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Hormel Foods Corporation (NYSE: HRL), headquartered in Austin, Minnesota, is a globally recognized Fortune 500 company, noted for its extensive portfolio of consumer-branded food and meat products. Renowned for quality, taste, and nutrition, Hormel Foods has built a strong reputation among consumers, retail grocers, foodservice, and industrial customers. The company’s diverse product range includes hams, bacon, sausages, franks, canned luncheon meats, stews, chilis, hash, meat spreads, shelf-stable microwaveable entrees, and salsas.
Historically meat-focused, Hormel Foods has broadened its offerings to include various protein sources, becoming a comprehensive branded food company. Its major brands like Hormel, Spam, Jennie-O, Columbus, Applegate, Planters, and Skippy hold dominant market positions in their respective categories. In fiscal 2023, U.S. retail accounted for 64% of sales, U.S. food service for 30%, and international sales for 6%, with 70% of sales from perishable food and 30% from shelf-stable products.
Recently, Hormel Foods has demonstrated strong performance across its business segments, particularly in the first quarter of fiscal 2024. The company’s strategic initiatives in transformation and modernization have shown promising results. Highlights include broad-based volume growth, robust demand for foodservice products, and significant progress in their Planters® snack nuts business. CEO Jim Snee emphasized the team's focused execution of strategic priorities and improvements in the supply chain, which have positively impacted the company’s growth trajectory and shareholder returns.
The company's ongoing projects include the redesign of the HORMEL® NATURAL CHOICE® product packaging, reducing packaging material by 337,000 pounds annually, and introducing HORMEL® Ribbon Pepperoni, aimed at improving pizza preparation efficiency for foodservice operators. Additionally, Hormel Foods continues to support young innovators through its 10 Under 20 Food Heroes program, recognizing and mentoring youth driving positive change in the food system.
Hormel Foods Corporation reported strong financial results for the second quarter of fiscal 2024, with continued growth in the Foodservice and International segments, improvements in the supply chain, and stable volumes across its business. The company remains focused on strategic initiatives to drive long-term growth and shareholder returns, reaffirming its commitment to excellence in quality, sustainability, and community impact.
For more information, visit www.hormelfoods.com.
Hormel Foods Corporation (NYSE: HRL) announced it will release recast historical financial data on Feb. 28, 2023 as part of its new operating model, GoFWD. The company will also host a webcast at 4 p.m. CT to discuss the new financial reporting structure. Furthermore, Hormel will issue its first-quarter earnings release on Mar. 2, 2023, followed by a conference call at 8:30 a.m. CT. The company reports over $12 billion in annual revenue, offering a range of well-known brands across more than 80 countries.
Hormel Foods Corporation (NYSE: HRL), a leading global food company, has elevated Henry Hsia to vice president of Retail marketing for Snacking and entertaining as of February 3, 2023. Hsia will oversee brand-building for notable brands including Planters®, Corn Nuts®, and Hormel Gatherings®. Having joined Hormel in October 2018 after the Columbus Craft Meats acquisition, Hsia has successfully led marketing and R&D for the Columbus® brand. Jim Snee, CEO of Hormel Foods, expressed confidence in Hsia's leadership skills to drive growth in this important segment, which aligns with Hormel's vision of delivering trusted food brands worldwide.
The makers of HORMEL® chili have introduced the first-ever HORMEL® Chili Cheese Brew, a unique beer inspired by the popular chili cheese dip. This collaboration with Modist Brewing Co. aims to enhance gameday snacks with a flavorful sip. Available starting January 24, 2023, the beer comes in four-packs priced at $24, including shipping, and is designed for fans to enjoy during the Big Game on February 12. The lager features Minnesota Pilsner barley malt and flaked corn, complemented by savory spices and cheddar cheese powder for a distinctive taste. For more information, visit www.HormelChiliCheeseBrew.com.
Hormel Foods Corporation, based in Austin, Minnesota, has launched a limited-edition merchandise collection in collaboration with Nom Life, featuring five apparel and accessory items. Available on SPAM.com, the collection includes items such as the $55 SPAM® Brand Concert Crewneck and $20 SPAM® Varieties Everyday Concert Tote. Notably, all proceeds will be donated to Convoy of Hope, aimed at aiding communities in need. This initiative aligns with Hormel's branding strategy, enhancing customer engagement while contributing to social causes. The merchandise reflects comfort and nostalgia tied to the SPAM® brand.
Hormel Foods Corporation (NYSE: HRL) announced its 2023 Annual Meeting of Stockholders will be held virtually on January 31, 2023, at 6 p.m. CST. Registered stockholders can access the meeting via this link. Participants must use a 16-digit control number to vote electronically. A question-and-answer session will follow the meeting, with questions submitted in advance through proxyvote.com. Gift boxes will be available for registered stockholders starting February 1, 2023, at the SPAM Museum.
Hormel Foods, based in Austin, Minnesota, is inviting recent college graduates to apply for a unique job opportunity as Peanutters, driving the iconic NUTmobile across the United States. This full-time, paid position runs from June 2023 to June 2024 and includes representing the PLANTERS brand at events and media appearances. Applicants must have a degree in communications, marketing, or a related field, and submissions are due by February 14, 2023. Hormel, known for its $12 billion annual revenue and diverse food brands, aims to continue the tradition of engaging with communities through this initiative.
Hormel Foods recently donated $25,000 across 10 local nonprofits in Austin, Minnesota, to support their organizational needs. This initiative highlights the company's commitment to community engagement. CEO Jim Snee emphasized the importance of recognizing the hard work of nonprofit staff, who often overlook their own funding challenges. The selected organizations included Mower County Health and Human Services, United Way Success Closet, and others, each receiving a $2,500 check. This gesture reinforces Hormel Foods' dedication to social responsibility and community support.
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.
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