0900 ET - Spice maker McCormick says consumers remain challenged and are on the lookout for value. Big food companies have been struggling to boost sales after pushing through significant price increases in recent years, resulting in share losses in grocery stores. McCormick says pressure is easing somewhat on mid- and higher-income consumers, though all shoppers are looking for value, as evidenced by ongoing demand for larger sizes. McCormick CEO Brendan Foley says consumers trying to stretch their budgets and eat healthier are cooking more and shopping for produce and protein in supermarket perimeters, which he said fuels demand for the company's flavors. (jesse.newman@wsj.com)
(END) Dow Jones Newswires
January 23, 2025 09:00 ET (14:00 GMT)
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