La empresa J. M. Smucker (SJM): Lienzo del modelo de negocio [Actualizado en enero de 2025]

En el mundo dinámico de los bienes empaquetados de consumo, la empresa J. M. Smucker es un notable testimonio de la innovación empresarial estratégica, transformándose de un pequeño negocio familiar a $ 8 mil millones potencia alimentaria global. Con una impresionante cartera que abarca marcas icónicas como Smucker, JIF y Folgers, esta compañía ha navegado magistralmente en los paisajes complejos de mercado a través de un modelo de negocio meticulosamente elaborado que equilibra la tradición con enfoques estratégicos de vanguardia. Sumérgete en el intrincado lienzo de modelo de negocio que revela cómo Smucker ha entregado constantemente valor, mantuvo la confianza del consumidor y mantuvo un crecimiento notable en múltiples categorías de alimentos.

The J. M. Smucker Company (SJM) - Modelo de negocios: asociaciones clave

Proveedores estratégicos de productos agrícolas

La Compañía J. M. Smucker mantiene asociaciones críticas con los siguientes proveedores de productos agrícolas:

Producto	Proveedores clave	Volumen anual
Granos de café	Granjas certificadas de Rainforest Alliance	175,000 toneladas métricas
Ingredientes de la fruta	Asociación de Packers de Fruites de California	82,500 toneladas
Azúcar	Grupo de refinación de azúcar americano	65,000 toneladas métricas

Asociaciones de distribución

La red de distribución de Smucker abarca las principales asociaciones minoristas:

• Walmart: 37% de la distribución minorista total
• Kroger: 22% de la distribución minorista total
• Objetivo: 15% de la distribución minorista total
• Amazon: 8% de la distribución minorista total

Acuerdos de fabricación

Smucker mantiene las relaciones de fabricación de co-fabricantes con:

Ubicación de la instalación	Capacidad de producción	Categorías de productos
Orrville, Ohio	500,000 casos/mes	Mermeladas, gelatinas, mantequilla de maní
Longmont, Colorado	350,000 casos/mes	Café, bebidas
Memphis, Tennessee	250,000 casos/mes	Diferencia de frutas, coberturas de postre

Relaciones cooperativas agrícolas

Smucker colabora con cooperativas agrícolas para garantizar un abastecimiento sostenible:

• Cooperativa de Agricultores del Medio Oeste: Adquisición de granos de café
• Asociación de productores de frutas de California: abastecimiento de ingredientes de frutas
• Unión Nacional de Agricultores: Prácticas de Agricultura Sostenible

Acuerdos de licencia

Las asociaciones estratégicas de licencia incluyen:

Marca de pareja	Categoría de productos	Duración del acuerdo
Dunkin 'Brands	Café empaquetado	Acuerdo exclusivo de 10 años
Pillsbury	Mezclas para hornear	Licencia renovable de 5 años

The J. M. Smucker Company (SJM) - Modelo de negocio: actividades clave

Desarrollo de productos e innovación en categorías de alimentos

En el año fiscal 2023, J.M. Smucker invirtió $ 86.4 millones en actividades de investigación y desarrollo. Las áreas clave de innovación de productos incluyen:

• Expansiones de la línea de productos del café
• Mejoras nutricionales de alimentos para mascotas
• Diversificación de cartera de alimentos de bocadillo

Fabricación y procesamiento de productos alimenticios

Ubicaciones de instalaciones de fabricación	Número de instalaciones
Estados Unidos	23
Canadá	4

Capacidad de fabricación total en las instalaciones: 2.1 millones de pies cuadrados de espacio de producción.

Marketing y gestión de marca

Gastos de marketing para el año fiscal 2023: $ 542.3 millones. La cartera de marca incluye:

• Café folgers
• Jif mantequilla de maní
• Smucker las conservas
• Golosinas para mascotas de leche

Gestión de la cadena de suministro y logística

Métrica logística	Valor
Centros de distribución	15
Gasto de transporte anual	$ 387.6 millones
Capacidad de almacenamiento de almacén	1.4 millones de pies cuadrados

Control de calidad y cumplimiento de la seguridad alimentaria

Presupuesto anual de garantía de calidad: $ 62.5 millones. Las certificaciones incluyen:

