Total company CapEx costs to remain high as supply constraints are alleviated. 

Foodservice currently makes up between 13% and 15% of company sales.

Company also creating ‘transformation office’ to review strategies, improve efficiencies and drive growth.

Direct-to-consumer platform has big plans for consumers wanting to make a change.

Laxman Narasimhan will take over in April 2023.

Global economic issues are preventing the company from fully transitioning to new strategy.

Retailer benefits as more consumers trade down.

Retailer inventory replenishment supported quarterly results.

Company plans to reduce its number of distribution centers by 50%.

Uncertainty caused by global events is forcing the company to be more cautious.