Executives said the investments were necessary to keep inventory on shelves amid high demand. Conagra, the company that makes brands including Slim Jim and Pam, snapped into some sales growth in the most recent quarter with net sales up nearly 10% year over year in Q3 to reach more than $2.76 million, which “exceeded our expectations in the quarter,” said President and CEO Sean Connolly. And its retail sales grew almost 14% year over year.
CPG sales generally have been doing well recently. In 2020, CPG sales rose 19%, according to figures from NCSolutions.
But sometimes keeping up with demand means making shifts to the supply chain to keep up. This was seen throughout the last year as companies like Coca-Cola and Mondelez cut SKUs from their offerings to shift production capacity to high-demand products.