Dive Brief:
- ConAgra is altering some of its strategies as it seeks to find growth, according to comments the CEO made to an industry conference.
- Among the initiatives: working with retailers to cross-promote store brands with recognized brands at the meal level, i.e, displaying Hunt's tomato sauce with store-brand pastas. .
- The company is also backing away from attempts to sell some of its lagging, older brands like Healthy Choice and Chef Boyardee to Gen Y and will instead seek to boost sales to older consumers.
Dive Insight:
CEO Gary Rodkin's presentation to the Consumer Analysts Group of New York comes just days after ConAgra warned that the company faced significant challenges.
Based on what we've read about Rodkin's comments, it would seem the company has a pretty good plan to address the problems it faces. We're particularly pleased to see ConAgra seems to have given up on the silly attempt to get millennials to embrace some of the less-than-appealing foods of their grandparents (Chef Boyardee!).
Rodkin's comments appear to be a good start, but the road ahead looks mighty tough to us.