (NYSE:HRL) recently presented at the 2022 Deutsche Bank dbAccess Global Consumer Conference held in Paris from June 14-16. Jim Sneechairman of the board, president and chief executive officer at Hormel Foods, and Swen Neufeldtgroup vice president and president of Hormel Foods International, gave the global investment audience insight into the strategic playbook of the 131-year-old company.
The senior leaders discussed the company’s strategic priorities and what makes Hormel Foods an uncommon company, including the continued strength of its iconic brands and its global presence. The presentation was hosted by Steve Powersan equity research analyst who covers US household, personal care, food and beverage companies for Deutsche Bank Securities.
Powers began the discussion by highlighting the company’s second-quarter earnings, which had “strong top-strong bottom-line growth.” Snee cited very strong consumer demand and significant improvement in the supply chain as key elements of the company’s second-quarter results, as well as confidence in the remainder of fiscal 2022. He also summarized the company’s six key strategic priorities.
“We’ve had very clear strategic priorities for our team members, but also for the investments that we’re making in the business,” Snee spoke to the company’s ability to continue to expand and accelerate its foodservice business, protect and grow its brands , enhance its presence in entertaining and snacking, continue to transform the company as it capitalizes on global flavors and becomes a larger player on the global stage. Snee said these moves will enhance the company’s strength as a global branded food company.
The conversation included discussion of the growing and on-trend snacking-and-entertainment sector, which is an area of increasing focus for Hormel Foods. The company recently celebrated the one-year anniversary of the closing of the $3 billion Planters® snack nuts business acquisition, the largest in Hormel Foods history. While the Planters® The brand is integral to the company’s snacking-and-entertaining portfolio, it is far from the only one, Snee said. Leading Hormel Foods brands such as Herdez®WHOLLY® Guacamole, Columbus® and Hormel® Gatherings® party trays have given the company a strong foothold in the large and growing snacking-and-entertainment arena.
Snee and Neufeldt also outlined how the company is handling its strategic investments and results in an inflationary environment that many experts are predicting could lead to a recession. The financial stability of Hormel Foods, the nature of its product lines and more than a century of experience managing…
Full story available on Benzinga.com
[ad_2]
Source link
