• Net sales drop on own label
  • EBITDA dips on central costs
  • Net rises on lower finance expense

US baker Flowers Foods booked a mixed first quarter today (28 May), with lower sales and operating profit but higher net earnings.

The company said sales were down 0.7% to US$1.14bn. Gains in branded sales – up 1% – were offset by a 9.6% drop in store-brand retail sales. Flowers said it is focused on "profitable growth" and is shifting its product mix to higher margin lines in branded retail and foodservice.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

EBITDA was up in both Flowers' direct store delivery and warehouse units. However, a jump in head office expenses meant that group EBITDA dropped 0.8% to $136.4m. Net earnings edged up slightly on lower interest expenses, rising to $136.4m from $137.5m.

Click here to view the full earnings update.