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MarketScreener Homepage  >  Equities  >  Nasdaq  >  The Kraft Heinz Company    KHC

THE KRAFT HEINZ COMPANY

(KHC)
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Real-time Estimate Quote. Real-time Estimate Cboe BZX - 07/02 04:10:02 pm
32.005 USD   +1.06%
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Gum, mints and snack bar sales slump, as U.S. consumers order online amid COVID-19 crisis

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05/28/2020 | 11:34am EDT
A customer wearing a protective mask shops in a store following the outbreak of coronavirus disease (COVID-19) in New York City

By Martinne Geller

Impulse purchases - gum, mints and snack bars tossed into a shopping basket as one snakes through the supermarket checkout line - are falling as more people get groceries delivered or pick them up curbside.

U.S. sales of mints are down 30 percent year-on-year at stores tracked by market researcher Nielsen in the 11 weeks ending on May 16, while sales of gum are down 28 percent.

The pandemic has prompted many people to switch to online grocery shopping rather than visiting stores, where snacks and other so-called "impulse purchases" are placed strategically near checkout lines.

"Sales in our gum and mint category have also been significantly impacted by social distancing protocols," Hershey, maker of Ice Breakers mints, said in a filing onWednesday. Mondelez International last month forecast "material declines" in its gum business, which includes Trident and Stride, in the second quarter, describing that category as "the most impulse in nature." Gum, which is mostly consumed when people go out, is often bought in convenience stores, many of which are closed, it added.

Consumers are not, however, abandoning oral care amid social distancing measures. Toothpaste and mouth wash sales are up 12 percent and 13 percent, respectively, for the 11-week period, according to Nielsen.

In general, packaged food makers, including Nestle, Kraft Heinz and General Mills have seen a huge boost since the pandemic forced the closure of restaurants, bars and hotels, leading people to eat more at home. The shaky economy in the United States could be another factor in the decline in sales of the "to-go" snack items, because they're not seen by consumers as necessities, according to Amy Goldsmith, a food marketing consultant in Los Angeles.

"With the economy, snacking is probably going to take a hit, if it hasn't already," she said. "If you're not on-the-go, you can make yourself a sandwich or have leftovers from last night, so you're not wasting."

Performance nutrition bars, which many companies pitch as healthy snacks, are down 19 percent in the 11 weeks ending on May 16, according to Nielsen. Cereal and granola bars, sometimes marketed to replace breakfast, fared better, up 3 percent.

Daniel Lubetzky, founder and executive chairman of KIND Snacks, said there remained a lot of uncertainty. "It's very difficult to plan," he told Reuters.

"People aren't working out, they're not on the go as much," Jon Nudi, General Mills' head of North America retail, told Reuters on Wednesday, noting that diet-focused bars with low calories or sugar were particularly affected.

General Mills, owner of Nature Valley and Larabar snack bars, is the biggest player in a global snack bar market worth $16.7 billion at retail, according to market researcher Euromonitor International. "People, at least for the time-being, have put off dieting ... to embrace more indulgent things," Nudi said, noting his company's Betty Crocker dessert mixes saw sales jump more than 100 percent in the early days of the pandemic. Nudi said snack bar sales should improve as lockdown rules ease, and noted that recessions usually cause people to seek out value brands, where most of its bars play.

(Reporting by Martinne Geller; Editing by Aurora Ellis and David Evans)

Stocks mentioned in the article
ChangeLast1st jan.
GENERAL MILLS, INC. 1.22% 61.2 Delayed Quote.15.10%
MINT 6.03% 6.68 Real-time Quote.31.25%
MONDELEZ INTERNATIONAL, INC 1.06% 51.63 Delayed Quote.-7.26%
NESTLÉ S.A. 0.48% 105.76 Delayed Quote.0.46%
SEEK LIMITED 0.87% 21.99 End-of-day quote.-2.48%
SWITCH, INC. 0.86% 18.67 Delayed Quote.24.83%
THE GLOBAL LTD. -0.96% 207 End-of-day quote.-56.05%
THE KRAFT HEINZ COMPANY 0.63% 31.845 Delayed Quote.-1.43%
THE NEW HOME COMPANY INC. 3.46% 3.29 Delayed Quote.-31.76%
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Financials (USD)
Sales 2020 25 077 M - -
Net income 2020 2 616 M - -
Net Debt 2020 26 253 M - -
P/E ratio 2020 14,9x
Yield 2020 5,05%
Capitalization 38 695 M 38 695 M -
EV / Sales 2019
EV / Sales 2020 2,59x
Nbr of Employees 37 000
Free-Float 25,9%
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Technical analysis trends THE KRAFT HEINZ COMPANY
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 32,80 $
Last Close Price 31,67 $
Spread / Highest target 51,6%
Spread / Average Target 3,57%
Spread / Lowest Target -14,7%
EPS Revisions
Managers
NameTitle
Miguel Patricio Chief Executive Officer
Alexandre Behring da Costa Chairman
Flavio Torres Head-Global Operations
Paulo Basilio Global Chief Financial Officer
Gregory Edward Abel Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
THE KRAFT HEINZ COMPANY-1.43%38 695
NESTLÉ S.A.0.46%320 876
MONDELEZ INTERNATIONAL, INC-7.26%72 915
DANONE-17.62%44 491
GENERAL MILLS, INC.15.10%36 629
THE HERSHEY COMPANY-11.47%27 066