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The J.M. Smucker Company (NYSE: SJM) is a leading American packaged food company celebrated for its commitment to quality and a diverse portfolio of beloved brands. With a primary revenue stream from the U.S. retail channel, which constitutes 77% of its forecast fiscal 2024 revenue, Smucker’s offers products that families across North America trust and enjoy daily.
The company operates in several key categories:
- Coffee: Retail coffee is now Smucker’s largest category, accounting for 33% of sales. Key brands include Folgers and Dunkin'.
- Pet Foods: Contributing 22% of sales, this segment boasts leading brands like Milk-Bone and Meow Mix.
- Consumer Foods: Approximately 22% of sales come from consumer foods, including popular offerings from brands such as Jif and Smucker’s.
Smucker’s has recently acquired Hostess Brands, adding iconic sweet baked snacks such as Twinkies, Ding Dongs, and more to its product lineup. This acquisition is expected to enhance Smucker’s presence in the snack and convenience store segment.
In efforts to streamline its portfolio, the company divested several pet food brands and private-label products, along with the Sahale Snacks® brand and certain pickle brands to other companies. These strategic moves are intended to focus resources and drive sustainable growth.
Financially, Smucker’s reported strong results for its second quarter of fiscal year 2024, despite a 12% decrease in net sales primarily due to divestitures. The company also announced an increase in comparable net sales by 7%, driven by product innovations and strategic price realizations.
Smucker’s continues to innovate, as seen with the launch of new products like the Hostess® HoneyBun Donettes®, combining beloved flavors to meet consumer demand for unique snacking experiences. The company is also introducing limited-time offerings for seasonal occasions, further cementing its market presence.
The company's forward-looking strategy includes integrating Hostess Brands effectively, leveraging synergies, and continuing to lead in its core categories. Committed to sustainable growth, Smucker’s aims to balance profitability with social responsibility, maintaining high standards for product quality and ethical operation.
The J.M. Smucker Co. (NYSE: SJM) declared a $1.02 per share dividend on its common shares, scheduled for payment on June 1, 2023. Shareholders must hold the shares by the close of business on May 12, 2023 to be eligible for this dividend. Additionally, the company announced its Annual Meeting of Shareholders to take place on August 16, 2023, at 12:00 p.m. Eastern Time. Shareholders of record by June 20, 2023 can attend via a virtual platform, requiring a 16-digit control number for access.
The J.M. Smucker Co. (NYSE: SJM) will participate in a fireside chat at the BofA Securities 2023 Consumer and Retail Conference on March 14, 2023, at 8:00 a.m. EST. The discussion will feature Mark Smucker, Chair, President, and CEO, alongside Tucker Marshall, CFO. Investors can access the live webcast on the company's website, with a replay available post-event. The J.M. Smucker Co. is recognized for its diverse portfolio in the North American food market, including popular brands like Folgers, Dunkin', and Meow Mix, committed to producing high-quality products responsibly.
The J.M. Smucker Co. has announced key leadership appointments, effective March 13 and April 10, 2023. Gail Hollander will become Chief Marketing Officer, bringing 20 years of experience from Publicis Groupe, where she enhanced Smucker's brand relevance. Robert Crane is promoted to Senior Vice President, Head of Sales and Sales Commercialization, following his success in the Pet division. Tim Wayne now oversees the Away From Home division in Canada and internationally, and Angie Burick becomes Senior Vice President, Finance and Controller, ensuring M&A alignment with financial strategies. These updates aim to bolster brand growth and operational excellence.
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