CHICAGO — Duncan Hines’ innovation in 2020 will feature refreshed packaging, keto-friendly cakes and co-branding with Oreo.
“We’re also making great progress on our work to reframe Duncan Hines as a sweet treat to unlock significant growing demand spaces,” said Sean M. Connolly, president and chief executive officer of Conagra Brands, in a Dec. 19 earnings call to discuss second-quarter financial results. “Our strategy includes refreshed packaging, fun and novel flavors, and new shelf-stable and frozen snacking platforms.”
Work on shelf-stable baking mixes in the first half of the fiscal year resulted in share gains as the holiday baking season kicked off, he said.
“We’re building on this momentum by introducing more innovation in the second half, including on-trend, keto-friendly cakes and co-branded Oreo cake cups,” Mr. Connolly said.
The Duncan Hines brand was part of Conagra Brands’ acquisition of Pinnacle Foods completed in October 2018. Net sales for Chicago-based Conagra Brands in the second quarter ended Nov. 24 increased 18% to $2,820.8 million, which compared with $2,383.7 million in the second quarter of the previous year. Pinnacle Foods accounted for a 20% sales increase, but a 2.9% net decrease came from business divestitures. Organic net sales increased 1.6%. Net income of $260.5 million, or 53c per share on the common stock, was up 98% from $131.6 million, or 31c per share, in the second quarter of the previous year.