Consumers grappling with skyrocketing grocery prices due to fast-rising inflation may take cold comfort knowing that the increases are not as dramatic as other sectors or as high as in past economically difficult periods in part because of industry’s...
Tyson Foods’ strong double-digit sales and profit in the first-quarter reported yesterday could intensify the Biden Administration’s scrutiny and criticism of what he calls the meat-packing industry’s anti-competitiveness.
Hain Celestial is singing the same tune as many other CPG companies reporting quarterly earnings in the past month, and that is the back half of the year will be better than the first thanks to pricing increases to alleviate higher costs, increased inventory...
Counter to claims (or hopes) by The White House and others that rising US prices are “transitory,” inflation continues to rise – cresting 7% for all items in December year-over-year, marking the fastest increase since 1982 and the third straight month...
Conagra Brands will raise prices across its portfolio and leverage other cost savings measures to offset higher than expected inflation, which squeezed its margins in the second quarter and which CEO Sean Connolly does not expect will ease any time soon...
The supply chain bottlenecks, labor shortages and rising inflation that have plagued the economy during the pandemic may last longer than previously expected with some businesses facing “deteriorating” conditions due to omicron and other coronavirus variants,...
Ahead of a meeting with farmers, ranchers and independent meat and poultry processors today, the Biden administration this morning directed $1bn in American Rescue Plan funds to independent processors as part of a broader effort to break up what it calls...
Consumers will stop buying a product when its original price has risen by an average of 40%, according to a new survey commissioned by specialist PR agency Ingredient Communications and conducted by SurveyGoo.
Campbell Soup Co. is banking on another round of price-increases next month, persistent consumer demand and a recently bolstered workforce to help it overcome lower than expected sales in the first quarter and a ‘tough’ upcoming second quarter to ultimately...
Short of a Christmas miracle, ongoing port delays and other supply chain disruptions alongside rising inflation and labor challenges will continue long into the New Year – not only threatening holiday sales and deliveries in the short term, but also consumer...
The risks JM Smucker took as one of the first CPG companies to announce sweeping price increases in the face of inflation earlier this year are paying off as the company’s sales grew high single digits with “every business outperforming our expectations”...
Walmart is gaining market share in grocery in the US by not only holding prices steady as many competitors raise them in the face of increasing inflation, but also by continuing to look for rollbacks – a counterintuitive strategy it says will benefit...
Tyson Foods is celebrating a better-than-expected fourth quarter thanks in part to “aggressive” pricing actions that buoyed sales and offset inflation, and a “bold” new productivity plan that seeks to bring the company’s operating income margin up to...
Hain Celestial will raise prices a second time to offset higher than expected inflation and costs associated with supply chain and transportation challenges after successfully hiking prices in September roughly 6% to 10% across virtually every brand in...
Despite recent warnings that key holiday foods may be out-of-stock or more expensive than previous years due to ongoing supply chain challenges, consumer concern about obtaining food and the impact of inflation hasn’t changed much compared to August,...
A new report from Kite Consulting highlights the pressing need for consumer price increases in dairy in the UK. The era of cheap food is over, it suggests.
While Kraft Heinz continues to raise prices to offset higher costs, it does not expect consumers to shoulder the full brunt of worsening inflation – rather it is leveraging its scale to mitigate increases while simultaneously elevating product value through...
Unilever joins the parade of CPG manufacturers hiking prices “significantly” to offset rising commodity costs and other inputs, with CEO Alan Jope warning, “there is more pricing still to come.”
Nestle boosted its full year sales guidance this week after raising prices once again to account for climbing costs, but leadership cautioned those increases may not be enough to fully counter worsening inflation – suggesting more hikes likely are necessary...
Albertsons’ “surgical approach” to pricing to offset rising inflation coupled with its ability to quickly offer alternatives to out-of-stocks due to ongoing supply chain and labor challenges helped it deliver better-than-expected margins in its second...
Like many other CPG companies, Conagra Brands is continuing to take pricing actions across its portfolio spanning snacks, frozen food, and baking products. But the company says these actions have had limited impact on consumer purchasing behavior so far....
While inflation in August was still more than double the Federal Reserve’s 2% long-term target, its growth rate slowed for the first time in eight months – sparking optimism in some policy makers that the economy is healing.
Ongoing labor challenges are a double-edged sword for Hormel Foods Corporation, which struggled to fully meet consumer demand in its third quarter due to staffing shortages, but which also saw its food service business rebound significantly thanks to...
Feeling good about where Campbell Soup Co landed in fiscal 2021 “amidst the difficult environment,” company executives anticipate fiscal 2022 “will be a complicated transitional year” as inflation, labor shortages and other supply chain challenges persist....
Kellogg is bracing for at least another six to nine months of volatility as it continues to grapple with supply chain constraints, inflation and labor shortages, but it also is optimistic about upcoming innovations and opportunities embedded in new consumer...
