Milling & Baking News Corporate Profiles - 2019 - 86

COMPANY OVERVIEW

The J.M. Smucker Co.
Marketing and innovation efforts to reinvigorate company's top line
he 2018 acquisition of Ainsworth Pet Nutrition
L.L.C. was a key driver in the J.M. Smucker
Co.'s fiscal 2019 performance. The company's
other business units - U.S. Retail Coffee, U.S. Retail
Consumer Foods, and International and Away From
Home - had mixed results during the year.
The J.M. Smucker Co. posted net income of
$514.4 million, equal to $4.52 per share on the
common stock, a 62% decline compared with the
same period of the previous year when the company
earned $1,338.6 million, or $11.79 per share. The
wide difference in profitability was attributable to a
tax benefit the company received in fiscal 2018.
In October 2018, pet food and treats became
the J.M. Smucker Co.'s largest product category.This
represented a "significant shift" in Smucker's overall
portfolio composition over the past few years, said
Mark T. Smucker, chief executive officer, president
and director of the Orrville, Ohio-based company,
during an Oct. 9, 2018, investor day presentation.
"... We've reshaped our portfolio toward growth
categories and even within the categories toward the
segments that are growing the fastest within each
category," Mr. Smucker said. "The size of the categories that we are playing in today is about 25% larger
than those we were in five years ago."
Innovation was and will be key to Smucker's growth
strategy for its pet food, coffee and food businesses.

T

"Further growth in our Coffee business is expected in fiscal 2020 driven by the continued success of
Dunkin' and Café Bustelo and upcoming launches
of innovation with Dunkin' signature series, 1850
single origins and Folgers Noir, all of which meet
current consumer preferences and bring the coffee
shop quality and experience into the home," Mr.
Smucker said during a June 6 conference call with
securities analysts.
To continue the trajectory of Smucker's pet food
and coffee businesses as well as boost legacy brands
in other segments, Smucker announced in September that it is realigning its marketing programs to
engage consumers in a market featuring changing
consumer preferences, the growth of e-commerce
and a more fragmented media market.The company
is undergoing the change as one strategy to make
such legacy brands as Jif, Folgers, Smucker's and
Milk-Bone more relevant to younger consumers.
Smucker's new marketing model features three
primary components, including a commitment to

breakthrough creative, a cross-platform media
model to optimize the reach of messaging, and an
agile way of working.
"It's through this work and the collective body
of the work, that's how we're going to accelerate
our innovation, revitalize our core brands and pour
gasoline on our growth brands," said Geoff E. Tanner, senior vice-president of growth and consumer
engagement, at the Barclays Global Consumer
Staples Conference held Sept. 3 in Boston.
The new marketing strategy follows Smucker's
reorganization of its innovation model a few years
ago, which included creating new cross-functional
teams, new approaches to consumer insights and
employing an agile approach.
"Innovation is a hard game, but that said, I am very
pleased with our innovation performance and the success rates that we're seeing," Mr.Tanner said. "In fiscal
'19, we delivered over $200 million in net sales from
new products, and we saw strong incrementality."
Initiatives being undertaken to reinvigorate the
top line include optimizing peanut butter pricing
and merchandising, delivery of incremental Uncrustables sandwich volume, and the launch of the
new advertising to drive brand excitement.
Smucker opened a 430,000-square-foot facility
in Longmont, Colo., to produce Uncrustables, which
is nearing $300 million in sales. CP

Chief executive officer -
Mark T. Smucker

J.M. Smucker Co. net income

J.M. Smucker Co. net sales

(fiscal years ended in April)

(fiscal years ended in April)

J.M. Smucker share price

per share
$133

in millions

in millions

$121

$592

$1,339

$514

2017

2018

2019

86 \ November 2019

$109

$7,392

$7,357

$7,838

2017

2018

2019

$97
$85
Oct.
2018

Dec.

Milling & Baking News * Food Business News * Baking & Snack * Meat+Poultry * Pet Food Processing

Feb. April
2019

June

Aug.

Oct.

