General Mills sees the uncertainty of another year

MINNEAPOLIS – General Mills, Inc.’s management team is preparing for double-digit inflation in fiscal 2023 for ongoing disruptions in the cost of goods sold and the supply chain. “I think we expect a year of uncertainty, honestly, similar to the table set this year,” Kofi A. Bruce, chief financial officer, said in a conference call … Read more

Snack makers support digitization | Food Business News

CHICAGO – Inflation, ongoing supply chain challenges and other factors are likely to affect consumer purchasing and create headwinds for the snack category in the coming months. “A big challenge for snack players is to add value to products so that consumers are willing to pay higher prices,” said Anne Scott Livingston, a food and … Read more

Reasons to create good business credit in the beginning of your business

Having good business credit is one of the most important requirements for small business financing. If you are currently in the process of expanding your bakery business, building good business credit early will help you get capital at better terms and rates that are difficult for most new borrowers. What is business credit? A business … Read more

The future of food in the heart of America

CHICAGO – “In the next 10 years, the last 50 years in the food industry will look like they’ve been in the rhythm of a snail,” said Don Thompson, Cleveland Avenue, Chicago’s chief executive and founder. “It will be hyperaggressive and hyperactive.” Mr. Thompson, a former president and CEO of McDonald’s Corp., spoke at the … Read more

Delicious innovation on display at Sweets & Snacks

CHICAGO – The confectionery industry overcame difficult comparisons in 2021 to achieve significant growth. Chocolate and non-chocolate dollar sales increased compared to 2020, and improved in 2019 compared to COVID. U.S. bakery sales reached $ 28.9 billion in the IRI market, including grocery stores, mass, club, curators, convenience, drugs. and dollar stores. When it comes … Read more