J M SMUCKER Co

The J. M. Smucker Company makes branded food and beverage products for households and foodservice customers, with a portfolio anchored by coffee, peanut butter, fruit spreads, frozen handheld foods, pet food, and sweet baked snacks. Best known for brands such as Folgers, Dunkin’, Jif, Uncrustables, Hostess, Milk-Bone, and Meow Mix, the company sells primarily through North American retail channels and also has a smaller international and away-from-home business.

7,8 %

33,5 %

−1,5 %

+3,7 %

0.78

0.33

— J M SMUCKER Co
%
U.S. Retail Coffee28% Domestic coffee products including Folgers, Dunkin’, Café Bustelo, and K-Cup offerings.
U.S. Retail Frozen Handheld and Spreads27% Peanut butter, fruit spreads, and frozen handheld foods such as Jif, Smucker’s, and Uncrustables.
U.S. Retail Pet Foods18% Cat food and dog snacks sold under Meow Mix, Milk-Bone, Pup-Peroni, and Canine Carry Outs.
Sweet Baked Snacks18% Hostess branded sweet baked goods sold across retail and other channels.
International and Away From Home9% Export, international retail, and foodservice sales across other operating segments.

Smucker sells mainly to large U.S. retailers, including supermarkets, warehouse clubs, dollar stores, and e-commerce...

  • Large mass retailersprimary

    Walmart and similar chains buy high-volume branded staples for national distribution and shelf traffic.

  • Supermarkets and grocery chainsprimary

    They buy coffee, spreads, pet food, and snacks to serve everyday household demand.

  • Warehouse clubs and dollar storessecondary

    These channels buy value-oriented and high-turn products in larger pack sizes.

  • Foodservice distributors and operatorssecondary

    They buy products for restaurants, healthcare, education, lodging, and convenience use.

  • E-commerce and omnichannel retailersemerging

    They buy branded products for online grocery and direct-to-consumer shopping demand.

Smucker’s business is overwhelmingly North American, with the majority of sales in the United States and a smaller base...

  • •United States is the core market and the main source of revenue
  • •Canada is the principal non-U.S. operating market
  • •Net sales outside the U.S. were 4% of consolidated sales in 2025
  • •Products are also exported to other countries
  • •International and away-from-home channels add modest FX and demand exposure

Smucker’s strategy is to grow through branded consumer products with leadership positions, supported by innovation,...

01
Organic growth from core brandsmedium-term

The company expects new products and brand strength to drive most top-line growth.

02
Portfolio optimizationmedium-term

Acquisitions and divestitures reshape the mix toward higher-priority categories and away from non-core assets.

03
Margin protection through pricing and productivityshort-term

Commodity inflation and supply-chain pressure require pricing, mix, and cost control to preserve earnings.

04
Digital and e-commerce executionmedium-term

Online shopping is changing retail economics and shelf access, so digital capability is now a competitive requirement.

Smucker is exposed to consumer demand swings, inflation, and retailer concentration because its brands are sold through...

high

Customer concentration

Walmart represented 33% of net sales, and the top 10 customers were about 60% of sales.

Scope
Retail grocery and mass-market channels
Materiality
high
high

Commodity cost inflation

Higher green coffee, corn, and meal costs can compress gross margin if pricing lags.

Scope
Coffee, snacks, and pet food inputs
Materiality
high
medium

Private label and competitive pressure

Retailers can shift shelf space to lower-priced private label or rival branded products.

Scope
Coffee, spreads, pet food, and snacks
Materiality
high
medium

Macroeconomic slowdown

Inflation, recession risk, and weak consumer spending can reduce demand for branded packaged foods.

Scope
North American retail demand
Materiality
medium
medium

Cybersecurity and IT disruption

The company relies on digital systems for supply chain, logistics, finance, and marketing.

Scope
Enterprise systems and customer interfaces
Materiality
medium
Trade marketing and merchandising accruals
Net sales and gross margin
Derivative gains and losses
Operating income and adjusted earnings
Intangible assets and goodwill
Earnings and balance sheet carrying values
Special project costs
Adjusted operating income and adjusted EPS
Pension and debt-related items
Net income and cash flow presentation

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: 11/08/2026