Latest news with #Ore-Ida
Yahoo
30-04-2025
- Business
- Yahoo
The Kraft Heinz Co (KHC) Q1 2025 Earnings Call Highlights: Strong Cash Flow and Strategic ...
Top Line Results: Delivered in line with expectations. Cash Flow Performance: Strong performance reported. Balance Sheet: Described as healthy. Release Date: April 29, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. The Kraft Heinz Co (NASDAQ:KHC) delivered top-line results in line with expectations, demonstrating strong cash flow performance and maintaining a healthy balance sheet. The company is prioritizing investments in marketing, R&D, and technology to enhance consumer-facing marketing and optimize brand and media allocation for better ROI. KHC is scaling up its brand growth system, which has shown success in previous pilots, to cover 40% of its business by the end of the year. The company is seeing growth in emerging markets and expects improvement in key product categories like cream cheese and Ore-Ida in the upcoming quarters. KHC is actively managing costs and exploring alternative sourcing and reformulation to mitigate the impact of tariffs and inflation on COGS. The revised outlook includes a wider operating income guide due to uncertainties in the policy landscape and macroeconomic conditions. KHC is facing increased COGS inflation, particularly in commodities like coffee and meats, with an expected impact of 150 to 200 bps due to tariffs. The company anticipates gross margin pressure in Q2 due to increased promotional activity, hedge losses, and commodity price peaks. Despite investments, KHC's market share performance has been under pressure, with some categories showing softness. The company does not expect North America volume to inflect positively in the second half, relying instead on international growth to meet guidance. Warning! GuruFocus has detected 3 Warning Sign with KHC. Q: Carlos, you mentioned the revised outlook provides flexibility for investments. Is this approach different from previous ones? A: Carlos Abrams-Rivera, CEO: We are choosing to play offense with discipline, prioritizing investments in marketing, R&D, and technology. We are focusing on consumer-facing marketing and optimizing allocation across brands for better ROI. Our brand growth system, which has been successful in pilots, is being scaled up, giving us confidence in our investment strategy. Q: Can you elaborate on the North America organic sales guidance update for this year, particularly for 2Q? A: Carlos Abrams-Rivera, CEO: We expect 2Q top line to be better than 1Q, with a tailwind from Easter timing. Emerging markets are accelerating, and platforms like cream cheese and Ore-Ida are expected to grow. Lunchables will improve as new innovations hit the market. Q: How are you addressing COGS inflation in the revised outlook? A: Carlos Abrams-Rivera, CEO: We had inflation at 3%, now stepped up to 5% due to commodities like coffee and meats. Tariffs add 150-200 bps to COGS, mostly impacting the second half. We are managing this through inventory builds and alternative sourcing. Q: Can you discuss your promotional strategy and its impact on market share? A: Carlos Abrams-Rivera, CEO: We are investing in promotions strategically to support long-term growth, focusing on key consumer periods like Memorial Day and back-to-school. Our strategy is to drive profitable growth, not just short-term volume. Q: What are the bright spots in your portfolio from a market share perspective? A: Carlos Abrams-Rivera, CEO: We are seeing progress in accelerated businesses like ready-to-eat meals and snacking. Innovations like our Philadelphia Cream Cheese and desserts are driving growth. Our focus on better-for-you products and consumer insights is yielding sustainable growth. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
28-03-2025
- Entertainment
- Yahoo
Gosh! 'Napoleon Dynamite' star Jon Heder dishes out tater tots ahead of BYU's Sweet 16 game
NEWARK, N.J. (AP) — Napoleon Dynamite served tater tots on a plate instead of stuffing them in his pocket — and threw his Sweet 16 vote behind BYU. Actor Jon Heder — who starred as the tots-obsessed title character in the cult comedy classic 'Napoleon Dynamite' — appeared with a tray of tots before BYU was set to play Alabama in the Sweet 16 of the NCAA Tournament on Thursday night. Heder was set to meet with BYU's Richie Saunders, a descendant of the man who invented tater tots and made them the hottest snack during March Madness. 'I'm here to support BYU, to support tots around the world,' Heder said. Saunders and his tots roots — his great-grandfather, F. 