Hormel Foods Again Named Category Captain by Progressive Grocer

Rhea-AI Summary

Hormel Foods Corporation (NYSE: HRL) has been recognized as a Category Captain by Progressive Grocer magazine for its outstanding performance in the grocery industry in 2022. The designation reflects Hormel's commitment to driving sales growth through innovative strategies and collaboration with retail partners. This partnership approach led to a 29% increase in sales for a Midwest grocery chain, generating an additional $1.3 million in revenue. Hormel achieved this amidst challenges like supply chain disruptions and rising inflation, showcasing its ability to leverage shopper insights for category growth.

Positive

• Recognized as a Category Captain by Progressive Grocer magazine.
• Achieved a 29% sales increase for a partnered Midwest grocery chain.
• Generated an additional $1.3 million in retail sales during a traditionally slower period.

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• None.

Innovation, teamwork and strategy helped the company lift retail store sales in 2022

AUSTIN, Minn., Dec. 19, 2022 /PRNewswire/ -- Hormel Foods Corporation, (NYSE: HRL), a Fortune 500 global branded food company, announced today that it has once again been honored as a Category Captain by Progressive Grocer magazine. This prestigious designation recognizes the company's exceptional performance in the grocery industry, and its commitment to providing solutions and insights to drive sales growth in stores in 2022.

"We are thrilled to receive this recognition for the ongoing work we are doing in strategically leading with our retail partners," said Mark Thompson, director of sales strategy, Retail sales. "Hormel Foods has a long history of receiving Progressive Grocer's Category Captain award, and this recognition further solidifies us as a team that retailers can trust to lead initiatives that help improve the retail store environment."

According to Progressive Grocer, the grocery retail landscape is still proving difficult to navigate as operators grapple with such problems as lingering supply chain snarls and higher prices due to record inflation. However, Hormel Foods made major strides in 2022 by zeroing in on shopper insights to drive decisions within categories and sharing those insights with retail partners to help grow their sales. As an example of the company's partnership approach, it helped an independent Midwest grocery chain create and implement a cross-functional, cross-category program. Hormel Foods and the retailer teamed up to grow sales by 29% on a year-over-year basis and net $1.3 million in additional retail sales during a time that is traditionally much slower.

The company's partnership approach works across many business areas, including supply chain, category vision and multi-brand promotions. New product development was also reflected in the company's insights-based, shopper-centric and collaborative approach to category growth.

To view the complete list of Category Captains and learn more about some of the company's category management initiatives, visit: https://progressivegrocer.com/what-brands-are-excelling-category-management.

ABOUT HORMEL FOODS — Inspired People. Inspired Food.™

Hormel Foods Corporation, based in Austin, Minn., is a global branded food company with over $12 billion in annual revenue across more than 80 countries worldwide. Its brands include Planters^®, SKIPPY^®, SPAM^®, Hormel^® Natural Choice^®, Applegate^®, Justin's^®, WHOLLY^®, Hormel^® Black Label^®, Columbus^®, Jennie-O^® and more than 30 other beloved brands. The company is a member of the S&P 500 Index and the S&P 500 Dividend Aristocrats, was named on the "Global 2000 World's Best Employers" list by Forbes magazine for three years, is one of Fortune magazine's most admired companies, has appeared on the "100 Best Corporate Citizens" list by 3BL Media 13 times, and has received numerous other awards and accolades for its corporate responsibility and community service efforts. The company lives by its purpose statement — Inspired People. Inspired Food.™ — to bring some of the world's most trusted and iconic brands to tables across the globe. For more information, visit www.hormelfoods.com and http://csr.hormelfoods.com/.

Contact:	Media Relations
	Hormel Foods
	507-434-6352
	media@hormel.com

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SOURCE Hormel Foods Corporation

FAQ

What does it mean for Hormel Foods to be named Category Captain by Progressive Grocer?

Being named Category Captain recognizes Hormel Foods for its exceptional performance and leadership in the grocery industry.

How much did Hormel Foods help a grocery chain increase sales?

Hormel Foods helped a Midwest grocery chain achieve a 29% increase in sales.

What were the challenges Hormel Foods faced in 2022?

Hormel Foods faced challenges such as supply chain issues and rising prices due to inflation.

What is the stock symbol for Hormel Foods?

The stock symbol for Hormel Foods is HRL.

When was Hormel Foods recognized as a Category Captain?

Hormel Foods was recognized as a Category Captain on December 19, 2022.