The Nature's Own, Dave's Killer Bread, Wonder, Canyon Bakehouse, and Tastykake brands are on a rise in the bakery sector. Flowers Foods, the parent company of these beloved brands and more, has revealed its financial results for the company's 12-week second quarter ended July 16, 2022. In its report, the company shared that its sales increased 11 percent, totaling $1.129 billion.
"I am very pleased with our record second quarter sales results, an achievement that reflects the strength of our leading brands and outstanding commitment of our dedicated Flowers team," said Ryals McMullian, President and Chief Executive Officer. "Our performance in this challenging consumer environment demonstrates the resiliency of the category and underscores the advantages of our diversified business model. As more consumers seek to maximize the value of their spending, our diverse product line and broad distribution enables us to satisfy consumer demand at various price points wherever they shop."
According to a press release, Flower Foods expects the following for the 52-week fiscal 2022 year:
"The successful execution of our pricing and portfolio strategies, together with our diligent focus on efficiencies, mitigated many of the inflationary and supply chain pressures and drove better-than-expected margins,” McMullian continued. “Reflecting this strong performance, we are increasing the bottom of our earnings outlook range. To further enhance shareholder value, we increased our dividend, repurchased shares, and invested in Base Culture, a fast-growing, premium baked goods brand. As always, we remain committed to executing on our strategic pillars and driving results in line with our long-term financial targets."
For a closer look at the bakery name’s second quarter performance, click here.
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