Increased investment in marketing and advertising will drive sales in the back half of the year, said the company’s CEO who sees the company as being on track to being ‘a premium, differentiated leader in snack foods’.
Kraft Foods Group expects to post weaker-than-expected fourth-quarter revenues, in part because it lost market share to rivals as competitors engaged in aggressive discounting on cold cuts and mac & cheese, said CEO Tony Vernon.
Increased spending on marketing, advertising and promotions (MAP) is paying off for Jimmy Dean sausage maker Hillshire Brands, which has raised its outlook for the full year on the back of strong second quarter results.
Offloading Skippy peanut butter - which still generates the majority of its $370m annual sales in the mature US market - will continue to skew Unilever’s portfolio towards faster-growing emerging markets, says one industry analyst.
Innovative new products commanding higher margins, increased marketing investment and better cost controls will help Sara Lee “unleash the potential” of Hillshire Brands Company, the new name for its North American food business, claims the firm.
Corn Products International’s net income fell 38% in the first quarter largely due to a one-off gain a year earlier, and less growth than expected in international markets, while adjusted net profit was down 2%.