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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.
Jennie-O®, a renowned turkey brand, has released its 2024 Thanksgiving survey results, offering state-by-state insights into American holiday traditions. The survey, conducted by Talker Research, polled 5,000 consumers across the U.S. Key findings include:
- 70% of Americans have celebrated their Thanksgiving traditions for over 20 years
- Most people take up to two weeks for planning and three days for food preparation
- 66% prefer baked turkey, with 63% opting not to brine
- Popular sides include stuffing (77%), rolls/biscuits (66%), and mashed potatoes (60%)
- 96% enjoy leftovers, with 44% using turkey in sandwiches
Jennie-O® offers support through their 1-800-TURKEYS hotline, live chat, and text services from Nov. 1-28. The brand provides online resources for meal planning, turkey preparation, and leftover recipes to ensure a successful Thanksgiving celebration.
WHOLLY® GUACAMOLE, America's top refrigerated guacamole brand, released a survey on National Guacamole Day revealing key insights into football fans' game day rituals. The survey, conducted by Toluna, found that 50% of football fans consider guacamole or dips their go-to game day snack.
Key findings include:
- 31% eat the same food as a game-day ritual
- 40% are more likely to watch a game with friends if they like the snacks
- 67% stress-eat salty items like chips and guacamole during intense plays
- 60% prefer store-bought snacks over homemade
- 58% prioritize taste when selecting game day food
WHOLLY® GUACAMOLE offers convenient, preservative-free options for both individual fans and large gatherings, available at major retailers nationwide.
MegaMex Foods has expanded its WHOLLY® Guacamole portfolio for foodservice operators with three new flavors: Jalapeño Garlic, Serrano Lime, and Cilantro Lime. These join the existing Classic and Southwest varieties, bringing the total to five pre-made guacamole options. The expansion responds to a Technomic study showing that 50% of operators value simplicity in using pre-made guacamole.
All WHOLLY® Guacamole products are made with 100% real Hass avocados, contain no artificial colors or flavors, and are fresh and ready to serve. The new flavors come in a 12/1 lb. case pack. This product line extension aims to provide foodservice operators with more versatile options for appetizers, toppers, and ingredients in various dishes.
The makers of SPAM® have launched a new -edition SPAM® Gochujang flavored variety, inspired by the popular Korean condiment. This new flavor combines spicy, sweet, smoky, and umami tastes, making it versatile for various dishes. The product is exclusively available in an eight-pack at Costco Wholesale Warehouses, while supplies last.
Gochujang, a fermented spicy red chili paste, is a staple in Korean cuisine. The new flavor aims to celebrate the love Korean-Americans have for the SPAM® brand. Jennesa Kinscher, senior brand manager for SPAM®, states that this new variety offers approachable heat while maintaining the versatility and convenience associated with SPAM® products.
In celebration of National Peanut Day on Sept. 13, the makers of PLANTERS® brand are launching PLANTERS® Special Reserve peanuts. These -edition peanuts, hand-cooked and seasoned, are cultivated on 150 acres in Virginia, making them larger and more flavorful than standard peanuts. Packaged in a collector's edition box, they are available exclusively at mrpeanutspecialreserve.com for $19.06 starting 9 a.m. (EDT) on Sept. 13. A quantity will also be available at Walmart.com and Amazon.com for $9.98. These premium peanuts offer a balanced flavor profile of salt, crunch, and creaminess, honoring the legacy of MR. PEANUT®. For more information, visit Planters.com.
HORMEL® Pepperoni, America's No. 1 pepperoni brand, is launching a campaign for National Pepperoni Pizza Day on September 20, 2024. Starting September 4, fans can visit www.PepperoniTimeOff.com to declare their intention to take 'Pepperoni Time Off' (PTO) and enter for a chance to win the Ultimate HORMEL® Pepperoni Pizza Vacation to New York City or Chicago during National Pizza Month in October.
The campaign encourages fans to fully enjoy HORMEL® Pepperoni pizza without interruptions. Participants can share their PTO news on social media using #PepperoniTimeOff for more chances to win. HORMEL® Pepperoni offers various shapes, sizes, and flavors, including original, Cup N' Crisp, and Confetti, to cater to different pepperoni cravings and occasions.
Hormel Foods (NYSE: HRL) reported third quarter fiscal 2024 results, with net sales of $2.90 billion and diluted net earnings per share of $0.32. The company delivered better-than-expected earnings and saw growing benefits from its transform and modernize initiative. Key highlights include:
- Volume of 1.02 billion lbs
- Operating income of $237 million; adjusted operating income of $267 million
- Cash flow from operations of $218 million
Hormel updated its fiscal year 2024 outlook, narrowing the expected diluted net earnings per share range to $1.45 to $1.51 and adjusting the net sales range to $11.8 billion to $12.1 billion. The company continues to focus on executing strategic priorities across its Retail, Foodservice, and International segments.
The makers of HORMEL® BLACK LABEL® Bacon are launching the category's first-ever co-branded bacon in partnership with CINNAMON TOAST CRUNCH™ cereal. This -edition product features thick-cut bacon hand-rubbed with CINNADUST™ seasoning blend, offering a unique sweet and savory flavor combination. BLACK LABEL® CINNAMON TOAST CRUNCH™ Bacon will be available starting September 16 at select Walmart locations, followed by select Kroger stores.
This collaboration brings together two brands with passionate fanbases, aiming to deliver a craveable product suitable for various eating occasions. The makers of HORMEL® BLACK LABEL® Bacon plan to continue introducing unexpected partnerships and -time products in 2025 and beyond.
Hormel Foods (NYSE: HRL), a Fortune 500 global branded food company, has announced its participation in the 2024 Barclays Global Consumer Staples Conference. The event will feature Jim Snee, president, CEO, and chairman of the Board, along with Jacinth Smiley, executive vice president and CFO.
The conference is scheduled for Thursday, September 5, 2024, with a fireside chat webcast beginning at 8:45 a.m. CT (9:45 a.m. ET). Investors and interested parties can access the webcast, replay, and related information on the company's investor website at http://investor.hormelfoods.com. This participation underscores Hormel's commitment to engaging with the investment community and providing insights into its business strategies and performance.
Hormel Foods (NYSE: HRL) announces the retirement of Deanna Brady, executive vice president, Retail, after 28 years of service. Brady will retire at the end of the fiscal year on Oct. 27, 2024. The company also announces the return of John Ghingo, who will join Hormel Foods on Sept. 2, 2024, and assume leadership of the Retail segment on Oct. 28, 2024.
Ghingo, previously president of Applegate Farms, from 2018 to 2022, brings extensive experience in the consumer packaged goods industry. CEO Jim Snee praised Brady's leadership and impact on the company's culture, while expressing confidence in Ghingo's ability to drive continued focus, innovation, and growth within the Retail segment.
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