Kristalina Georgieva said the IMF was “concerned” about the growth of private credit lenders, which she said now accounts for “more than half of financing”.The head of the International Monetary Fund (IMF) said the thought of a crisis in the shadow banking sector keeps her “awake at night” after the recent collapses of heavily indebted firms.That’s all for today but you can read all the latest business and economics stories here .Thanks for joining us on this live blog.He said: “I don’t really understand wh ...

Company Overview - Lamb Weston Holdings, Inc. is a leading supplier of frozen potato, sweet potato, appetizer, and other vegetable products, with a market cap of $7.7 billion [1] - The company primarily serves foodservice, restaurant, and retail customers, offering products such as frozen fries, hash browns, wedges, and specialty potato items [1] Market Position - Lamb Weston is classified as a mid-cap stock, with its market cap exceeding $2 billion, highlighting its size and influence in the packaged food industry [2] - The company holds a market leadership position in frozen potato products and has an extensive global distribution network, allowing efficient service to major foodservice chains and retail customers [2] - Its focus on product innovation, consistency, and customer partnerships enhances its reputation as a trusted supplier in both domestic and international markets [2] Stock Performance - Shares of Lamb Weston have decreased by 34.1% from their 52-week high of $83.98, reached on December 16, 2024 [3] - Over the past three months, shares have gained 3.4%, underperforming the Dow Jones Industrial Average's return of 9.9% during the same period [3] - In the longer term, shares have fallen 15.4% over the past 52 weeks, lagging behind the Dow Jones Industrial Average's 10.3% increase [4] - Year-to-date, shares are down 17.2%, compared to the Dow Jones Industrial Average's 9% rise [4] Recent Earnings - On July 23, shares of Lamb Weston surged 16.3% following a better-than-expected Q4 earnings release [5] - The company reported a 4% year-over-year increase in net sales to $1.7 billion, surpassing consensus estimates by 5.7% [5] - Adjusted EPS of $0.87 improved by 11.5% from the previous year, exceeding analyst expectations by 35.9% [5]

Company Overview - The Campbell's Company (CPB) is based in Camden, New Jersey, and specializes in manufacturing and marketing food and beverage products both domestically and internationally. The company has a market capitalization of nearly $10 billion, categorizing it as a large-cap stock within the packaged food industry [1]. Stock Performance - CPB stock has experienced a significant decline of 34.8% from its 52-week high of $51.01 reached on September 23, 2024. In contrast, the stock has seen a modest increase of 4.4% over the past three months, which is notably lower than the Nasdaq Composite's 17.2% increase during the same period [2]. - Over a longer timeframe, CPB's stock has dropped 20.6% in 2025 and 35.1% over the past 52 weeks, underperforming the Nasdaq Composite's 18% increase in 2025 and 27% increase over the past year. The stock has consistently remained below its 200-day moving average since November of the previous year, although it has recently climbed slightly above its 50-day moving average [3]. Financial Results - Following the release of better-than-expected Q4 results on September 3, Campbell's stock prices rose by 7.2%. The company's overall topline revenue was reported at $2.3 billion, reflecting a year-over-year increase of 1.2%, which was mostly in line with market expectations. However, the adjusted EPS decreased by 1 cent from the previous year to $0.62, surpassing consensus estimates by 8.8% [4]. Peer Comparison - Compared to its peer, Hormel Foods Corporation (HRL), Campbell's has performed slightly better, with HRL experiencing a 22.5% decline in 2025 and a 23.5% decline over the past year. Among the 19 analysts covering CPB stock, the consensus rating is a "Hold," with the stock trading slightly below its mean price target of $33.83 [5].

Group 1 - General Mills, Inc. (NYSE:GIS) is recognized as one of the 13 best high dividend stocks to buy under $100, with a market capitalization of nearly $27 billion, indicating its significant presence in the consumer staples sector [1][2] - The company specializes in packaged food products and has the ability to compete effectively in distribution, R&D, and marketing due to its scale, positioning it as a potential industry consolidator [2] - A notable acquisition by General Mills was Blue Buffalo, a leading natural pet food brand, which has allowed the company to strengthen its pet-food business through additional smaller deals [3] Group 2 - On June 25, General Mills declared a 1.7% increase in its quarterly dividend to $0.61 per share, marking the fifth consecutive year of dividend growth, and it has been paying regular dividends for 127 years [4] - The stock currently has a dividend yield of 4.89% as of September 18, highlighting its attractiveness to income-focused investors [4]