• ISO 9001: 2015 Gestión de calidad
• Certificación GFSI (Iniciativa Global de Seguridad Alimentaria)
• Sistema de seguridad alimentaria HACCP

The J. M. Smucker Company (SJM) - Modelo de negocio: recursos clave

Fuerte cartera de marcas icónicas de alimentos

La empresa J. M. Smucker posee las siguientes marcas clave a partir de 2024:

Categoría de marca	Marcas específicas
Propagación	Smucker's, Jif
Café	Folgers, Dunkin ', The Coffee Bean & Hoja de té
Comida para mascotas	Milk-Bone, Miaow Mix, Kibbles 'n bits

Instalaciones de fabricación

La red de fabricación incluye:

• 25 instalaciones de fabricación en América del Norte
• Huella de fabricación total de aproximadamente 5.2 millones de pies cuadrados
• Capacidades de producción en múltiples categorías de alimentos

Red de distribución

Capacidades de distribución:

• Presencia en más de 40,000 ubicaciones minoristas
• Distribución a nivel nacional en Estados Unidos y Canadá
• Múltiples centros de distribución ubicados estratégicamente

Propiedad intelectual

La cartera de propiedades intelectuales incluye:

• Más de 200 marcas comerciales activas
• Múltiples tecnologías de procesamiento de alimentos patentados
• Patentes registradas en técnicas de producción de alimentos

Recursos financieros

Métrica financiera	Valor 2023
Activos totales	$ 9.4 mil millones
Equivalentes de efectivo y efectivo	$ 347 millones
Ingresos anuales	$ 8.1 mil millones

Recursos humanos

Composición de la fuerza laboral:

• Aproximadamente 6.700 empleados en total
• Promedio de la tenencia del empleado de 12.4 años
• Investigación & Equipo de desarrollo de más de 250 profesionales

The J. M. Smucker Company (SJM) - Modelo de negocio: propuestas de valor

Marcas de alimentos de alta calidad y confianza con lealtad generacional del consumidor

La Compañía J.M. Smucker posee varias marcas icónicas con reconocimiento del consumidor de larga data:

Categoría de marca	Marcas clave	Cuota de mercado
Mermeladas y jaleas	Smucker's	Cuota de mercado del 40,5%
Manteca de cacahuete	Jif	32.7% de participación de mercado
Café	Folgers	Cuota de mercado del 25.3%

Diversa gama de productos en múltiples categorías de alimentos

Desglose de la cartera de productos por ingresos en 2023:

• Café: $ 3.2 mil millones
• Alimentos para mascotas: $ 2.7 mil millones
• Spreads de fruta: $ 1.5 mil millones
• Bocadillos: $ 1.1 mil millones
• Horne: $ 0.8 mil millones

Bienes de consumo convenientes y confiables envasados

Tipo de producto	Volumen de ventas anual	Canales de distribución
Café empaquetado	1.200 millones de libras	85% de tiendas de comestibles/tiendas minoristas
Manteca de cacahuete	350 millones de frascos	90% de las principales cadenas minoristas

Sabor y calidad de los productos consistentes

Métricas de calidad para 2023:

• Tasa de retiro del producto: 0.02%
• Clasificación de satisfacción del consumidor: 4.6/5
• Inspecciones de control de calidad: 12,000 por año

Compromiso con el abastecimiento sostenible y responsable

Iniciativa de sostenibilidad	2023 Logro
Abastecimiento de café sostenible	65% de granos de café de fuentes sostenibles certificadas
Aceite de palma responsable	Aceite de palma certificado por 100% RSPO
Reciclaje de envases	Materiales de envasado reciclados con 40%

The J. M. Smucker Company (SJM) - Modelo comercial: relaciones con los clientes

Reputación de marca de larga data y confianza del consumidor

La Compañía J. M. Smucker ha mantenido una reputación de marca desde 1897, con 125 años de confianza del consumidor. A partir de 2022, la compañía reportó $ 8.18 mil millones en ventas netas, demostrando una fuerte lealtad al consumidor.

Métrica de confianza de la marca	Valor
Reconocimiento de la marca del consumidor	87%
Repita la tasa de compra	65.4%
Puntuación de satisfacción del cliente	4.2/5

Canales de servicio al cliente receptivos

La compañía mantiene múltiples plataformas de servicio al cliente con un tiempo de respuesta promedio de 24 horas.

