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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) will host a conference call and webcast on December 9, 2021, at 8:00 a.m. CT to discuss its 2021 fourth quarter and full-year financial results. The earnings press release will be issued at 5:30 a.m. CT the same day. Interested parties can access the conference call via telephone or listen to a live webcast on the company's website. Hormel Foods is a global branded food company with annual revenues exceeding $10 billion.
Jennie-O Turkey Store, part of Hormel Foods, has launched the Turkey Dance Challenge on TikTok to engage families during the holiday season. Developed by celebrity choreographer Phil Wright, the campaign features an original Thanksgiving-themed song and encourages users to showcase their dance moves using the hashtag #DoTheJennieOTurkeyDance. Celebrity dancers will promote the challenge, creating a festive atmosphere for families to connect either in-person or virtually. The initiative aims to celebrate the holiday spirit centered around Jennie-O turkey products.
Jennie-O Turkey Store, a subsidiary of Hormel Foods (NYSE: HRL), will return to the 95th Macy's Thanksgiving Day Parade on November 25, 2021. The float, known as The Big Turkey Spectacular, measures 36 feet long and 24 feet tall, adorned with over 200 pounds of sparkles. It showcases holiday recipes and cooking tips through a dedicated consumer hotline available throughout November. Vice President Nicole Behne expressed excitement for the event's significance to the brand and its engagement with viewers, including a performance by Tai Verdes.
Hormel Foods Corporation (NYSE: HRL) announces the retirement of Luis Marconi as group vice president of Grocery Products after a 20-year career. Jeff Frank, previously vice president of Grocery Products, will succeed him, focusing on evolving the brand portfolio. Hormel's Grocery Products includes brands like Planters®, SKIPPY®, and SPAM®. Frank's extensive experience includes leading the integration of the Planters® brand, the largest acquisition in Hormel's history. The company continues to enhance its strategy to meet consumer needs in snacking and ethnic foods.
Hormel Foods Corporation (NYSE: HRL) has appointed Wendy A. Watkins as senior vice president and chief communications officer. Since joining in 2015, Watkins has enhanced Hormel's global reputation and corporate responsibility efforts, including leading communications during the COVID-19 pandemic. She is tasked with overseeing internal and external communications while continuing to build Hormel's image as a respected food company. Under her leadership, Hormel has consistently ranked among Fortune's most admired companies and has been recognized for its corporate citizenship.
Hormel Foods Corporation (NYSE: HRL) announced the retirement of Jim Sheehan as executive vice president and CFO after 43 years, effective year-end 2021. Jacinth Smiley, previously group VP of corporate strategy, will succeed him. Smiley brings extensive experience from LyondellBasell and General Electric, focusing on corporate finance and strategic planning. Sheehan leaves a legacy of leadership, including successful implementations like Project Orion and the acquisition of Planters®. Hormel plans to leverage Smiley's expertise to drive growth, especially in international markets.
Jennie-O Turkey Store, a leading turkey brand, is reviving its 1-800-TURKEYS hotline starting Nov. 1, 2021, to assist consumers in planning Thanksgiving meals. A recent survey revealed that 49% of respondents consider turkey the centerpiece of Thanksgiving but feel daunted by cooking it. The hotline offers real-time support through various channels, including live chat and texting. Jennie-O also promotes its OVEN READY turkey, which requires no thawing. New trends from the survey indicate purchasing habits and preferences for turkey preparations as consumers seek help for stress-free holiday meals.
Hormel Foods Corporation (NYSE: HRL) will conduct a virtual Investor Update on October 14, 2021, starting at 9:00 am ET and ending at 11:00 am ET. This event will include a management presentation followed by a live Q&A session. Interested participants can register and view the webcast at investorupdate.hormelfoods.com. For questions, attendees may email IR@Hormel.com or call (844) 479-5350, using passcode 4262615. Hormel Foods is a global branded food company with over $10 billion in annual revenue.
Hormel Foods Corporation (NYSE: HRL) announced a partnership between its venturing company, 199 Ventures, and The Better Meat Co. to develop plant-based protein products utilizing Rhiza, a mycoprotein derived from potato fermentation. The collaboration aims to enhance Hormel's offerings in the growing alternative protein market, highlighting Rhiza's nutritional benefits, including higher protein content than eggs and more iron than beef. This initiative marks Hormel's continued investment in sustainable food innovation.
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