- Susquehanna issued a detailed report on IRI scanner data trends in the food and beverage industry.
- The investment firm noted that soda drink volume fell 2.8% Y/Y for the 12-week period ending on June 5. PepsiCo (NYSE:PEP) volume was down 5%, compared to 1.3% decline for Coca-Cola KO and 1.9% fall-off for Dr. Pepper Snapple (NYSE:DPS-OLD).
- K-cup revenue was up 8% for the 12 weeks as J.M. Smucker (NYSE:SJM). Starbucks (NASDAQ:SBUX), and Dunkin' Brands (NASDAQ:DNKN) all showed strong volume amid ongoing pricing pressure. K-cup sales decelerated for Kraft Heinz (NASDAQ:KHC) and could turn negative if pricing pressure sustains.
- In the yogurt category, scanner data over four weeks confirmed that General Mills (NYSE:GIS) is losing market share to Chobani and Danone (OTCQX:DANOY). Susquehanna tips that Chobani may be prepping for a sale.
- General Mills beat out Kellogg (NYSE:K) in the cereal category as its 12-week sales growth of +2.3% easily topped Kellogg's 2.2% decline.
- Pricing with beer is helping to make up for continued volume pressure. Across the sector, pricing was recorded as 2.5% higher for the 12 weeks of data.
- Beer volume: Anheuser-Busch InBev (NYSE:BUD) -1.8%, MillerCoors (OTCPK:SBMRY, TAP) -2.7%, Boston Beer (NYSE:SAM) -2.1%.
- Susquehann'a Pablo Zuniac put together the deep dive into the scanned data.
- Within the F&B sector, he has BUD, THS, WWAV, TAP, and KHC rated at Positive.