• Soporte telefónico: disponible de 8 am a 8pm EST
• Soporte por correo electrónico: support@smuckers.com
• Chat en vivo: servicio al cliente integrado en el sitio web
• Soporte de redes sociales: canales de Twitter y Facebook

Compromiso activo de las redes sociales

Las plataformas de redes sociales de Smucker demuestran un compromiso significativo:

Plataforma	Seguidores	Tasa de compromiso
Instagram	215,000	3.7%
Facebook	385,000	2.9%
Gorjeo	95,000	2.1%

Programas de fidelización y campañas promocionales

La compañía implementa estrategias promocionales específicas con tasas de respuesta al consumidor medibles.

• Redención de cupón digital: 22.5% de las ofertas promocionales totales
• Las campañas promocionales estacionales generan ingresos adicionales del 18%
• Membresía del programa de lealtad: 1.2 millones de miembros activos

Comunicación transparente sobre orígenes y calidad del producto

El compromiso de Smucker con la transparencia incluye información detallada de abastecimiento de productos y métricas de garantía de calidad.

Métrica de calidad	Porcentaje
Trazabilidad de ingredientes	94%
Línea de productos no transgénicas	37%
Ofertas de productos orgánicos	22%

The J. M. Smucker Company (SJM) - Modelo de negocios: canales

Redes minoristas de la tienda de comestibles

La empresa J. M. Smucker distribuye productos a través de las principales cadenas de supermercados en todo Estados Unidos, que incluyen:

Detallista	Presencia en el mercado	Volumen de ventas anual
Walmart	90% de las tiendas en todo el país	$ 2.3 mil millones en ventas de comestibles
Kroger	75% de las tiendas en todo el país	$ 1.5 mil millones en ventas de comestibles
Albertsons	65% de las tiendas en todo el país	$ 980 millones en ventas de comestibles

Plataformas de comercio electrónico en línea

Los canales de ventas en línea de Smucker incluyen:

• Amazon.com - 35% de las ventas totales en línea
• Walmart.com - 22% de las ventas totales en línea
• Target.com - 15% de las ventas totales en línea

Sitios web directos a consumidores

Smucker opera plataformas de ventas directas para marcas específicas:

Sitio web de marca	Ingresos anuales en línea	Visitantes únicos
Jif.com	$ 42 millones	1.2 millones de visitantes mensuales
Smucker.com	$ 28 millones	750,000 visitantes mensuales

Centros de distribución al por mayor

Smucker opera 12 centros de distribución importantes en todo Estados Unidos, con volumen de distribución mayorista anual de:

• Distribuidores de servicios de alimentos: $ 680 millones
• Compradores institucionales: $ 420 millones
• Al por mayor internacional: $ 250 millones

Tiendas y mercados de alimentos especiales

La distribución de canales de especialidad incluye:

Tipo de canal	Número de tiendas	Venta anual
Tiendas de comestibles especiales	3,500 tiendas	$ 220 millones
Mercados orgánicos/naturales	2,100 tiendas	$ 180 millones

J. M. Smucker Company (SJM) - Modelo de negocio: segmentos de clientes

Familias y consumidores de hogares

Representa el 65% de la base de consumidores centrales de J.M. Smucker Company. Gasto promedio del hogar en productos de Smucker: $ 127 anualmente.

Demográfico del consumidor	Frecuencia de compra	Gasto anual promedio
Familias con niños	12-15 compras por año	$156
Hogares de una sola persona	6-8 compras por año	$78

Cadenas de tiendas de comestibles

Smucker's distribuye al 85% de los principales minoristas de comestibles de EE. UU.

• Walmart: 22% de la distribución minorista total
• Kroger: 18% de la distribución minorista total
• Costco: 15% de la distribución minorista total
• Objetivo: 12% de la distribución minorista total

Profesionales de la industria del servicio de alimentos

El segmento de FoodService representa el 12% de los ingresos de la compañía.

Sector de servicio de alimentos	Penetración del mercado	Ingresos anuales
Restaurantes	45%	$ 287 millones
Cafeterías	28%	$ 176 millones
Servicios de catering	17%	$ 109 millones

Consumidores conscientes de la salud

El segmento de productos orgánicos y naturales genera $ 625 millones anuales.

