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March 13, 2020

Coronavirus – J&J Snack Foods warns of potential impact on sales

J&J Snack Foods, the US food business serving retail and foodservice channels, has warned its sales could be impacted by coronavirus.

By Dean Best

J&J Snack Foods, the US food business serving retail and foodservice channels, has warned its sales could be impacted by coronavirus as fewer consumers eat out.

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The Nasdaq-listed business, located in New Jersey, produces baked goods, cookies, snacks, desserts and frozen beverages under brands such as Hill & Valley, Minute Maid and Auntie Anne’s. The company generated sales in 2019 of US$1.1bn and net earnings of $103.6m.

J&J Snack Foods said in a statement late yesterday (12 March) that it “expects its results of operations to be impacted by the closings and anticipated lower attendance and traffic at many of the venues and locations where its products are sold, such as schools, stadiums and arenas, movie theatres, amusement parks and restaurants, and by a general slowdown in activity throughout the United States resulting from the effects of the coronavirus (Covid-19).” 

The impact may be “material”, the company said, although it could not at this stage put an estimate on exactly what that might be. However, it noted sales from such outlets amount to around $350m to $400m annually.

Gerald Shreiber, its president and chief executive, said: “We have and are continuing to develop contingency plans to address and lessen the impact of the effects of coronavirus on our employees, our customers and our overall business.”

Related Companies

Free Whitepaper
img

Sales Intelligence: A Program To Accelerate Sales

The dynamics of B2B (Business to business) sales have rapidly changed over the last few years, especially during and post covid and will continue to do so. Some prominent shifts include, B2B organizations are switching to digital channels to drive customer engagement, more and more B2B organizations adopting to hybrid sales model and therefore programs such as sales intelligence are gaining traction.   As per recent sales enablement collective 2022 report, 95% of survey respondents have a dedicated  enablement team at their company, and 79% say enablement is a strategic part of their business This paper offers guidance as to what we at GlobalData think are important elements of any sales  intelligence program and KPIs to measure the success of such programs.   The white paper covers:
  • Changing B2B sales landscape and new challenges for sales executives
  • Key elements of sales intelligence program
  • How can sales intelligence benefit sales & marketing?
  • What are the must-have KPI’s to measure the success of sales intelligence programs?
by GD50 Custom
Enter your details here to receive your free Whitepaper.

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