Tastykake Parent Company Says Its Bakeries Have Potential For Long-Term Growth

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Flowers Foods, parent company of Oxford’s Tastykake bakery, says its well-known brands and efficient bakeries are remaining competitive in direct store delivery of cakes and baked goods.

Tastykake bakes nearly 100 varieties of snack cakes at its bakeries in Philadelphia and Oxford.

The company just reported financials for its 12-week third quarter ended Oct. 4, 2014. Allen Shiver, president and CEO, said sales of branded breads, buns and rolls were up 1.4 percent, but overall direct store delivery sales declined due to continued pressure from competition from store-branded products.

“Even though we are not immune from the headwinds facing the food industry, we believe that our category is stable and our long-term growth prospects are encouraging,” Shiver said. “Flowers Foods possesses well-known brands, efficient bakeries, and a team with the experience to find opportunities to grow while maintaining a secure financial position.”

Thomas Foods has sold three Hostess bakeries and 16 warehouses this year, gaining  proceeds of $18.4 million.

Overall, third quarter sales decreased 3.3 percent from the third quarter last year.  The company offered lump-sum pension payouts to some former employees to save costs. The most recent full financial report is at www.flowersfoods.com

Links:   www.flowersfoods.com    www.tastykake.com 

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