Interest in cooking, baking keeps B&G Foods on solid footing

摘要

Acknowledging that the company wasn't going to match net sales that got a boost during the COVID-19 pandemic, Kenneth C. Keller, president and chief executive officer, said B&G Foods, Inc. still remains a larger business than it was in 2019, driven by continued growth and interest in cooking, baking and eating at home. "B&G's base business is up 7% on a two-year stack from 2019," Mr. Keller said during an Aug. 5 conference call with analysts to discuss second-quarter results. "Within the portfolio, our spices and seasonings, baking and meals brands are up 20% versus Q2 2019. And specifically on spices and seasonings, which is about 20% of our total company portfolio and aggregates to be the No. 2 spices and seasonings business in the United States, net sales are up more than 20% from Q2 2019 and remains well positioned coming out of the pandemic as more consumers continue to cook more often at home. Also, the spices and seasonings portfolio is about 15% to 20% foodservice, so we are also benefiting as restaurants and eating establishments reopen and more Americans are dining out again." Along with its spices and seasonings business, B&G Foods is experiencing positive trends within its baking portfolio, Mr. Keller said.