'Nephi' Griggs, is the founder of Ore-Ida — has become one of the surprise stories during a tournament largely devoid of bracket-busting upsets. Saunders has cashed in with an endorsement deal that stuck him in advertisements, and Ore-Ida dishes out the crispy sides for free when BYU wins in March Madness. Ore-Ida ceremonially changed its name to Ore-Richie for the length of BYU's run in the tournament in tribute to Saunders, and the company was giving away free tots nationwide from tipoff to the final buzzer of BYU's Sweet 16 game. If the Cougars win their first national championship — they are 80-1 long shots, per BetMGM Sportsbook — Ore-Ida will release a new limited-edition offering: 'Richie's Tater Shots,' inspired by Saunders' jumper. Saunders became the most popular potato pitchman since Napoleon Dynamite. In 'Napoleon Dynamite,' Heder's curly-haired, socially awkward character ultimately triumphs over the high school jocks and cheerleaders because of his quirks, rather than in spite of them. The movie spawned the 'Vote for Pedro' T-shirt and made Napoleon's disgusted version of 'Gosh!' into a catchphrase. It also celebrates the unabashed love of tater tots by Napoleon, who stuffs the deep-fried nuggets into his pockets and eats them while in school. 'Napoleon, give me some of your tots,' one of his classmates barks. Heder went on to star with Will Ferrell in 'Blades of Glory' in 2007, among other movies. But no role has defined the 47-year-old actor — who wore an Ore-Ida T-shirt at the Prudential Center — quite like Napoleon Dynamite. 'I have a connection to tots that harkens back to 20 years ago," he said. 'Before that time, I also went to BYU. We're at a crossroads right now where my childhood meets my education meets my professional life. It kind of makes sense for me to return to the middle of the crossroads, to meet the devil again and make some new deals.' That deal included a hopeful BYU victory. 'If they win,' Heder said, 'I know it's because of me.' ___ AP March Madness bracket: and coverage: Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. Dan Gelston, The Associated Press
Fox Sports
28-03-2025
- Entertainment
- Fox Sports
Gosh! 'Napoleon Dynamite' star Jon Heder dishes out tater tots ahead of BYU's Sweet 16 game
Associated Press NEWARK, N.J. (AP) — Napoleon Dynamite served tater tots on a plate instead of stuffing them in his pocket — and threw his Sweet 16 vote behind BYU. Actor Jon Heder — who starred as the tots-obsessed title character in the cult comedy classic 'Napoleon Dynamite' — appeared with a tray of tots before BYU was set to play Alabama in the Sweet 16 of the NCAA Tournament on Thursday night. Heder was set to meet with BYU's Richie Saunders, a descendant of the man who invented tater tots and made them the hottest snack during March Madness. 'I'm here to support BYU, to support tots around the world,' Heder said. Saunders and his tots roots — his great-grandfather, F. 'Nephi' Griggs, is the founder of Ore-Ida — has become one of the surprise stories during a tournament largely devoid of bracket-busting upsets. Saunders has cashed in with an endorsement deal that stuck him in advertisements, and Ore-Ida dishes out the crispy sides for free when BYU wins in March Madness. Ore-Ida ceremonially changed its name to Ore-Richie for the length of BYU's run in the tournament in tribute to Saunders, and the company was giving away free tots nationwide from tipoff to the final buzzer of BYU's Sweet 16 game. If the Cougars win their first national championship — they are 80-1 long shots, per BetMGM Sportsbook — Ore-Ida will release a new limited-edition offering: 'Richie's Tater Shots,' inspired by Saunders' jumper. Saunders became the most popular potato pitchman since Napoleon Dynamite. In 'Napoleon Dynamite,' Heder's curly-haired, socially awkward character ultimately triumphs over the high school jocks and cheerleaders because of his quirks, rather than in spite of them. The movie spawned the 'Vote for Pedro' T-shirt and made Napoleon's disgusted version of 'Gosh!' into a catchphrase. It also celebrates the unabashed love of tater tots by Napoleon, who stuffs the deep-fried nuggets into his pockets and eats them while in school. 'Napoleon, give me some of your tots,' one of his classmates barks. Heder went on to star with Will Ferrell in 'Blades of Glory' in 2007, among other movies. But no role has defined the 47-year-old actor — who wore an Ore-Ida T-shirt at the Prudential Center — quite like Napoleon Dynamite. 'I have a connection to tots that harkens back to 20 years ago," he said. 'Before that time, I also went to BYU. We're at a crossroads right now where my childhood meets my education meets my professional life. It kind of makes sense for me to return to the middle of the crossroads, to meet the devil again and make some new deals.' That deal included a hopeful BYU victory. 'If they win,' Heder said, 'I know it's because of me.' ___ AP March Madness bracket: and coverage: Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. recommended in this topic
