163 annotations
Page 4 of 9
our elasticities have consistently been better. And by that, I mean, more benign than our peers
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2023 Q1
8 Oct 22
the net effect is flat and benign elasticities this far into an inflation and pricing cycle
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2023 Q1
8 Oct 22
the lost inventory effect will linger into Q2 impacting volumes and margins.
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2023 Q1
8 Oct 22
in our canned chili and beans businesses, where late in Q1, we found cans that were off spec.
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2023 Q1
8 Oct 22
This pulled sales and gross margin below where they should have been.
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2023 Q1
8 Oct 22
In our Foodservice business, we identified an off-spec finished good issue while producing product for a customer.
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2023 Q1
8 Oct 22
We expect to end fiscal ’23 with a net leverage ratio of roughly 3.7 times.
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2023 Q1
8 Oct 22
you maintained your full year guidance despite the upside in the quarter.
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2023 Q1
8 Oct 22
Q1 results were ahead of consensus expectations
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2023 Q1
8 Oct 22
and you have to bake in the lag
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2023 Q1
8 Oct 22
If we continue to see new waves of inflation come in, we'll take additional pricing
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2023 Q1
8 Oct 22
what we're doing in the back half of the year was not locked and loaded at the beginning of the year when we gave guidance
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2023 Q1
8 Oct 22
their big trips become smaller trips, and they postpone purchases, and their buying rate will drop a bit
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2023 Q1
8 Oct 22
there will be modest short-term impacts on household penetration as consumers defer purchases
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2023 Q1
8 Oct 22
within some of our categories, there's just -- there is really no trade down option
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2023 Q1
8 Oct 22
volume and total dollar consumption for 52 weeks now versus three years ago, our dollar consumption is close to plus 20%, and our volumes are pretty much flat.
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2023 Q1
8 Oct 22
And then just one quick question on SG&A. SG&A ex-A&P was up 10% or so. It looks like incentive comp drove about 8% of that. Is that correct?
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2023 Q1
8 Oct 22
The good news, as I pointed out earlier, is that the elasticity coefficients just haven't budged. I mean they are flat as a pancake, as I showed you in the presentation.
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2023 Q1
8 Oct 22
in the first quarter results, we did have negative sourcing, right, because we come off favorable contracts.
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2023 Q1
8 Oct 22
we don't see any significant kind of issue with retailer inventories right now
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2023 Q1
8 Oct 22