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Hormel Foods CEO on Spam

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  • Description

    Hormel Foods CEO Jeffrey Ettinger on the success of Spam and the impact of rising inflation.

  • Duration 3:29
  • Date

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This transcript is automatically generated

Still struggling economy and outlook and that much better it's editing words.

But that does not -- hormel CEO Jeffrey editor.

As consumers get -- Watson keep buying -- spam.

And very thin and fit angry enough to say different -- hindered as a right now good to have you can read this our 75 anniversary.

-- thank you had the opportunity during the closing bell yesterday on the stock exchange has a great honor for great brand is Spain and your number one seller.

It's our largest global brand and one of our most significant products -- collective items under the hormel brand would be our largest of branded so vital to.

On what -- statement.

It's pork -- -- -- with some secret seasoning and that that that unique flavor is what's really made it sustain our I love and all -- but but.

How long can it less than the camp I suspect decades.

Our our shelf life we provide is using the five year range but that we've had occasions -- certainly last that long really.

-- it on you know what's interesting about it sales of success globally is that in this super -- conscious world.

But not that it's unhealthy but it's not as healthy as some of the other offerings out -- it does remarkably well what do you think the.

The deal -- we believe and are from consumer choices and clearly we have items such as spam luncheon meat -- -- black label bacon which most consumers would not -- health oriented items but we've also soft with our Jennie -- offerings in the Turkey category.

Our natural choice products and -- And -- -- -- -- -- by the way all that they're all they're all good can opt deal worried dealt with the globalization.

Of what I call.

The junk food police source of more correct food police and they don't put.

A lot not all but a lot of your stuff -- -- categories so do you fear the way they've gone after some fast food joints are gonna eventually zero in on you.

-- there's always a concern that some some money but would get ahead of war consumers earlier where their interest are off our our.

Proposition right now as to how record information on label were part of the grocery manufacturers associated association effort.

Do have some of the front front -- -- information related to nutritional weight nutritional labeling.

But really overall -- the balance of items we have were comfortable with where we are in the marketplace.

Meantime we're facing this grocery store inflation we've been saying you guys have been trying to hold.

Panel on that but what we think that's going and its -- soybeans corn and it's.

Corrosive effect on on the prices for beef and everything else.

You can get pretty -- It -- a clear where first effort is to try to find other efficiencies in our operations and we've had good success in doing that throughout our business segments.

We're watching the weather closely here internally than what is all weather Dardenne Nora -- that this last the -- -- one.

I think the current run up has definitely weather driven and it's still may be a little early in the season to call the crop growth completely when -- -- the US you have to come out with guidance on a regular basis but we're still watching to see.

A world shakeout in terms of our business the business effect would have a little bit of the delay we we do hedge our grain positions who always in the 25 to 75% -- -- so.

You've been okay -- a very effective in hedging a lot of your colleagues what they do is state they did sell things the same price but in smaller.

Packages or are you doing matter -- there.

And a couple of categories where were where as we study what the best approach to the consumer was that seem like the best if if we were on offer and in terms of the product size.

But overall you knew you look at pricing you look at other efficiencies sometimes look at packaging to try to keep the item attractive the consumer.

You must do something on you -- as a final someone -- different.

Thank you very much.

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