Yahoo
27-03-2025
- Sport
- Yahoo
March Madness Gets Crispy: Ore-Ida Teases 'Richie's Tater Shots'
Ore-Ida Richie Saunders of BYU is having a March to remember. The BYU standout isn't just making noise on the court, he's claiming his crown as the 'Tot King,' earning national attention for both his game and his golden family legacy. As the great-grandson of F. 'Nephi' Griggs, inventor of the Tater Tot and founder of Ore-Ida, Saunders has turned a viral nickname into a full-blown NIL partnership with the frozen food giant. Advertisement And now, as BYU advances to the Sweet 16, Ore-Ida is going all in with a campaign that blends basketball history, family heritage, and some seriously crispy fanfare. Richie Saunders Leads BYU's Historic Run To Sweet 16, Earns 'Tot King' Crown Ore-Ida Saunders has been instrumental in BYU's historic postseason run. He led the Cougars in scoring during the Big 12 Tournament quarterfinals, helping the team set a new tournament record and reach the semifinals for the first time in program history. Their momentum didn't stop there, BYU's latest win marks their fourth consecutive victory over a Top 25 opponent, the school's longest such streak since 1951. Advertisement With a Sweet 16 berth secured and a hot hand on the court, Saunders is living up to the "Tot King" title in every sense, and Ore-Ida is celebrating accordingly. Ore-Ida Partners With BYU's Richie Saunders For Free Tots Promo Just hours ahead of BYU's win over VCU, Ore-Ida revealed its partnership with Saunders in a post on X, the social media platform formerly known as Twitter. "We're teaming up with basketball hotshot Richie Saunders, the great-grandson of Ore-Ida founder and inventor of Tater Tots, to give away free tots if Richie's team wins today," the company wrote in a press release sent to The Blast. "If they win, the countdown for our 30-minute 'Tot Clock' will begin at the link in our IG bio post-game." Advertisement Following any Cougars victory, Ore-Ida activates a 30-minute 'Tot Clock,' giving fans half an hour to visit the link in the brand's Instagram bio and claim a free Ore-Ida Tater Tots product. 'TATER TOTS!' Chant Echoes After BYU Win As Richie Saunders Embraces Viral Nickname Ore-Ida Tater Tots had their moment in the spotlight during Thursday's CBS broadcast, with Dana Jacobson featuring a short segment on Saunders' viral nickname. After BYU's big win, the celebration continued as his teammates greeted him in the locker room with enthusiastic chants of 'TATER TOTS!' 'Isn't that hilarious, man,' he told BYUtv Sports Nation after Thursday's game. 'It's been a cool little thing, but it's been funny. The stadium was yelling 'Tater Tots' at me and stuff. I wouldn't have even dreamed of that happening to be honest. It's hilarious.' Advertisement BYU's victory marked the program's first trip past the opening round of the NCAA Tournament since 2011. 'It means so much,' Saunders told reporters, according to the Salt Lake Tribune. 'We've had such ups and downs this season, but we're not ready to be done yet.' Ore-Ida Unveils Tot-Worthy Campaign Ore-Ida Leading into Thursday night's high-stakes game, Ore-Ida is honoring its founding family's star athlete with several major moves. First up, limited-edition tots. If BYU wins the NCAA Tournament, Ore-Ida will release a brand-new, limited-edition product: 'Richie's Tater Shots,' inspired by Saunders' smooth jump shot. It would be the brand's first limited-edition Tater Tot in over two decades and the first to ever feature an athlete on the packaging. Advertisement Plus, in a first for the company, Ore-Ida will temporarily rebrand itself as Ore-Richie beginning Thursday, March 27. The playful renaming will remain in effect for as long as BYU continues its March Madness run. Free Tots For All Ore-Ida To mark BYU's deepest tournament run in nearly 15 years, Ore-Ida is extending its beloved Tot Clock. Win or lose, fans across the U.S. can claim free Tater Tots during Thursday's game, from tip-off to the final buzzer (approximately four hours). Redemption details will be available via links in Ore-Ida's social media bios. While the spotlight shines on Saunders' tournament performance, his journey is also a tribute to tradition. From swishing threes to honoring a family invention that changed freezer aisles forever, the BYU guard is proving that greatness runs deep, both in bloodlines and brackets. Advertisement Whether or not BYU brings home the championship, one thing's certain: March has a new king, and his throne is golden and crispy. Fans can tune in Thursday, March 27, at 7:09 PM ET to cheer on the "Tot King."
