“We believe that these changes are more consistent with our strategic priority to focus on our brands and that they will bring a more structured approach to innovation,” McMullian said. “This will enable us to build on the strengths of our brands and bring our customers and consumers more new and exciting products."
Flowers reported a 6.8% sales increase in its fiscal first quarter in May, to $1.35 billion. It attributed 6.5- 7.5% of this increase to the COVID-19 pandemic, with branded retail sales growing 17.7% to offset non-retail and other sales declines of 15%.
In providing preliminary Q2 results, which ended July 11, the company expects net sales to increase approximately 4.5-5% over the prior year period. Final results will be shared Aug. 6.
In addition to selling direct-store-delivery (DSD) through a network of independent distributors to retail and foodservice customers, Flowers also produces items for national retail, foodservice, vending and co-pack customers through a network of warehouse channels, primarily under the Canyon Bakehouse, Mrs. Freshley’s, Alpine Valley Bakery and European Bakers brands.
The company, which reported $4.1 billion in sales in 2019 and employs about 9,700 people, also sells under such franchised and licensed trademarks and trade names as Sunbeam, Bunny and Sara Lee.