Group 1 - General Mills has a unique dividend history, with only five annual increases but an uninterrupted dividend payment record of 127 years [1][7] - The company offers a high dividend yield of 4.8%, which can provide significant income for investors even without annual increases [2][7] - General Mills operates in the consumer staples sector, focusing on packaged food products, and has a market capitalization of approximately $27 billion [3] Group 2 - The company is more accurately described as a brand manager, with a successful history of acquiring and managing various brands [4] - A notable recent acquisition was Blue Buffalo, a leading natural pet food brand, which has led to further bolt-on acquisitions in the pet food sector [5] - General Mills has been strategically reworking its portfolio, including the sale of its yogurt business, demonstrating a long-term focus in its buying and selling decisions [6]

Core Insights - The company is experiencing growth in its category, driven by investments in A&C (Advertising & Promotion) and distribution, which are supported by supply chain productivity and capital expenditures [1] Group 1: Supply Chain Transformation - The supply chain transformation and capital expenditure cycle that began last year is expected to continue through 2025 [1] - The company is focused on enhancing its manufacturing network and is assessing its progress in comparison to other packaged food companies regarding supply chain efficiencies [1]

Group 1 - The 34th Annual Barclays Global Consumer Staples Conference highlights the enduring relevance of the staples industry, which has maintained its significance over the years despite various economic cycles [3] - The conference features a comprehensive lineup of Barclays Global Staples coverage, including sectors such as U.S. packaged food, beverages, household personal care, and agribusiness [2] - The conference's longevity reflects the collaborative efforts of management teams within the staples industry, contributing to its growth and sustained interest [3]

Financial Data and Key Metrics Changes - The company has experienced five years of strong growth through fiscal 2023, influenced by significant inflationary pressures [4] - The outlook for fiscal 2026 includes a focus on organic sales growth, with a long-term target of 2% to 3% [10][12] - The company reaffirmed its guidance for the year, indicating confidence in the progress made [9] Business Line Data and Key Metrics Changes - In North America Retail, the company is seeing pound share growth in eight of its ten categories, with seven categories showing improvement since Q4 [8] - The Pet business is expected to drive dollar share growth and overall growth, with significant product news planned [7][12] Market Data and Key Metrics Changes - The industry is facing a challenging environment with flat volume growth, attributed to consumer value sensitivity and inflation adjustments [21][25] - The company noted a shift in consumer behavior towards cooking from scratch, impacting certain product categories positively [23] Company Strategy and Development Direction - The company is focused on organic sales growth as the primary driver of long-term value creation, alongside modest portfolio shaping [5][12] - Investments are being made to address consumer needs for value, including price adjustments and innovation across product categories [6][7] - The company is launching into the fresh pet food category, anticipating significant growth potential in this segment [51][56] Management's Comments on Operating Environment and Future Outlook - Management acknowledges the current operating environment is dynamic, with a focus on restoring volume-driven organic sales growth [10][20] - The company is optimistic about its ability to achieve mid-single-digit growth in the Pet segment, driven by product innovation and market positioning [66] Other Important Information - The company has made significant investments in digital capabilities, which are expected to enhance operational efficiency and consumer engagement [16][72] - A global transformation initiative is expected to generate an additional $100 million in cost savings, supporting growth initiatives [70] Q&A Session Summary Question: What gives you confidence in achieving the long-term growth rate? - Confidence stems from portfolio reshaping, brand focus through the Remarkable Experience framework, and investment in capabilities [11] Question: What are the main drivers of expected profitability decline? - Unusual factors include the divestiture of Yoplait and reset of incentive compensation, which are considered transitory [28] Question: How do you view the competitive landscape and your market share? - The company acknowledges past competitiveness issues and is focusing on improving product quality and advertising to regain market share [39] Question: What metrics will indicate success in the Fresh business? - Initial metrics will focus on trial, repeat purchases, and penetration within households [64] Question: What are the growth opportunities in the Pet segment? - The company sees significant growth potential in the Pet segment, particularly in the cat business and through new product innovations [66]