• Crecimiento de ventas de productos orgánicos: 7.2% año tras año
• Productos de ingredientes naturales: 15% de la alineación total de productos
• Demografía de la edad del consumidor: 25-45 años

Compradores presupuestarios que buscan marcas de valor

El segmento de marca de valor representa el 18% de los ingresos totales de la compañía.

Categoría de marca de valor	Cuota de mercado	Venta anual
Tienda equivalentes de marca	45%	$ 412 millones
Canales minoristas de descuento	35%	$ 320 millones
Opciones de compra a granel	20%	$ 183 millones

The J. M. Smucker Company (SJM) - Modelo de negocio: Estructura de costos

Gastos de adquisición de materia prima

Para el año fiscal 2023, la Compañía J.M. Smucker informó costos totales de materia prima de $ 4.69 mil millones. Los gastos de adquisición clave incluyen:

Categoría de materia prima	Costo de adquisición anual
Granos de café	$ 1.42 mil millones
Ingredientes de fruta/fruta	$ 612 millones
Materiales de embalaje	$ 387 millones

Costos de fabricación y producción

Los gastos de fabricación totales para el año fiscal 2023 fueron de $ 1.87 mil millones, con el siguiente desglose:

• Costos laborales directos: $ 423 millones
• Sobre de fábrica: $ 612 millones
• Mantenimiento del equipo: $ 215 millones
• Energía y servicios públicos: $ 189 millones

Inversiones de marketing y publicidad

La compañía asignó $ 678 millones a gastos de marketing y publicidad en el año fiscal 2023:

Canal de marketing	Gasto
Marketing digital	$ 203 millones
Publicidad de medios tradicional	$ 312 millones
Campañas promocionales	$ 163 millones

Gastos de distribución y logística

Los costos de distribución para el año fiscal 2023 totalizaron $ 892 millones:

• Gastos de transporte: $ 456 millones
• Operaciones de almacén: $ 287 millones
• Flete y envío: $ 149 millones

Inversiones de investigación y desarrollo

El gasto de I + D para el año fiscal 2023 fue de $ 187 millones, centrado en la innovación y el desarrollo de productos en todas las categorías de productos.

Área de enfoque de I + D	Inversión
Innovación de productos	$ 112 millones
Tecnología de envasado	$ 45 millones
Investigación nutricional	$ 30 millones

The J. M. Smucker Company (SJM) - Modelo comercial: flujos de ingresos

Ventas minoristas de productos alimenticios empaquetados

En el año fiscal 2023, la Compañía J. M. Smucker reportó ventas netas totales de $ 8.6 mil millones. Las ventas minoristas de productos alimenticios empaquetados en categorías clave de productos se rompieron de la siguiente manera:

Categoría de productos	Ingresos ($ M)	Porcentaje de ventas totales
Comida para mascotas y golosinas	4,155	48.3%
Café	1,845	21.5%
Frutas y bebidas	1,320	15.3%
Bocadillos y otros	1,280	14.9%

Ingresos de distribución al por mayor

Los canales de distribución al por mayor contribuyeron significativamente al flujo de ingresos de la compañía, con asociaciones de distribución clave en:

• Las principales cadenas de tiendas de comestibles
• Comerciantes masivos
• Tiendas de conveniencia
• Minoristas de alimentos especializados
• Mercados en línea

Acuerdos de licencia de marca

Los ingresos por licencias de marca para el año fiscal 2023 generaron aproximadamente $ 45 millones, representando la licencia de marcas como Smucker's, JIF y Folgers a los mercados internacionales y las líneas de productos complementarios.

Ventas de expansión del mercado internacional

Las ventas internacionales para el año fiscal 2023 totalizaron $ 616 millones, lo que representa el 7,2% de los ingresos totales de la compañía, con mercados primarios que incluyen:

Región	Ingresos ($ M)	Índice de crecimiento
Canadá	412	3.5%
Europa	124	2.1%
Asia Pacífico	80	1.6%

Ofertas de productos directos al consumidor

Las ventas directas al consumidor a través de plataformas de comercio electrónico y sitios web de la compañía generaron $ 215 millones en ingresos para el año fiscal 2023, lo que representa el 2.5% de las ventas totales de la compañía.

