The company’s North America Retail business unit had quarterly sales of $3.2 billion during the quarter, flat when compared to the third quarter of fiscal 2022.
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.
Through its PearlRock Partners venture, Kroger is collaborating with MidOcean Partners to form MPearlRock, a firm that will help scale emerging brands.
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.