Flowers Foods Q4 2013 Sales Up 12.6 Percent, Full-Year Up 23.1 Percent

Flowers Foods, Inc. reported results for the fourth quarter and fiscal year ended Dec. 28, 2013. For the 12-week fourth quarter of 2013, sales increased 12.6 percent to $843.6 million compared to $749.4 million in last year's fourth quarter. This increase was attributable to increased volume of 6.3 percent, positive price/mix of 3.6 percent, and contributions from the Sara Lee/California acquisition of 2.7 percent. Dollar sales and volume increased across all channels. Increases in the white bread, soft variety, bakery deli, buns and roll, and single-serve cake categories primarily drove volume increases in the branded retail channel. These increases were partially offset by decreases in the multi-pack cake category. Volume increases in the store brand channel were driven by increases in the white bread, buns and rolls and variety bread categories. The non-retail channel volume increases were primarily in the vending, foodservice and restaurant categories. The positive net price/mix was primarily driven by the branded retail channel.

Sales for fiscal 2013 increased 23.1 percent to $3.751 billion from the $3.046 billion reported for fiscal 2012. This increase was attributable to increased volume of 16.8 percent, contributions from the Lepage Bakeries and Sara Lee/California acquisitions of 6.2 percent, and positive price/mix of 0.1 percent. The company completed its first 12-month period with the Lepage Bakeries acquisition in the first week of the third quarter. Dollar sales and volume increased across all channels. Increases in the soft variety, white bread, buns and rolls and single-serve cake categories primarily drove volume increases in the branded retail channel. Volume increases in the store brand channel were driven by increases in the white bread, buns and rolls, and variety bread categories. The non-retail channel volume increases were primarily in the foodservice, vending and restaurant categories. Full report.

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