Fox Sports
26-03-2025
- Sport
- Fox Sports
Jump on the tot train! BYU's Richie Saunders becomes tater tot king on way to Sweet 16
Associated Press NEWARK, N.J. (AP) — Some players thrive in a pressure cooker. BYU's Richie Saunders prefers the deep fryer. The hard-nosed forward who fueled BYU's run to the Sweet 16 is a descendant of the man who invented tater tots. Saunders has cashed in with an endorsement deal that stuck him in advertisements and dishes out the crispy sides for free when BYU wins in the NCAA Tournament. BYU is hungry for more. 'When all you eat is tater tots,' Saunders said, 'it definitely makes it easier.' The comfort food staple has snagged a place on the school lunch tray at BYU. BYU coach Kevin Young was amazed it took so long for tots to find their way onto the menu. Saunders has partnered with frozen food brand Ore-Ida -- make that Ore-Richie for the length of BYU's run in the tourney -- to become the most popular potato pitchman since Napoleon Dynamite. The Cougars dig in on the crispy snack every chance they get, from ones who grew up eating them with hamburgers and hot dogs, to first-time consumers. 'It was good. It's potato, I guess,' Russian native and five-star recruit Egor Demin said. 'I found out that it's potato. I always thought it's something sweet.' BYU has become the tot of the town during March Madness as it reached the Sweet 16 for the first time since Jimmer Fredette took them there in 2011. The Cougars haven't played in a regional final since 1981 and could get there with a win Thursday against second-seeded Alabama at the Prudential Center in New Jersey. Saunders and his tots roots — his great-grandfather, F. 'Nephi' Griggs, is the founder of Ore-Ida — has become one of the surprise themes during a tournament largely devoid of bracket-busting upsets. Saunders is quick to note that, yes, tater tots have suddenly become big business for the Big 12's Most Improved Player, but more than carb-loading has BYU still alive in March. BYU plays fast, with an emphasis on 3-point shots, where BYU ranks 23rd in the nation in attempts, and on easy buckets in the paint, which has helped it move to 10th in the KenPom offensive efficiency rankings. 'I think the reason we're here is to play basketball,' Saunders said. 'You win (at) basketball, good things happen off the court.' The good fortune has been no small potatoes for Saunders. Ore-Ida not only ceremoniously changed its name in tribute to Saunders, the company is giving away free tots nationwide from tipoff to the final buzzer of BYU's Sweet 16 game. If the Cougars win their first national championship — they are 80-1 longshots, per BetMGM Sportsbook — Ore-Ida will release a new limited-edition offering: ' Richie's Tater Shots,' inspired by his jumper. 'It's been a super-fun partnership,' Saunders said. 'It's been so random, but so awesome. They've been super good.' Saunders' connection to the tot blew up during the Big 12 Tournament and the story followed him last weekend to Denver where BYU beat VCU and third-seeded Wisconsin. Saunders — averaging 20.5 points, 5.5 rebounds, and 1.5 assists in the tournament — not only studied the game plan, he took a potato pitch. 'I think Ore-Ida has done a really good job because they jumped on the ship real quick,' he said. 'They flew a team to Denver when we were there. I think a lot of it is up to them if they want to try to cash in just like I feel like they have. Tater tots have been sold out in Utah County this whole week.' While some coaches might have worried about the tots becoming a distraction, Young told his players to embrace all the new opportunities in the NIL world. 'Balancing all that has been interesting, especially during a time like this where your focus needs to be so high,' Saunders said. "Usually, I like to just kind of segment myself. I'm going to worry about NIL and all that stuff after the season. (Young) has kind of helped me, for example, being a professional basketball player, you have to have these kind of conversations during the season.' This is just the tip of the tot at BYU: Win or lose against the Crimson Tide, the Cougars will be joined next season by AJ Dybantsa, the nation's top recruit who made a splash this season when he signed a NIL deal with BYU reportedly worth between $5 million and $7 million. Not everyone is pro spud: Three-time AP NFL Defensive Player of the Year JJ Watt — who starred in college at Wisconsin — wrote on social media that he was ' boycotting tater tots for the next 48 hours' after BYU topped the Badgers last weekend. That's good news in Utah and all the BYU spec-taters. More tots for everyone else! 'It's kind of funny to have tater tots kind of be like the whole thing with the whole team now,' BYU guard Trevin Knell said. 'Every time we go to team meals, we're always joking about, where's the tater tots. But shout-out to Richie and his great-grandpa, honestly.' ___ AP March Madness bracket: and coverage: Get poll alerts and updates on the AP Top 25 throughout the season. Sign up here. recommended
