BOSTON, Sept. 06, 2017 (GLOBE NEWSWIRE) -- As a growth company with protein packed brands and broad innovation capabilities, Tyson Foods, Inc. (NYSE:TSN) occupies a unique space among the top U.S. food companies.
“We believe we are fundamentally different than other food companies,” Sally Grimes, Tyson’s group president, prepared foods, told investors today at the annual Barclays Global Consumer Staples Conference. Grimes said competing effectively in growing spaces has been a primary driver for Tyson Foods.
“Protein has risen to the top of all desired health attributes in food,” she said. “The volume growth for high protein food looks a lot different than growth for food in general. We bring differentiated capabilities to this growth space. We add value, by building brands and innovating continuously in categories consumers want and in categories customers are focused on.”
Grimes said the raw, chilled and freshly prepared foods in the perimeter of the store have become “retail’s growth frontier” as consumers seek fresh, less processed foods, ease and simplicity.
“The perimeter of the store – and what it represents – is the center of our business,” she said. “Our sales growth in the perimeter is 70 basis points ahead of the categories in which we compete and 270 basis points ahead of the total perimeter. A mix advantage and a performance advantage are powerful tailwinds propelling us toward continued growth.”
Tom Hayes, Tyson Foods’ president and chief executive officer, said the company is on track for another record year for earnings as it nears the end of its 2017 fiscal year. “Looking to fiscal 2018, we expect topline sales growth of about 6 percent to approximately $41 billion as we grow volume, improve our sales mix to higher value products and benefit from a full year of AdvancePierre Foods in our portfolio.”
Hayes said sustainability will play a key role in the company’s strategy. “We will work hand in hand with some of the world’s best thought leaders and problem solvers to drive change and develop science-based targets for improvement as we simultaneously solve for healthier food, healthier animals, a healthier environment, a healthier workplace and healthier communities. In doing this, we’ll earn the right to a healthier bottom line.”
Hayes said the company has generated momentum in its sustainability efforts this year, and continued progress will be made through strong business performance, financial fitness and the ability for sustainability initiatives to fund themselves over time.
“We expect to grow volume, sales, profits and our people,” Hayes said. “By delivering results and improving continuously, we’ll sustain the company and the world for future generations.”
About Tyson Foods
Tyson Foods Inc. (NYSE:TSN) is one of the world’s largest food companies and a recognized leader in protein. Founded in 1935 by John W. Tyson and grown under three generations of family leadership, the company has a broad portfolio of products and brands like Tyson®, Jimmy Dean®, Hillshire Farm®, Ball Park®, Wright®, Aidells®, ibp® and State Fair®. Tyson Foods innovates continually to make protein more sustainable, tailor food for everywhere it’s available and raise the world’s expectations for how much good food can do. Headquartered in Springdale, Arkansas, the company has 114,000 team members. Through its Core Values, Tyson Foods strives to operate with integrity, create value for its shareholders, customers, communities and team members and serve as stewards of the animals, land and environment entrusted to it. Visit www.tysonfoods.com.
Forward-looking Statements
Certain information contained in the press release may constitute forward-looking statements, including but not limited to statements relating to (i) consumer preferences and expected demand for certain products that we produce, (ii) our ability to innovate, (iii) expected sales, volume, and sales mix improvements, and (iv) and expected benefits from the company’s sustainability efforts. These forward-looking statements are subject to a number of factors and uncertainties which could cause our actual results and experiences to differ materially from the anticipated results and expectations expressed in such forward-looking statements. We wish to caution readers not to place undue reliance on any forward-looking statements, which speak only as of the date made. Among the factors that may cause actual results and experiences to differ from anticipated results and expectations expressed in such forward-looking statements those factors listed under Item 1A. “Risk Factors” included in our Annual Report filed on Form 10-K for the period ended October 1, 2016 and subsequently filed Quarterly Reports on Form 10-Q and Current Reports on Form 8-K.
To download the free Tyson IR App, which offers access to SEC filings, news releases, transcripts, webcasts and presentations, please visit the App Store for iPhone and iPad or Google Play for Android mobile devices.