Milling & Baking News - August 25, 2009 - 1

THE NEWS WEEKLY OF GRAIN-BASED FOODS
AUGUST 25, 2009

bakingbusiness.com / foodbusinessnews.net

Signature Interview 

NEWS

Simple solutions to 'Mission Impossible'
K. Dun Gifford embraces straightforward approach to change eating behaviors

W
Sustainability surveys
Story on Page 26

LATE NEWS

Folgers integration
boosts Smucker net
ORRVILLE, OHIO - The integration of the Folgers coffee business
continued to drive a profit surge
at the J.M. Smucker Co., as earnings in the first quarter ended July
31 climbed to $98,063,000, equal
to 83c per share on the common
stock, up from $42,291,000, or 77c
per share, in the same period a year
ago. Sales for the quarter increased
58% to $1,051,526,000. Segment
profit and sales in the U.S. retail
consumer unit rose 6% and 12%, respectively, in the first quarter. Sales
were driven by a 7% volume gain
led by Jif peanut butter, Smucker's
fruit spreads, and Hungry Jack
Continued on Page 8

hen it comes to rising rates
of obesity and associated
health problems, there is
no shortage of diagnosticians. Large
numbers of educators, politicians, scientists and others
are quick to cite terrifying
data about the number of
Americans who are overweight and the consequences
of overeating. Against this
backdrop, K. Dun Gifford
is an anomaly. For the past Gifford
20 years, the president and
founder of Boston-based Oldways
has pursued simple solutions to
America's thorny eating challenges.
Measured by one indicator, the
proliferation of the Whole Grain
Stamp, the most visible outgrowth
of his efforts, Mr. Gifford is making a difference. Less than five years
after its introduction, the stamp

now appears on more than 2,600
products with billions of dollars
of sales. The stamp is emblematic
of the Oldways approach seeking
positive
eating
changes
with positive messages.
Still, Mr. Gifford's mission
easily could be viewed as
toward its beginning - the
race for a tortoise and not a
hare. Certainly, many signs
suggest the rising rates of
obesity have not reversed.
From Mr. Gifford's perspective, changing eating behaviors is a
difficult task, and one that requires
patience and perseverance. Twenty
years is a mere blip in the timeline
of American dietary patterns, and
Mr. Gifford's initiatives all seek to
increase awareness. Toward that
end, the Mediterranean Foods
Continued on Page 20

Boosted by gain, Flowers earnings
up 27%; sales forecast trimmed
THOMASVILLE, GA. - Success of
strategic acquisitions combined with
improved efficiencies helped drive a
sharp earnings gain at Flowers Foods,
Inc. in the second quarter ended July
18. Reflecting weakness in the food service sector as well as the vending cake
business, the company lowered its sales
growth guidance for 2009 but held its
earnings forecast steady.
Net income in the second quarter was

$30,341,000, equal to 33c per share on the
common stock, up from $23,949,000, or
26c per share, in the same period a year
ago. The most recent quarter included
a $3,013,000 gain on acquisition related
to the Cedar Rapids, Iowa, bread mix
plant acquired from General Mills, Inc.
in May.
Net sales were $614,448,000, up 14%
from $540,656,000 in the second quarter
of fiscal 2008. The jump in sales was attributed to a 10.6 percentage point gain
from acquisitions and a 4.7 point boost
from favorable pricing/mix, partially
offset by a 1.7 point decline in volume.
Flowers said the strong sales reflected
strength in its branded retail business,
which grew 10.7% in the quarter.
"Our team continues to deliver good
Continued on Page 27
http://www.bakingbusiness.com http://www.foodbusinessnews.net
Milling & Baking News - August 25, 2009

Table of Contents for the Digital Edition of Milling & Baking News - August 25, 2009
