TIDMHSH
The Hillshire Brands Company (NYSE: HSH) presented today at the
Consumer Analyst Group of New York's (CAGNY) annual conference.
Sean Connolly, president and chief executive officer, and Maria
Henry, chief financial officer, provided an overview on the
progress the company has made against its strategies.
"We have made broad-based progress against our plan," said
Connolly. "Hillshire Brands competes in attractive and profitable
categories. Our disciplined investment in brand building and
innovation, coupled with our focus on cost management, positions us
to generate strong and sustainable shareholder returns."
Specifically, Connolly cited the progress the company has made
in increasing operating income, earnings per share and total
shareholder return since it debuted as a public company in the
summer of 2012. He also mentioned he expects further progress
driven by a strong innovation slate that will launch in the next
few months.
The company's core brands - Jimmy Dean, Ball Park, Hillshire
Farm, State Fair, Aidell's, Gallo, Golden Island, Chef Pierre and
Sara Lee - are leaders in their respective categories. To support
these brands, the company has ramped up innovation, driven
distribution gains and intends to increase MAP investment to five
percent of sales by the end of fiscal 2015.
The presentation highlighted numerous new product line
extensions and adjacent innovations. Additionally, it covered
capital deployment plans and touched on the company's increased
dividend and expected share repurchases of $200 million through
fiscal 2015. The company also described its strategy to leverage
its assets and capabilities through M&A activity.
About The Hillshire Brands Company
The Hillshire Brands Company (NYSE: HSH) is a leader in branded
foods. The company generated approximately $4 billion in annual
sales in fiscal 2013, has more than 9,000 employees, and is based
in Chicago. Hillshire Brands' portfolio includes iconic brands such
as Jimmy Dean, Ball Park, Hillshire Farm, State Fair, Sara Lee
frozen bakery and Chef Pierre pies, as well as artisanal brands
Aidells, Gallo Salame and Golden Island premium jerky. For more
information on the company, please visit
www.hillshirebrands.com.
Forward-Looking Statements
This release contains forward-looking statements regarding
Hillshire Brands' business prospects and future financial results
and metrics, including statements contained under the heading "CEO
Perspective," and "Outlook." Forward-looking statements are
typically preceded by terms such as "will," "anticipates,"
"intends," "expects," "plans," "likely" or "believes" and other
similar terms. These forward-looking statements are based on
currently available competitive, financial and economic data and
management's views and assumptions regarding future events and are
inherently uncertain.
Investors must recognize that actual results may differ from
those expressed or implied in the forward-looking statements, and
the company wishes to caution readers not to place undue reliance
on any forward-looking statements. Among the factors that could
cause Hillshire Brands' actual results to differ from such
forward-looking statements are those described under Item 1A, Risk
Factors, in Hillshire Brands' most recent Annual Report on Form
10-K, as well as factors relating to:
-- The consumer marketplace, such as (i) intense competition, including
advertising, promotional and price competition; (ii) changes
in
consumer behavior due to economic conditions, such as a shift
in
consumer demand toward private label; (iii) fluctuations in
raw
material costs, Hillshire Brands' ability to increase or
maintain
product prices in response to cost fluctuations and the impact
on
profitability; (iv) the impact of various food safety issues
and
regulations on sales and profitability of Hillshire Brands'
products;
and (v) inherent risks in the marketplace associated with
product
innovations, including uncertainties related to execution and
trade
and consumer acceptance;
-- Hillshire Brands' relationship with its customers, such as (i) a
significant change in Hillshire Brands' business with any of its
major
customers, such as Wal-Mart, its largest customer; and (ii)
credit and
other business risks associated with customers operating in a
highly
competitive retail environment;
-- Hillshire Brands' spin-off of its international coffee and tea
business in June 2012, including potential tax liabilities and
other
indemnification obligations; and
-- Other factors, such as (i) Hillshire Brands' ability to generate
margin improvement through cost reduction and productivity
improvement
initiatives; (ii) Hillshire Brands' credit ratings, the impact
of
Hillshire Brands' capital plans on such credit ratings and the
impact
these ratings and changes in these ratings may have on
Hillshire
Brands' cost to borrow funds and access to capital/debt markets;
and
(iii) the settlement of a number of ongoing reviews of
Hillshire
Brands' income tax filing positions and inherent uncertainties
related
to the interpretation of tax regulations in the jurisdictions in
which
Hillshire Brands transacts or has transacted business.
The Hillshire Brands CompanyMedia:Mike Cummins,
+1.312.614.8412Analysts:Melissa Napier, +1.312.614.8739
This information is provided by Business Wire
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