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SJM - Mondelez: Staying On Course During The Pandemic
J.M. Smucker Company
As a global business, Mondelez (MDLZ) has been significantly impacted by the COVID-19 pandemic closures. The company was one of the worst hit large food businesses due to its significant exposure to Emerging Markets and products sold through travel retail channels.
Although profitability declined over the past two quarters, during the pandemic Mondelez expanded its market share in key product categories, such as biscuits and chocolate, and in its most profitable geography - North America. Thus, in spite of the short-term pain, the pandemic could provide a much needed boost