Flowers Foods changes long-term financial targets
Dave's Killer Bread brand set for national roll-out, Flowers Foods announced
Flowers Foods, the US bakery group, has revised long-term targets for sales and earnings.
After 2016, Flowers Foods said it expects to be able to grow net sales by 2-4% a year, excluding acquisitions, down from a previous target of growth of 3-5%.
The company set a new target for earnings per share to rise each year by 8-10%, compared to a previous target for at least "double-digit" growth.
Flowers Foods also published a new long-term goal for EBITDA margins to increase 12-14% each year, up from 11-13%.
The group, which has had moving into new parts of the US as a central part of its strategy in recent years, said the new targets reflected its "focus on its existing footprint and margin expansion".
President and CEO Allen Shiver added: "Going forward, we are focused on developing our existing geographic footprint, driving growth from our organic brands and other underdeveloped segments, and improving promotional and operational efficiencies. While our revised long-term targets now exclude acquisitions, M&A will continue to be an important part of our growth strategy as we seek to identify opportunities that expand our margins and enhance our brand portfolio."
Meanwhile, next week, Flowers Foods will start the national roll-out of its recently-acquired organic bread brand Dave's Killer Bread on the company direct-store-delivery network. Flowers Foods said the move would open up around 9,000 new stores for the products.
Flowers Foods, the US bakery group, is launching a range of breakfast-focused products under organic bread brand Dave's Killer Bread....
Gluten is a protein composite primarily found in wheat, barley, rye, and triticale. A gluten-free food product does not contain gluten-rich grains such as spelt wheat....
The bakery industry has expanded from simple baked goods to a multitude of products across various categories including healthy, organic offerings. Healthy eating trends, in light of growing concerns ...
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