Anderson and Truco Enterprises on the first day of fiscal 2019.
VISIT DATE IN FIREFOX 40.0.3 PRO
Pro Forma Net Sales assumes the Company owned Kennedy Endeavors, Kitchen Cooked, H.K. Pro Forma Net Sales increased 6.8% on a comparable 13-week basis to $268.6 million versus $251.5 million for the fourth quarter of 2019. The 22.1% increase in net sales for the fourth quarter of 2020 was driven by acquisitions of +10.6%, the additional week of +7.9%, volume gains of +4.1%, and favorable price/mix of +1.0%, partially offset by our continued shift to independent operators (“IO”) and the resulting increase in sales discounts of 1.5%. The Company’s fourth quarter 2020 results benefited from the impact of the 53rd week in fiscal 2020 and estimates the “extra week” contributed approximately $16 million in net sales. Net sales for the 14-week fourth quarter of 2020 increased 22.1% to $246.3 million compared to $201.8 million for the 13-week fourth quarter of 2019. See description of Non-GAAP financial measures mentioned in this press release and reconciliations of GAAP measures to Non-GAAP adjusted measures in the tables that accompany this release. (2) IRI does not include Partner Brands and Private Label retail sales. (1) Source: IRI Custom Panel, Total US MULO + C, 13-weeks and 52-weeks ended % YoY growth compared to the comparable period in the prior year on a pro forma basis. IRI Retail Sales YoY Growth Highlights (1) Conversely, our Power Brands have a stronger presence in the large format channels which continued to perform well during the quarter. The retail sales decline of 1.2% in Foundation Brands reflects our strategy to focus on our Power Brands, and softness in the convenience channel primarily due to COVID-19. Our IRI retail sales growth exceeded our pro forma net sales growth due primarily to the impact of unmeasured channels and the increase in IO discounts.įor the 13-week period ended December 27, 2020, Power Brands retail sales growth of 11.1% was led by Utz®, ON THE BORDER®, Zapp’s®, TORTIYAHS!®, Golden Flake® Pork Skins and Boulder Canyon® brands. (3) See description of Non-GAAP financial measures and reconciliations of GAAP measures to Non-GAAP adjusted measures in the tables that accompany this release.įourth Quarter and Full-Year 2020 Growth Highlightsįor the 13-week period ended December 27, 2020, our retail sales as measured by IRI MULO-C increased 9.3%, significantly above the total salty snack category growth of 7.1%, as we continued to perform well across most product sub-categories, channels and geographies. Pro forma net sales are on an estimated comparable 13-week and 52-week basis.
(2) Assumes the Company owned Kennedy Endeavors, Kitchen Cooked, H.K. A reconciliation of the combined predecessor period can be found in the tables accompanying this release. (1) Combined predecessor period of Decemthrough Augand successor period of Augthrough January 3, 2021. “Looking ahead, we remain excited about our opportunity for continued long-term profitable growth, as we actively deploy our value creation strategies for the benefit of our stockholders.”įourth Quarter and Full-Year 2020 Financial Highlights Despite the challenges of the pandemic and the demanding environment for our team, we reacted quickly and put protocols in place to protect our associates and customers, which enabled us to deliver these strong results,” said Dylan Lissette, Chief Executive Officer of Utz. Growth was led by our Power Brands and we added three million more buyers during the year. Salty Snacks and one of the fastest growing salty snack platforms of scale. We began our new chapter as a publicly traded company, and we delivered double-digit retail sales growth, making Utz the #3 brand platform in U.S. “2020 was a transformational year for Utz. manufacturer of branded salty snacks, today reported financial results for the Company’s 14-week fiscal fourth quarter and 53-week fiscal 2020 ended January 3, 2021. (NYSE: UTZ) (“Utz” or the “Company”), a leading U.S. HANOVER, Pa.-( BUSINESS WIRE)-Utz Brands, Inc.
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