McCormick CEO: Macro Concerns Continue to Weigh on Consumer Confidence
Dow Jones
Yesterday
0800 ET - McCormick continues to operate in a dynamic environment, CEO Brendan Foley says in prepared earnings remarks. "Geopolitical volatility, elevated fuel costs, and persistent inflation continue to influence consumer confidence and spending," he says. "In the U.S., higher gas prices and the Cyclospora outbreak have added pressure and contributed to softer traffic across foodservice and grocery channels." Within this environment, consumers are looking for practical ways to manage budgets, Foley says, including using what's in their pantries, repurposing leftovers and seeking simple, affordable ways to add flavor at home.
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