Food Business News - July 31, 2012 - (Page 13)

Annie’s earnings climb 18% in first quarter consumers seek healthy food options for their families. We are encouraged by the progress of our mainline initiative in grocery channels, as well as consumer reception to our new products. We are successfully executing our near-term plan, and remain confident in our longterm growth opportunities.” Mr. Foraker updated Annie’s progress with its “Frannie” frozen category initiative as part of a July 24 conference call with analysts, saying the original certified organic items launched in January have performed well. “We developed a solid following for these items and direct consumer feedback continues to be very positive,” he said. “The launch of our made with organic rising crust pizza items is progressing nicely as well. Since April, we have been presenting these items to a focused list of about 25 mainstream grocery and mass accounts as well as broadly to the natural channel. We are receiving a very positive response. “During Q2 we will begin shipping the first big retailers who have already accepted the items. They are a combination of both large national retailers and some important regional chains. As a result, we will roll into more than 2,500 highly targeted points of distribution in mainstream grocery and mass over the remainder of Q2.” FBN Rising beef prices have you going crazy? BERKELEY, CALIF. — Progress in the company’s retail channels contributed to an 18% gain in earnings at natural and organic food company Annie’s, Inc. during the first quarter. Net income in the quarter ended June 30 was $2,131,000, equal to 13c per share on the common stock, up from $1,812,000, or 12c per share, in the same period a year ago. Adjusted income in the first quarter totaled $2,144,000, up from $1,998,000. Net sales, meanwhile, rose 20% to $34,293,000 from $28,610,000. “We are pleased with our strong growth and overall financial performance in our business,” said John Foraker, chief executive officer. “Consumption trends remain strong as more Beef collagen now with a new consumer-friendly label Food and beverage C.P.I. up 0.1% in June WASHINGTON — The Consumer Price Index for food and beverages increased 0.1% in June, climbing to 233.5 from 233.3 in May, according to the Bureau of Labor Statistics of the Department of Labor. It was the third time in four months that the index has increased 0.1%. The food index rose 0.2% in June, the third time in four months that it has increased by 0.2%. Major grocery store food groups were mixed in June, with three rising and three declining. The fruits and vegetables index was the big mover, rising 1.3% to 283.7. The index was led by the fresh vegetables index, which increased 3.2% in June. The index for meats, poultry, fish, and eggs rose 0.2% after falling 0.5% in May. Meanwhile, the index for nonalcoholic beverages rose 0.1% to 167.8. The index declined 0.6% in May. In contrast, the index for cereals and bakery products declined 0.4% in June after falling 0.1% in May. The index for dairy and related products fell 0.3% in June, its fifth consecutive decline, and the index for other food at home fell 0.1%. The food at home index has increased 2.6% over the past 12 months, with all six major grocery store food groups rising from a range of 0.9% (nonalcoholic beverages) to 4.1% (other food at home). The overall Consumer Price Index, which fell 0.3% in May, was flat in June. The index now has increased 1.7% over the past 12 months. FBN • Forms a strong protein matrix improving fat and moisture retention • Improves sensory characteristics • Improves texture of products with low protein content • Improves sliceability • Allergen-free • Lowers water activity (Aw) • Increases profits • Great for emulsion and injection applications Brought to you exclusively by Wenda Ingredients Tel: 630-527-9800 July 31, 2012 FOODBUSINESS NEWS ® 13

Table of Contents for the Digital Edition of Food Business News - July 31, 2012

Food Business News - July 31, 2012
Slowing global economy pressures McDonald’s net
Big changes may be looming for Dole Food Co.
Drought effects go well beyond corn, soybean crops
Table of Contents
Web Contents
Editorial - Global food parallels oil refining
Investments help drive earnings gain at Hershey
Prepared foods market to reach $32.45 billion in 2012
PepsiCo earnings fall on restructuring costs
Private investment group to buy Peet’s Coffee for $1 billion
Sales of Fairtrade-certified products grow 12%
Annie’s earnings climb 18% in first quarter
Food and beverage C.P.I. up 0.1% in June
Nestle Health Science acquires stake in medical foods company
Starbucks breaks ground on $172 million facility
Cal-Maine to buy egg production assets
Emmi Roth expanding in Wisconsin
B&G profit rises behind Culver Specialty business
Paramount Citrus acquires Healds Valley Farms
Washington - Government takes steps to aid drought-stricken farmers and ranchers
Ingredion: More than a catchy name
Ingredient Innovations - The next step in sodium reduction
Health and Wellness - Trans fats in review
Industry Images - Images from the I.F.T.
New Food Products
Supplier Innovations and News
Ingredient Market Trends
Ingredient Markets
Ad Index
Food Business in the News

Food Business News - July 31, 2012