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PUMPED UP ON PRIVATE LABELS; TreeHouse Foods cashing in as beleaguered shoppers opt for cheaper store brands.(Markets)
- Article from:
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Crain's Chicago Business
- Article date:
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June 30, 2008
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Copyright informationCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: DAVID STERRETT
TreeHouse Foods Inc. is getting fat on grocery shoppers' growing appetite for bargains.
Shares of the Westchester-based maker of store-brand pickles, salad dressings and soups for major chains such as Kroger Co., Supervalu Inc. and Wal-Mart Stores Inc., are up 5% this year, compared with a decline of 8% for Standard & Poor's small-cap consumer staples index. Consumers hit by record gasoline prices are favoring cheaper, "private-label'' store brands, helping TreeHouse outperform Kraft Foods Inc. and other larger rivals.
"TreeHouse is one of the best-positioned companies to benefit from a trade-down, based on the categories they compete in,'' ...