Flowers Foods, Inc. Reports First Quarter 2018 Results
Source Flowers Foods, Inc.
THOMASVILLE, Ga., May 16, 2018-- Flowers Foods, Inc., producer of Nature's Own, Wonder, Tastykake, Dave's Killer Bread, and other bakery foods, reported financial results for the company's 16-week first quarter ended April 21, 2018.
CEO's Remarks
"We are pleased with the solid start to the year. We achieved record sales in the first quarter, and made important progress on our strategic priorities, giving us confidence in our ability to meet the objectives we've set for the year," said Allen Shiver, Flowers Foods president and CEO. "Sales growth for the quarter was ahead of expectations, driven by the continued strength of Dave's Killer Bread and the solid performance of our Nature's Own and Wonder brands. In April, we introduced new, artisan-style products under Nature's Own, and initial consumer response has been encouraging."
Mr. Shiver continued, "The restructuring actions we began last year under Project Centennial have empowered our new teams to grow our core brands, improve productivity, and capitalize on opportunities. As we transition to our new organizational model, we are now better able to drive brand growth through new products and innovation, enhance execution in the marketplace, and streamline our supply chain. We remain intensely focused on delivering profitable growth and higher returns on invested capital, and we are moving forward with urgency to optimize our manufacturing network to drive efficiencies and lower manufacturing costs. Through these actions we intend to drive cash flows and shareholder returns."