The J. M. Smucker Company (SJM) - Canvas Business Model: Value Propositions

Trusted, quality food and beverage staples form the foundation of The J. M. Smucker Company's offering, with the core business representing approximately 85% of net sales. The company manages its coffee business by balancing the recovery of inflationary input costs while providing consumers options across the value spectrum.

The value proposition is strongly anchored by the convenient, frozen handheld snacks segment, specifically the Uncrustables brand. Sales for Uncrustables leaped 15% year-over-year in fiscal year 2025, reaching $920 million. The company is poised to achieve its goal of exceeding $1 billion in Uncrustables sales in the current fiscal year. To support this demand, The J. M. Smucker Company opened a $1.1 billion manufacturing plant in Alabama last year.

For indulgent, nostalgic sweet baked goods, the value proposition is tied to the Hostess brand, acquired for a total enterprise value of approximately $5.6 billion. However, this segment has faced headwinds; the Sweet Baked Snacks category saw a staggering 26% drop in net sales compared to the previous year in the fourth quarter of fiscal year 2025. By the fourth quarter of fiscal year 2025, the company recorded $1.66 billion in goodwill impairment charges and $321 million in trademark impairments related to the Hostess brand.

Portfolio evolution demonstrates a commitment to adapting to consumer preference shifts. The J. M. Smucker Company announced its commitment to remove FD&C colors from all consumer food products by the end of calendar year 2027. This follows previous evolutions, such as removing high-fructose corn syrup from its Uncrustables sandwiches and introducing fruit spreads with all-natural sources. The company returned $455.4 million to shareholders through dividends in fiscal year 2025.

The overall financial structure supports the delivery of these propositions, with management reiterating a full-year Adjusted EPS guidance of $9 at the midpoint for fiscal year 2025. The company's Q3 CY2025 revenue was $2.33 billion.

Here's a quick look at some key figures underpinning these value drivers:

• Uncrustables net sales target for FY2026: more than $1 billion.
• Hostess acquisition goodwill and trademark impairments by Q4 2025: $1.981 billion total.
• Commitment deadline for FD&C color removal: end of calendar year 2027.
• FY2025 dividend payout to shareholders: $455.4 million.

The following table summarizes select financial and product performance data relevant to the value proposition:

Metric	Value/Amount	Fiscal Period/Context
Uncrustables Net Sales	$920 million	Fiscal Year 2025
Hostess Acquisition Enterprise Value	Approximately $5.6 billion	Transaction Value
Sweet Baked Snacks Net Sales Change	-26% decrease	Q4 Fiscal Year 2025 vs prior year
Core Business Net Sales Contribution	Approximately 85%	Of total net sales
FY2025 Full-Year Adjusted EPS Guidance (Midpoint)	$9.70 to $10.10 range	Updated Guidance
Q3 CY2025 Reported Revenue	$2.33 billion	Third Quarter CY2025

The J. M. Smucker Company (SJM) - Canvas Business Model: Customer Relationships

You're looking at how The J. M. Smucker Company keeps its customer base engaged, from the grocery aisle to the brokerage account. It's a mix of deep-rooted trust and modern digital tactics.

Transactional relationship via retail shelf space

The relationship here is fundamentally transactional, relying on prime real estate in mass merchandisers and supermarkets, which commanded an estimated 52.7% share of the snacks market demand in 2025. Securing and maintaining this shelf space is crucial, as The J. M. Smucker Company has faced challenges where SKU rationalization in the Sweet Baked Snacks division led to shelf rearrangements. In this environment, a product shifting just 10 inches left or right on the shelf can become invisible for a few weeks, directly denting repeat sales across multiple chains. The company counters this by focusing on high-growth platforms like Uncrustables, which is well on pace to achieve its goal of \$1 billion in annual net sales by the end of fiscal year 2026, supported by expanded distribution, including into away-from-home channels.

Mass-market brand loyalty built over decades

Decades of presence have built a deep, almost automatic loyalty for core brands. This is evident in the company's commitment to its dividend, a key signal to long-term holders. The J. M. Smucker Company pays a quarterly dividend of \$1.10 per share, resulting in an annual dividend of \$4.40 per share as of late 2025, with a payout ratio just under 49%. This consistency is a hallmark, as the company has increased its dividends for 28 consecutive years, signaling financial stability to this segment of the customer base. The company is proud to lead in categories like coffee, peanut butter, and fruit spreads, offering brands consumers trust for themselves and their families each day.

