The firm performed below expectations in its first full financial year and at the Consumer Analyst Group of New York (CAGNY) conference it laid out its growth strategy for North America, which accounts for 20% of the company’s total sales.
The North American business
Mark Clouse, president of Mondelez’s North America business, said: “Our first objective is to deliver sustainable revenue growth and outpace our competitors. This means growing at or above the category.”
Reported net revenues for Mondelez in North America increased 1.3% in fiscal 2013. The company’s sales were below the rate of growth in most of its operating categories.
In calendar 2013, the overall biscuit sector in North America grew value sales by 2.6%, chocolate and candy both grew 3.3%, while gum declined 2.8%, according to Euromonitor International data.