Obsessives - Coffee

Discussion in 'Luxury and Lifestyle' started by dealmaker, Mar 7, 2017.

  1. There's new again cafe trend in miami. The resurrection of the 60's cafe racer, plus barber shop, foodie night club hangout after hours
    https://imperialmoto.com/
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    Last edited: Dec 3, 2019
    #21     Dec 3, 2019
    dealmaker likes this.
  2. dealmaker

    dealmaker

    Photographer: Justin Sullivan/Getty Images

    Business
    Millennials Embrace Baby Boom Icon Folgers Coffee
    By Carolina Gonzalez and Isis Almeida
    October 9, 2020, 4:00 AM PDT
    • JM Smucker CEO says consumers are returning to big name brands
    • Shopper stockpiling has moderated since the outbreak started

    Wall Street may be skeptical, but millennials are warming to Folgers.

    That’s according to Mark Smucker, chief executive officer of JM Smucker Co., which owns the coffee brand that helped introduce the world to ground and instant coffee decades ago with ubiquitous TV ads that called it “the best part of waking up.” While its status in the $9 billion U.S. market for packaged coffee has eroded in recent years, Folgers is now making up some lost ground.

    “There was a period when investors were challenging: ‘Do millennials really drink Folgers?’” Smucker said in an interview with Bloomberg News. “Believe it or not, they do drink Folgers.”

    His company, which owns a wide range of consumer-food brands from Uncrustables frozen sandwiches to pet food, has seen its coffee products enter 1.3 million new households over a three-month period, with Folgers leading the way. Smucker singled it out as “one of the brands in our portfolio that benefited the most from the pandemic.”

    [​IMG]
    Mark Smucker

    Photographer: D Dipasupil/FilmMagic via Getty Images

    Smucker, who represents the fifth generation of company leaders from the founding family, spoke about consumers’ pantry loading during the pandemic -- it has moderated after an initial boom -- and the outlook for business amid widespread uncertainty.

    Packaged food has been one of the areas to benefit in 2020 as consumer behavior rapidly shifted amid lockdowns and Covid-19’s disruption of daily life around the world. Smucker has posted two quarters of double-digit revenue growth after a three-quarter slump. The stock has gained 12% this year, nearly double the rise of the S&P 500 Index.

    1850, a nod to the founding of Folgers’s precursor.

    While the meat industry experienced disruption early on in the pandemic due to outbreaks at packing plants, the packaged-food industry has avoided any lasting impact on production. Smucker said there could be problems getting enough packaging, but obtaining raw materials hasn’t been an issue.

    See Also: Rally in Food Prices Could Keep Going With Tighter Crop Supplies

    “We continue to run our plants at full. We do continue to build inventory wherever we can,” he said. “I expect that if there were a second outbreak, that it would not be as pronounced as the first, and that generally the supply chain would hold up.”

    He flagged the Uncrustables line as a particularly popular offering, with daily production now reaching as much as 3.5 million of the frozen peanut-butter-and-jelly sandwiches.

    The company has built up its brands via acquisitions,buying Ainsworth Pet Nutrition for $1.9 billion in 2018. While JM Smucker is looking at potential acquisition targets, the market has been relatively quiet recently, Smucker said.

    “There’s a lot of cash out there chasing not as many assets,” he said.

    — With assistance by Marvin G Perez

    https://www.bloomberg.com/news/arti...-baby-boom-icon-folgers-in-at-home-coffee-era
     
    #24     Oct 12, 2020
  3. Rodrigo_1

    Rodrigo_1

    Coffee - anytime, anywhere, m always ready.
     
    #25     Oct 13, 2020
  4. elderado

    elderado

    I saw that. Folgers isn't worth drinking to me. A bad cup-o-joe just ain't worth it, but I don't eat Uncrustables, either..
     
    #26     Oct 13, 2020
    dealmaker likes this.