Even as economies reopen and consumer mobility increases, demand for CPGs and food consumed at home remains elevated over pre-pandemic levels in many categories, and in some cases exceeds the high demand of the early pantry-stocking days, according to...
Despite beating first-quarter profit and sales forecasts, JM Smucker cut its full-year earnings outlook in the face of what CEO and president Mark Smucker described as “significant supply chain volatility, disruption and cost inflation” beyond that which...
Closing out a challenging fiscal year plagued by labor shortages, supply chain constraints, and higher-than-expected inflation, Hain Celestial executives are “very bullish on our future” after convincing retailers to accept price increases, implementing...
Food prices across categories are predicted to rise low- to mid-single digits this year and again next year – adding on to already higher prices in 2020 fueled in part by the pandemic and raising questions about how consumers will react in the long term,...
The cost of containerized freight has reached an all-time high, says a new report from Mintec, which says its global shipping composite index (based on 11 east-west trade routes) reached a monthly average of $8,796 per 40-foot container in June, up +24%...
Albertsons is willing to entertain a second round of price increases “where warranted and legitimate” as several CPG brands continue to struggle with mounting inflationary pressures that have exceeded their expectations and outstripped any cushion introduced...
As many food and beverage companies face the pressure of increased costs to manufacture and transport their products, consumers have also reported feeling the impact inflation is having on their grocery bills.
As grocery buying settles into a new, less-frenzied norm, many major food companies including Conagra Brands are dealing with the rising costs of doing business in an inflationary environment by raising the prices of their finished products.
Facing higher than previously expected inflation, flavor and spice giant McCormick & Company anticipates raising prices in late 2021 even as it pursues other cost savings and revenue management – a refrain that has been on repeat this year by most...
While most consumers are cautiously optimistic that life will return to ‘normal’ this year after the coronavirus outbreak uprooted most aspects of everyday life last year, many remain concerned about the long-term economic impact of the pandemic and are...
Campbell Soup Co. executives were braced for a tough third quarter as vaccinated consumers began eating at home less just as the company cycled past the peak pantry stocking phase of the pandemic from a year ago, but even they appeared surprised by how...
As inflation threatens to crest double digits for CPGs by the end of the year, consumer price sensitivity also is increasing while volume consumption is decreasing – creating an “uncertain, idiosyncratic and uneven” market in which manufacturers must...
The long-awaited end of the pandemic may be nearing in the US as vaccine distribution expands and new government guidance rolls back some mask and social distancing requirements, but for the CPG industry, some of the challenges that arose and accelerated...
Faster than expected inflation increases, weather-related supply disruptions and labor challenges held back Post Holdings production and exacerbated an already difficult quarter for comparisons resulting in tighter margins during the company’s second...
As inflation continues to pick up across grocery categories, Sprouts Farmers Market is offsetting most of the impact by confidently passing cost to consumers through its selection of unique, attribute-led, hard-to-find products that appeal to those seeking...
Kraft Heinz executives are confident they can manage anticipated inflation in the mid-single digit range across the portfolio this year by leveraging new product innovation and renovation, a quality over quantity approach to marketing and promotions,...
Recognizing that risings costs are squeezing food and beverage margins as the pandemic continues, Albertsons will accept – to an extent – price increases that several large CPG players have warned in recent weeks are coming down the pike.
Despite strong organic sales growth and market share gains in the first quarter, Nestlé’s CEO warned market analysts yesterday against “excessive margin growth expectations,” and cautioned the company could raise prices later this year or early next to...
While the Coca-Cola Co. is protected against rising commodity costs for now, it could raise prices next year or late this year as part of a multi-prong approach to manage inflation of key ingredients and packaging materials, according to executives.
US retail sales of leading packaged food brands tracked by Bernstein* rose +12.1% year-on-year in measured channels in the four weeks ending August 8, with big brands reaping continued benefits from the shift to eating at home, though sales growth slowed...
While the price of gas, clothing, and many other consumer goods has fallen during the pandemic, grocery prices are on the rise, with the food-at-home index showing the largest monthly increase since February 1974, despite continued declines in world food...
With inflation rates shrinking (but still high), economic conditions in Argentina are improving. And with the government taking on export taxes and import restrictions, the future is looking rosier for the country.
The Consumer Price Index (CPI) for food-at-home — a proxy for grocery-level inflation — was flat in January, after months of declines, with higher prices in eggs, dairy, meat, fish & poultry offset by lower prices for fruits & vegetables, non-alcoholic...
Thought food deflation was finally easing? Apparently not, according to the latest figures from the Bureau of Labor Statistics, which reveal that while protein deflation eased off very slightly, the Consumer Price Index (CPI) for food-at-home — a proxy...
“While you can look at one specific cost and you can say it's gone down, I could give you a story for another raw material where it's gone up”, observed Unilever’s chief financial officer Jean-Marc Huet when asked about commodity prices during...
