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General Mills bets on cereal, ice cream, snack bars & Mexican food as it deploys 4-prong growth strategy By Elizabeth Crawford At the Consumer Analyst Group of New York 2021 conference yesterday, General Mills unveiled a four-prong strategy to “accelerate” its net organic sales growth 2-3%, expand mid-single-digit margins and deliver mid- to high-single-digit constant currency growth “over the long term” despite an industry-wide slowdown in consumer spending on food at home compared to the start of the pandemic.
“Before the pandemic, we aligned on a new strategic framework to drive the next chapter of growth for General Mills. This plan, which we call Accelerate, sets clear priorities for where we play, how we win and how we’ll drive superior returns for our shareholders over the long term,” CEO Jeff Harmening said.
The future of ‘clean label’? Radically transparent and naturally healthy ‘Clean label’ is an industry term that speaks to consumer demand for recognisable ‘pantry cupboard’ ingredients. But, without a clear definition, the meaning of clean label is evolving. What other mega-trends will shape the future of clean label innovation?
Producing ‘clean label’ products has been a bellwether of food industry innovation for years. And while clean label may lack a clear definition, the consensus is it has a distinct meaning for consumers: ingredients they recognise back of pack.
But food innovators are working on shifting sands. Fickle public opinion is shaped by events and meeting elevated consumer expectations remains a moving target. The meaning of ‘clean label’ is a work in progress.
Scientists have discovered that a plant native to America could be grown in the UK and Europe, bringing huge potential benefits for ‘a balanced, sustainable diet’.
Soup-To-Nuts Podcast: Carbon labeling, promises to be carbon neutral, positive emerge as top trend Whether or not you believe in climate change or the food industry’s contribution to the greenhouse gasses wrapping the earth and changing weather patterns, plenty of consumers do, and they increasingly are buying products based on their environmental impact – elevating sustainability and carbon labeling from political talking points to business priorities.
Currently only a handful of companies disclose on packaging the total amount of carbon produced during the manufacturing, distribution, use and disposal of food products, but many more see the writing on the wall and are developing rating and labeling programs to inform consumers about their products’ environmental impact.
Kellogg misses sales mark as it battles supply constraints for Frosted Flakes, MorningStar Farms Kellogg Co missed analysts sales forecast for its fourth quarter of 2020, during which it faced pandemic-related headwinds, including unexpected supply constraints of multiple marque brands and the continued slowdown of at-home purchases as some local economies reopen.
Analysts expecting sales of $3.51b during Kellogg’s fourth quarter earnings released yesterday were disappointed by the company’s net sales for the period peaking at $3.46b. While company executives touted this as a 2.5% increase in organic net sales from Q4 last year, analysts lamented it was below street estimates of 3.2%.