All articles tagged with #consumer shift
Kraft Heinz plans to split into two separate companies, separating its slower-growing grocery business from its faster-growing sauces and condiments, in response to changing consumer preferences and market pressures, aiming to unlock value and focus on core brands.
Conagra Brands, the leading frozen food company, saw its stock hit its lowest level since March 2020 as consumers shift away from convenience items and towards "hands-on food prep" to stretch their budgets. While Conagra beat earnings expectations in Q1, sales of refrigerated and frozen items dropped 4.6% compared to the previous year. Other frozen food companies, such as Kraft Heinz and J.M. Smucker, are also experiencing declines. Despite the current consumer shift, Conagra remains optimistic about the long-term growth prospects of frozen food, citing continued innovation and expansion in the space.