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| DAILY BRIEFING: LITE EDITION | | A preview of today's news & insights for the food industry. |
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| | 📰 Today's Top Story | | | The challenging operating environment and cautious consumer sentiment continues to drag down profits of some of the country’s top food companies – including The Hershey Company, Kraft Heinz and Mondelēz International, according to their respective earnings calls this week.
Hershey CEO Michele Buck told investors yesterday that while consumers have been pulling back on discretionary spending, its confection and salty snacks portfolios continue to see momentum. But those sentiments came as the company reported a 16.7% drop in consolidated net sales, volume decrease of 18% and operating profit decline of 48.7% to $287.8 million during the quarter. |
| | ✨ What You Need to Know ✨ | | | It’s finally Friday, folks! And that can only mean one thing – it’s time for the release of our weekly new product gallery. Here’s a brief overview of what’s in store:
🫒 Little Spoon joins forces with olive oil maker Graza to launch its Little Drizzle collection. The limited-edition collection includes a Sweet n’ Savory Summer Harvest Babyblend and a Mediterranean-style Chicken Bravas Biteable. 🍓 Capitalizing on the rising popularity of private label, Kroger introduces its Field & Vine fresh produce line grown by U.S. farmers in California, Florida, Georgia, Michigan, New Jersey, North Carolina, Oregon and Washington. The brand currently carries blueberries, raspberries and strawberries. 🍄 Santa Cruz Fungi has ventured into the world of frozen treats with the release of mushroom-infused popsicles, aptly named Shroomsicles. The frosty pops are available in eight flavors: Strawberry Lion’s Mint, Chagaccino, Key Lion’s Mane Pie, Cotton Candy Cap, Chag-olate, Cordy Creamsicle, Tremella Lematcha and Porcini Pumpkin Pie. Check out the full new products roundup on Nosh.
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| | | | | Get ready for the Nosh Live Pitch Slam, an exciting showcase of innovation in the packaged food industry at Nosh Live on December 5-6. Watch emerging startups pitch their brands to a panel of judges, competing for a $10,000 advertising package. The event attracts investors, retailers, and industry professionals, offering excellent networking opportunities. Apply by November 1 at no additional cost beyond Nosh Live registration. |
| | 🚨 What You're Missing 🚨 | - Deal details on the new brand joining King's Hawaiian's parent co.
- Distribution news from around the industry
- Inside the food trends coming out of the Olympic Village
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