Conagra Brands CEO: ‘E-commerce is the way of the future, we can ship frozen to your house’
Yahoo Finance’s Alexis Christoforous and Brian Sozzi speak to Sean Connolly to break down the results, discuss innovation, rise of e-commerce and much more. You know, I always thought about the '50s, '60s, and '70s being the golden age of packaged food, but I just came off your conference call a couple days ago, and I'm thinking there's a new golden age of packaged food. How would you characterize it? ALEXIS CHRISTOFOROUS: Hey, Sean, outside of frozen foods, I just have to ask because I'm curious, I know that you also sell sunflower seeds. And I know that there is a new rule with baseball coming back sort of in this truncated way because of the pandemic, they've also said there is no spitting of tobacco or sunflower seeds, as we see a lot of the players do, because of the pandemic. How does that impact your business, if at all? We build out a pipeline, so we've got three years of innovation constantly on a rolling queue, and we like what we see not only from what we launched last year, but this year and even next year. So innovation is really the lifeblood of keeping iconic brands modern and fresh, because consumer tastes are always changing, even in a pandemic environment. For example, we're seeing maybe less near-term focus on health and wellness, more on indulgence. And you see brands like Duncan Hines bake mix is really seeing sales levels through the roof that we haven't seen in a long, long time.