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Bloomberg Talks
Mark Smucker Talks Portfolio Outlook
Dec 5, 2023
Mark Smucker, Co President and CEO of JM Smucker Co, discusses the strong performance of coffee, frozen PB and J sandwiches, pet snacks, and cat food in their portfolio. They also explore inflation, pricing decisions, changes in consumer behavior during the pandemic, and plans to reduce debt following an acquisition.
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Quick takeaways
- Coffee, encrustables, and pet snacks categories have shown strong performance in Smucker's portfolio with almost 80% of brands growing or maintaining share.
- Smucker plans to reduce leverage over the next two to three years and expresses confidence in the portfolio's ability to generate cash and shareholder value.
Deep dives
Mark Smucker discusses strong performance and consumer trends
Mark Smucker, CEO of Smucker, discusses the strong performance of the company's portfolio, with almost 80% of brands growing or maintaining share. The coffee, encrustables, and pet snacks categories have shown particularly great performance. Despite taking price increases over the past 18 months, Smucker has seen little movement in pricing recently, except for coffee pricing coming down. Smucker emphasizes the importance of offering options from value to premium in order to meet the evolving needs of consumers.
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