Financial Data and Key Metrics Changes - The company has experienced five years of strong growth through fiscal 2023, influenced by significant inflationary pressures [5] - The fiscal 2026 priorities focus on organic sales growth, with a long-term target of 2% to 3% growth [5][10] - The company expects a decline in operating profit of 10% to 15% for fiscal 2026, attributed to unusual factors such as the divestiture of Yoplait and reset of incentive compensation [25][26] Business Line Data and Key Metrics Changes - The North America retail business aims to restart volume-driven organic sales growth, with improvements seen in eight of ten categories [6][7] - The Pet business is focused on driving dollar share growth and has significant product news planned [6][10] - New product sales are expected to increase by 25% this year, with notable launches across major categories [35] Market Data and Key Metrics Changes - Industry volume recovery has been slower and more expensive than anticipated, with flat volume growth expected in the company's categories [16][17] - The company acknowledges a shift in consumer behavior towards value, impacting overall volume [18][19] - Despite challenges, there are growth opportunities in categories focused on health, bold flavors, and nostalgia [19] Company Strategy and Development Direction - The company is reshaping its portfolio towards growth orientation, having divested underperforming segments and acquired into fast-growing areas like pet food [10][11] - A focus on the "remarkable experience framework" aims to enhance brand competitiveness across key measures [12][34] - The company is investing in digital capabilities to improve efficiency and market positioning [13][61] Management's Comments on Operating Environment and Future Outlook - Management highlights the importance of addressing consumer value needs and the impact of inflation on purchasing behavior [5][18] - The company is optimistic about returning to mid-single-digit growth in the pet segment and leveraging new product innovations [56] - Management emphasizes the need for responsible investment to support organic sales growth while managing profitability [25][27] Other Important Information - The company plans to launch into the fresh pet food category, projecting significant growth potential in this $3 billion segment [43] - The fresh segment is expected to grow to $10 billion within the next decade, with a focus on leveraging the Blue Buffalo brand [43][44] - The company is committed to maintaining strong in-store presence and national advertising for the fresh product launch [46] Q&A Session Summary Question: What gives you confidence in achieving your long-term growth targets? - Confidence stems from portfolio reshaping, brand focus, and investment in capabilities [10] Question: What are the main drivers of the expected decline in profitability? - The decline is influenced by the Yoplait divestiture and reset of incentive compensation, which are seen as transitory factors [26] Question: How do you view the competitive landscape and your positioning? - The company acknowledges past competitiveness issues and is focused on improving product quality and advertising [34] Question: What metrics will indicate success in the fresh pet food segment? - Initial metrics will focus on trial, repeat purchases, and penetration within households [53]

Financial Data and Key Metrics Changes - The company has experienced five years of strong growth through fiscal 2023, influenced by significant inflationary pressures [5] - The fiscal 2026 priorities focus on organic sales growth, with a target of 2% to 3% long-term growth [10][12] - The company reaffirmed its guidance for the year, indicating confidence in its strategies despite current challenges [9] Business Line Data and Key Metrics Changes - The North America Retail business is focused on restarting volume-driven organic sales growth and driving dollar share growth in the Pet business [5][6] - The company reported pound share growth in eight of its ten categories in North America Retail, with seven categories showing improvement since Q4 [8] Market Data and Key Metrics Changes - The industry is facing a flat volume growth, with expectations of 0.5% growth aligning with population growth [20] - The company noted a shift in consumer behavior towards cooking from scratch due to value concerns, impacting volume trends [22][24] Company Strategy and Development Direction - The company is reshaping its portfolio towards growth-oriented categories, having divested underperforming segments [12] - The focus is on enhancing brand performance through the Remarkable Experience framework, which emphasizes product quality, packaging, and price value [13][14] - Significant investments in digital capabilities and e-commerce are being made, with e-commerce sales now representing 18% of total sales [16] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by inflation and consumer value consciousness, which have affected volume recovery [19][24] - The company is optimistic about growth opportunities in categories focused on health and nostalgia, which are currently trending positively [25] Other Important Information - The company is launching into the fresh pet food category, leveraging learnings from previous tests to ensure a successful entry [47][52] - The Fresh segment is projected to grow significantly, with the company aiming to capture a fair share of this market [52] Q&A Session Summary Question: What gives confidence in achieving long-term growth targets? - Confidence stems from portfolio reshaping, brand focus, and investment in capabilities [12][13] Question: What are the main drivers of expected profitability decline? - Unusual factors include the divestiture of Yoplait and reset of incentive compensation, which are seen as transitory [28][30] Question: How is the company addressing competitiveness issues? - The company is investing in product quality, advertising, and adjusting pricing strategies to improve competitiveness [39][40] Question: What metrics will be tracked for the Fresh business? - Initial metrics include trial, repeat, and penetration rates to gauge success [64] Question: What is the long-term growth potential for the Pet segment? - The company aims for mid-single-digit growth in the Pet segment, focusing on product superiority and market expansion [66]