Investor Presentaiton
Inflation continues at a very high rate and has
necessitated a 2nd price increase
Chicken
Beef
Packaging
Labor
Freight
Key cost element
Potential cost impact
Priced annually in
December;
significant
increases
necessitated 2nd
price increase
Priced quarterly;
assumed in plan;
in 2022, we will
be able to lock
pricing for 6
months
Floats with resin
price; increases
seen in all
materials
Labor market
tightness is
driving cost
increases at
virtually every
supplier
Assumed
inflation but
exceeding
expectations;
fuel costs have
skyrocketed
We need increased pricing and elimination of temporary operating inefficiencies to restore adj. gross margin
Implemented a 4.8% price increase on 11/29/21 and announced a second price increase that will be effective
on 2/28/22
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