America's legacy consumer brands lose their magic

Earnings
โดย Financial Times·US·Read original
Summary · why it matters

America's biggest consumer packaged goods companies are losing volume as shoppers trade down to private labels and insurgent brands, squeezing the $1tn-a-year industry from both sides. Kraft Heinz's North American sales volumes have contracted in nine of the past 10 years, and volumes were flat or falling at Conagra Brands, General Mills, JM Smucker, PepsiCo, and Colgate-Palmolive in the latest quarter. US bricks-and-mortar retailers sold 9.3bn fewer units of food and consumer-packaged goods in the past 12 months than five years before, while private-label share gained more than one percentage point to over a quarter of total sales. Kraft Heinz CEO Steve Cahillane is investing $700mn in legacy brands, including a Walt Disney partnership, rather than breaking up the $30bn group. Procter & Gamble's sales volume failed to grow in the latest quarter, and its chief executive Shailesh Jejurikar said it is much more challenging to get consumers' attention in today's fragmented media landscape.

Impact on stocks 8

Consumer Staples▼ · 7 stocks
The Kraft Heinz Company
KHC
▼ NegativeDemandrelevance

North American sales volumes contracted in nine of past 10 years; CEO invests $700mn in legacy brands.

Conagra Brands, Inc.
CAG
▼ NegativeDemandrelevance

Volumes flat or falling in latest quarter as shoppers trade down to private labels.

General Mills Inc
GIS
▼ NegativeDemandrelevance

Volumes flat or falling in latest quarter as shoppers trade down to private labels.

PepsiCo Inc
PEP
▼ NegativeDemandrelevance

Volumes flat or falling in latest quarter as shoppers trade down to private labels.

Procter & Gamble Company
PG
▼ NegativeDemandrelevance

Sales volume failed to grow in the latest quarter, indicating weakening consumer demand for its products.

The J. M. Smucker Company
SJM
▼ NegativeDemandrelevance

Volumes were flat or falling in the latest quarter as shoppers trade down to private labels and insurgent brands.

Communication Services▲ · 1 stocks
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