Corporate Profiles



Milling & Baking News Corporate Profiles - 2019

Table of Contents for the Digital Edition of Milling & Baking News Corporate Profiles - 2019

Milling & Baking News Corporate Profiles - 2019
CONTENTS
EDITORIAL - Plant-based foods: Chronicle of a boom foretold
INDUSTRY REVIEW: GRAIN-BASED FOODS
INDUSTRY REVIEW: PACKAGED FOODS
INDUSTRY REVIEW: BEVERAGES
INDUSTRY REVIEW: MEAT AND POULTRY
INDUSTRY REVIEW: DAIRY
INDUSTRY REVIEW: CONFECTIONERY
INDUSTRY REVIEW: FOOD SERVICE
INDUSTRY REVIEW: PET FOOD
INDUSTRY REVIEW: PLANT PROTEIN
INDUSTRY REVIEW: CANNABIS
Beyond Meat, Inc.
Grupo Bimbo S.A.B. de C.V.
Campbell Soup Co.
Coca-Cola Co.
Conagra Brands, Inc.
Danone S.A.
Dean Foods Co.
The Ferrero Group
Flowers Foods, Inc.
General Mills, Inc.
The Hershey Co.
Hostess Brands, Inc.
The J.M. Smucker Co.
Kellogg Co.
Kraft Heinz Co.
Kroger Co.
Mars, Inc.
McDonald’s Corp.
Mondelez International
Nestle S.A.
PepsiCo, Inc.
Post Holdings, Inc.
TreeHouse Foods, Inc.
Tyson Foods, Inc.
Walmart Inc.
AD INDEX
Milling & Baking News Corporate Profiles - 2019 - Milling & Baking News Corporate Profiles - 2019
Milling & Baking News Corporate Profiles - 2019 - 2
Milling & Baking News Corporate Profiles - 2019 - 3
Milling & Baking News Corporate Profiles - 2019 - 4
Milling & Baking News Corporate Profiles - 2019 - 5
Milling & Baking News Corporate Profiles - 2019 - CONTENTS
Milling & Baking News Corporate Profiles - 2019 - 7
Milling & Baking News Corporate Profiles - 2019 - EDITORIAL - Plant-based foods: Chronicle of a boom foretold
Milling & Baking News Corporate Profiles - 2019 - 9
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: GRAIN-BASED FOODS
Milling & Baking News Corporate Profiles - 2019 - 11
Milling & Baking News Corporate Profiles - 2019 - 12
Milling & Baking News Corporate Profiles - 2019 - 13
Milling & Baking News Corporate Profiles - 2019 - 14
Milling & Baking News Corporate Profiles - 2019 - 15
Milling & Baking News Corporate Profiles - 2019 - 16
Milling & Baking News Corporate Profiles - 2019 - 17
Milling & Baking News Corporate Profiles - 2019 - 18
Milling & Baking News Corporate Profiles - 2019 - 19
Milling & Baking News Corporate Profiles - 2019 - 20
Milling & Baking News Corporate Profiles - 2019 - 21
Milling & Baking News Corporate Profiles - 2019 - 22
Milling & Baking News Corporate Profiles - 2019 - 23
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: PACKAGED FOODS
Milling & Baking News Corporate Profiles - 2019 - 25
Milling & Baking News Corporate Profiles - 2019 - 26
Milling & Baking News Corporate Profiles - 2019 - 27
Milling & Baking News Corporate Profiles - 2019 - 28
Milling & Baking News Corporate Profiles - 2019 - 29
Milling & Baking News Corporate Profiles - 2019 - 30
Milling & Baking News Corporate Profiles - 2019 - 31
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: BEVERAGES
Milling & Baking News Corporate Profiles - 2019 - 33
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: MEAT AND POULTRY
Milling & Baking News Corporate Profiles - 2019 - 35
Milling & Baking News Corporate Profiles - 2019 - 36
Milling & Baking News Corporate Profiles - 2019 - 37
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: DAIRY
Milling & Baking News Corporate Profiles - 2019 - 39
Milling & Baking News Corporate Profiles - 2019 - 40
Milling & Baking News Corporate Profiles - 2019 - 41
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: CONFECTIONERY
Milling & Baking News Corporate Profiles - 2019 - 43
Milling & Baking News Corporate Profiles - 2019 - 44
Milling & Baking News Corporate Profiles - 2019 - 45
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: FOOD SERVICE
Milling & Baking News Corporate Profiles - 2019 - 47
Milling & Baking News Corporate Profiles - 2019 - 48
Milling & Baking News Corporate Profiles - 2019 - 49
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: PET FOOD
Milling & Baking News Corporate Profiles - 2019 - 51
