USA – Hormel Foods, a Minnesota-based company known for its iconic canned goods, has teamed up with Cinnamon Toast Crunch to unveil a unique product: a sweet-and-savory bacon offering.
The new creation, blending Hormel’s Black Label Bacon with General Mills’ Cinnamon Toast Crunch cereal, will bring together the savory taste of thick-cut bacon and the sweet flavor of the cereal’s “Cinnadust” seasoning.
The limited-edition product, available starting September 16 at select Walmart stores, involves hand-rubbing the bacon with the cinnamon sugar mixture, which is then left overnight to intensify the flavors.
The product will also be rolled out at select Kroger locations in the following weeks, though supplies will be limited.
According to Brandon Tyrrell, senior marketing manager for Cinnamon Toast Crunch, the combination of sweet and salty was a natural fit, stating that their Cinnadust seasoning gives fans another way to enjoy the flavors they love.
The launch comes at a time when Hormel is trying to recover from a financially challenging period.
In its third-quarter report for the fiscal year 2024, the company revealed earnings per share (EPS) of US$0.40, falling short of market expectations.
Hormel also reported a 2.3% drop in net sales, which totaled US$2.96 billion, while its net income for the quarter stood at US$162.7 million.
Despite aligning with EPS forecasts, the company’s overall revenue for the quarter, US$2.9 billion, represented a 2.2% decline, which missed analysts’ projections.
Hormel’s stock subsequently fell by more than 7%, leaving the company in negative territory for the year.
In response to the disappointing results, Hormel adjusted its full-year revenue forecast, lowering the estimate to a range of US$11.8 billion to US$12.1 billion, down from the previous forecast of US$12.2 billion to US$12.5 billion.
Its earnings per share expectations were also revised slightly, now expected to be between US$1.57 and US$1.63.
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