More financial reports have come in from the specialty sector, this time revealing central growth strategies for specialty behemoth Kraft Heinz Company. The supplier recently shared its results for the second quarter of 2024, noting multiple key challenges and strategies to overcome them.
“Our second quarter net sales growth came in lower than originally anticipated, as consumer sentiment remains cautious,” said Kraft Heinz Chief Executive Officer Carlos Abrams-Rivera. “While we are now expecting a more gradual top-line improvement in the back half of the year, we continue to unlock efficiencies that are allowing us to make accretive investments in our brands, grow profits, and drive future sales growth.”
These business investment strategies are setting the stage for further company growth throughout Q3 and Q4 of fiscal 2024, the company shared.
“As we enter the second half of 2024, many drivers are giving us optimism for improved top-line trends. We are anticipating a continued ramp-up of both innovation and renovation, particularly in North America Retail, and we are increasing our marketing investment to continue to drive brand superiority across our portfolio,” Abrams-Rivera added. “In Away From Home and Emerging Markets, we expect to increase distribution through our go-to-market strategy and global activations. Finally, understanding that the consumer is looking for value, we will selectively increase investments in promotions.”
A press release revealed key insights into the specialty brand’s second quarter performance, including:
“We remain confident in our strategy and in the attractive categories in which we compete. We are committed to managing our business in a disciplined manner that preserves our ability to drive sustainable, long-term growth,” Abrams-Rivera concluded.
Dig further into the company’s Q2 results here.
And for more specialty sector insights, leave a tab open to Deli Market News!
