Feb 20, 2024 / 09:00PM GMT
Andrew Lazar - Barclays Bank PLC, Research Division - MD & Senior Research Analyst
It is a pleasure to welcome McCormick back to CAGNY -- to the CAGNY stage. Please join me in thanking McCormick for sponsoring the snack break this morning.
McCormick recently provided guidance for its fiscal '24 year that provides flexibility to step up brand reinvestment and promotional spend to narrow price gaps and improve volume trends in light of more value-seeking consumer. And despite planned incremental spend, McCormick still sees higher year-over-year operating margins this year as pricing has now better caught up to costs, and the company has a strong slate of CCI and GOI -- and GOE productivity plans in place.
Price cap management, incremental marketing spend and packaging innovation are all enabling the company to continue to sequentially improve its unit and value share in core spices and seasonings line by midyear '24. McCormick would expect to have greater representation of new distribution wins and its packaging innovation on shelf given the timing of retailer shelf resets.
McCormick & Company Inc at Consumer Analyst Group of New York (CAGNY) Virtual Conference Transcript
Mar 05, 2024
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