A softening of food demand was to be expected in 2023 given the magnitude of food price inflation experienced over the past two years, said Nestle's CEO.
An update on the impending process was shared by Flowers executives in connection with financial results for the fourth quarter of 2023 and guidance for 2024.
After softening in the first quarter, Ardent Mills earnings rebounded in the second. Conagra said higher earnings were generated at Ardent Mills despite weaker volumes.
In the case, Flowers Foods contends that arbitration agreements signed by two of its independent distributors are binding while the distributors claim that a provision in the 1925 Federal Arbitration Act makes the arbitration agreement unenforceable.
A marked downtrend in the business outlook for bakery equipment manufacturers emerged in the second quarter of 2023, according to data from the BEMA Intel Member Pulse Survey.