McCormick & Company Inc at Consumer Analyst Group of New York (CAGNY) Virtual Conference Transcript
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.
Access to All Earning Calls and Stock Analysis | |
30-Year Financial on one screen | |
All-in-one Stock Screener with unlimited filters | |
Customizable Stock Dashboard | |
Real Time Insider Trading Transactions | |
8,000+ Institutional investors’ 13F holdings | |
Powerful Excel Add-in and Google sheets Add-on | |
All data downloadable | |
Quick customer support | |
And much more... |