Procter & Gamble will appoint Jon Moeller, its current chief operating officer, as CEO in November when current CEO David Taylor becomes executive board chair. P&G's second-quarter net sales rose 7%, exceeding analyst projections, with organic sales for its health care and grooming units up 14% and 6%, respectively, and organic revenue for its beauty division increasing 6%.
Mondelez will emerge as the world's third-largest packaged cake company after it closes its $850 million acquisition of European cakes and croissants business Chipita, said CEO Dirk Van de Put. Mondelez is attracted to the $65 billion category, as it's "growing at or above the rate of our core snacks categories," added Van de Put.
Sales grew 33.5% for L'Oreal's first half of 2021 compared with 2019, surpassing analyst expectations and marking a return to pre-pandemic sales growth. Sales for the cosmetics and personal care company's consumer products unit grew 14% compared to the same period in 2020, and the active cosmetics and professional products divisions experienced record growth, according to CEO Nicolas Hieronimus.
Hershey has raised its full-year net sales forecast by 2 points to 6% to 8% following a 16.5% increase in second-quarter net sales. A better-than-expected recovery in its away-from-home business boosted North American sales by 12.3%, while international and other sales grew 70.2%, and Hershey's purchase of Lily's Sweets supported quarterly growth.
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An Oldways Whole Grains Council survey finds 95% of US adults report their daily whole grains intake has either grown or remains unchanged compared to five years ago, with health followed by taste as deciding factors in the purchase. "Interestingly, while we often assume that low-carb dieters have lower whole grain consumption, those who say they avoid carbs are more likely to also tell us they look for whole grains when shopping," stated the report.
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Most Clicked: Take a look at this week's hottest food and beverage industry stories with SmartBrief's Top 10 list.
Unilever's plans to spin off its Tazo and T2 tea brands, Instacart's entry into grocery microfulfillment and Walmart's 100% tuition assistance for employees caught SmartBrief readers' attention this week. Campbell's Soup's redesigned labels and its sale of 100 nonfungible tokens to support Feeding America led this week's Top 10 list.
Henkel has joined Out Leadership, which is said to serve as the largest business-led organization in the world striving to improve LGBTQ+ equality. "At Henkel, we are always striving to build a more inclusive environment where everyone feels like they belong and are empowered to come to work each day as their true selves," said Frank Steinert, head of human resources at Henkel North America.
TikTok created a "Re:Make by TikTok" campaign that features some of the platform's top creators reimagining three classic ads -- TBWA\Chiat\Day New York's "Touch" for Skittles, BBDO New York's "Game" for Snickers and Wieden+Kennedy Portland's "The Man Your Man Could Smell Like" for Old Spice. The push was created by BBDO, Mars and Mars Wrigley's The Hive and Procter & Gamble, and #TikTokRemake encourages others to share their own ad remakes or suggest other spots to be remade.
Today, Consumer Brands unveiled a new supply chain policy platform, Deliver America: A Platform to Restore Supply Chain Competitiveness and Resiliency, which outlines a national strategy for clear federal leadership, coordinated government action and forward-looking public policy. "As the difficult cost environment rages on, our government must take action to end its uncoordinated and outdated approach to supply chain policy and let some steam out of the engine," said Geoff Freeman, president and CEO of Consumer Brands.
It's tempting to blame dysfunctions in the supply chain on the pandemic. But a new white paper from the Consumer Brands Association and Accenture says underlying structural flaws existed before COVID-19. Disruptions were driven by growth in e-commerce even before the pandemic, and consumers' service expectations had already driven up fulfillment costs for suppliers. Nonetheless, the pandemic has brought those and other issues into stark focus. Read more.
Whether it's talent, costs or inflation, CPG companies are facing their own bend or break moment. They have always been experts at finding efficiencies that kept costs from hitting consumers. But as the difficulties mount, that expertise is facing one of its biggest challenges yet.
Katie Denis, Vice President of Industry Narrative, Consumer Brands Association