- Pinnacle Foods is employing various innovations to attract target customers, including millennials and smaller households. As a result, the company reported a 23% increase from the prior year in net earnings for the second quarter ending June 28.
- Part of these innovations reflect how Pinnacle sees the tastes of consumers changing over time, specifically toward plant-based nutrition, which is well suited for Pinnacle's plant-based flagship brand Birds Eye and late-2014 acquisition Gardein. In the second quarter, Pinnacle released two new product lines, Birds Eye Flavor Full, or flavored vegetable packages, and Birds Eye Protein Blends, side dishes that mix vegetables, legumes, and whole grains.
- Another major Pinnacle brand, Duncan Hines, has released Perfect Size line of baking mixes, which include a cake mix, frosting mix, and disposable six-inch baking pan, meant to satisfy smaller households.
About its new plant-based lines, Pinnacle said it was satisfied with early results from retailers. However, net sales of $278 million represent a 4% dip for Duncan Hines Grocery. The softness in baking could benefit from Pinnacle's push to adapt to changes in lifestyle, such as shrinking household size. Knowing that traditional baking mixes could create too much leftover food for a smaller household, Pinnacle created a smaller portion.