Sound Bite: Examining the Fiscal Results of Global Packaged Food Companies
As the fiscal year closes on 2013, several surprises have occurred in the packaged food industry. Danone, for example, took a huge hit in the third quarter of 2013 due to product recalls, and Mondelez’s 2013 results were less than 1 percent growth in terms of net revenue due to the lackluster sales of the Oreo brand in key markets. These hard hit brands can look forward to 2014, as global events such as the World Cup can help packaged food bands, especially in the snack sector, regain lost revenue.
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