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: PLANT PROTEIN
Milling & Baking News Corporate Profiles - 2019 - 53
Milling & Baking News Corporate Profiles - 2019 - 54
Milling & Baking News Corporate Profiles - 2019 - 55
Milling & Baking News Corporate Profiles - 2019 - INDUSTRY REVIEW: CANNABIS
Milling & Baking News Corporate Profiles - 2019 - 57
Milling & Baking News Corporate Profiles - 2019 - Beyond Meat, Inc.
Milling & Baking News Corporate Profiles - 2019 - 59
Milling & Baking News Corporate Profiles - 2019 - Grupo Bimbo S.A.B. de C.V.
Milling & Baking News Corporate Profiles - 2019 - 61
Milling & Baking News Corporate Profiles - 2019 - 62
Milling & Baking News Corporate Profiles - 2019 - 63
Milling & Baking News Corporate Profiles - 2019 - Campbell Soup Co.
Milling & Baking News Corporate Profiles - 2019 - 65
Milling & Baking News Corporate Profiles - 2019 - Coca-Cola Co.
Milling & Baking News Corporate Profiles - 2019 - 67
Milling & Baking News Corporate Profiles - 2019 - Conagra Brands, Inc.
Milling & Baking News Corporate Profiles - 2019 - 69
Milling & Baking News Corporate Profiles - 2019 - Danone S.A.
Milling & Baking News Corporate Profiles - 2019 - Dean Foods Co.
Milling & Baking News Corporate Profiles - 2019 - The Ferrero Group
Milling & Baking News Corporate Profiles - 2019 - 73
Milling & Baking News Corporate Profiles - 2019 - Flowers Foods, Inc.
Milling & Baking News Corporate Profiles - 2019 - 75
Milling & Baking News Corporate Profiles - 2019 - 76
Milling & Baking News Corporate Profiles - 2019 - 77
Milling & Baking News Corporate Profiles - 2019 - General Mills, Inc.
Milling & Baking News Corporate Profiles - 2019 - 79
Milling & Baking News Corporate Profiles - 2019 - 80
Milling & Baking News Corporate Profiles - 2019 - 81
Milling & Baking News Corporate Profiles - 2019 - The Hershey Co.
Milling & Baking News Corporate Profiles - 2019 - 83
Milling & Baking News Corporate Profiles - 2019 - Hostess Brands, Inc.
Milling & Baking News Corporate Profiles - 2019 - 85
Milling & Baking News Corporate Profiles - 2019 - The J.M. Smucker Co.
Milling & Baking News Corporate Profiles - 2019 - 87
Milling & Baking News Corporate Profiles - 2019 - Kellogg Co.
Milling & Baking News Corporate Profiles - 2019 - 89
Milling & Baking News Corporate Profiles - 2019 - 90
Milling & Baking News Corporate Profiles - 2019 - 91
Milling & Baking News Corporate Profiles - 2019 - Kraft Heinz Co.
Milling & Baking News Corporate Profiles - 2019 - 93
Milling & Baking News Corporate Profiles - 2019 - Kroger Co.
Milling & Baking News Corporate Profiles - 2019 - 95
Milling & Baking News Corporate Profiles - 2019 - Mars, Inc.
Milling & Baking News Corporate Profiles - 2019 - 97
Milling & Baking News Corporate Profiles - 2019 - McDonald’s Corp.
Milling & Baking News Corporate Profiles - 2019 - 99
Milling & Baking News Corporate Profiles - 2019 - Mondelez International
Milling & Baking News Corporate Profiles - 2019 - 101
Milling & Baking News Corporate Profiles - 2019 - Nestle S.A.
Milling & Baking News Corporate Profiles - 2019 - 103
Milling & Baking News Corporate Profiles - 2019 - PepsiCo, Inc.
Milling & Baking News Corporate Profiles - 2019 - 105
Milling & Baking News Corporate Profiles - 2019 - Post Holdings, Inc.
Milling & Baking News Corporate Profiles - 2019 - 107
Milling & Baking News Corporate Profiles - 2019 - TreeHouse Foods, Inc.
Milling & Baking News Corporate Profiles - 2019 - 109
Milling & Baking News Corporate Profiles - 2019 - Tyson Foods, Inc.
Milling & Baking News Corporate Profiles - 2019 - 111
Milling & Baking News Corporate Profiles - 2019 - Walmart Inc.
Milling & Baking News Corporate Profiles - 2019 - 113
Milling & Baking News Corporate Profiles - 2019 - AD INDEX
Milling & Baking News Corporate Profiles - 2019 - 115
Milling & Baking News Corporate Profiles - 2019 - 116
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