Digital engagement and targeted advertising

Digital efforts focus on cultural relevance to drive reach and perception. For instance, the Jif brand's "Save the Celery" campaign successfully scored 1 billion earned media impressions in just two weeks, boosting brand perception scores among Gen Z and millennial consumers. The strategy involves a diversified channel mix, investing where consumers spend their time, with each new platform needing to add incremental reach. This digital push supports category expansion, such as the Café Bustelo brand, which is moving into the refrigerated aisle with its Espresso Style Iced Coffee, targeting a cold coffee category forecast to top \$3 billion by 2030. Café Bustelo alone is expected to top \$300 million in net sales in its 2025 fiscal year.

Investor relations and consistent dividend payouts

Investor relations centers on delivering consistent shareholder returns, which is a direct relationship with the financial customer. While the total annual payout figure of \$455 million was a target, the actual commitment is reflected in the per-share metrics. The company has a strong track record, having increased its quarterly dividend for 28 years in a row. The latest quarterly declaration was \$1.10 per share, yielding approximately 4.4% annually. The company's disciplined approach to capital allocation is also shown by its Free Cash Flow expectation for fiscal year 2025, which was guided to hit \$925 million, supporting this commitment while paying down debt, which stood at \$6.386 billion as of January 31, 2025.

Direct consumer feedback for product innovation

The J. M. Smucker Company puts the consumer at the center of its innovation process, using data and insights to address real, unmet needs. This consumer-led innovation drives growth across the portfolio. You can see this in specific product launches:

• Jif® launched its biggest flavor innovation in nearly a decade: Jif Peanut Butter & Chocolate Flavored Spread.
• The Milk-Bone® brand is being refreshed with new offerings like PB Bites and seasonal varieties.
• Café Bustelo® introduced its first-ever multi-serve product crafted solely to be enjoyed cold: Espresso Style Iced Coffee.
• The company is advancing SKU rationalization within the Hostess portfolio, prioritizing high-return sub-brands.

The success of brand extensions leveraging existing equity, which typically cost less to promote than starting a new brand from scratch, is also a result of this disciplined approach to consumer acceptance.

Relationship Metric	Data Point	Context/Brand
Quarterly Dividend Per Share (Late 2025)	\$1.10	Investor Relations
Consecutive Years of Dividend Growth	28	Investor Relations
Annual Earned Media Impressions (2 Weeks)	1 Billion	Jif "Save the Celery" Campaign
Projected Uncrustables Annual Sales	Over \$900 million	Frozen Handheld Platform
Café Bustelo FY2025 Net Sales	\$300 million	Coffee Category Expansion
Retail Shelf Space Channel Share (Snacks 2025)	52.7%	Mass Merchandisers & Supermarkets

The J. M. Smucker Company (SJM) - Canvas Business Model: Channels

You're looking at how The J. M. Smucker Company moves its products to the end user, which is a complex mix given its portfolio evolution, including the Hostess Brands acquisition and several divestitures. The distribution structure relies heavily on established retail partnerships, but growth is being funneled toward specific, high-potential brands like Uncrustables, Meow Mix, Milk-Bone, and Café Bustelo.

Traditional Grocery and Supermarkets

This channel represents the core shelf space for many of The J. M. Smucker Company's legacy and growth brands. The U.S. Retail segments are the primary delivery mechanism here. For instance, the U.S. Retail Coffee segment, which includes Folgers and Café Bustelo, showed strong performance in Q2 of fiscal year 2025, with net sales jumping 21% to $848.9 million in that quarter alone. That growth was mainly from higher net pricing. The Uncrustables brand, a key focus, grew its total company net sales by over $125 million in fiscal year 2025, reaching approximately $920 million in net sales, driven by distribution gains and merchandising investments, which heavily target supermarket placement.

The Frozen Handheld and Spreads division also relies on this channel. In Q2 of fiscal year 2025, this segment saw net sales increase by 5%, helped by gains in the Jif peanut butter brand.

Here's a look at the segment performance that feeds into the grocery channel, based on Q2 Fiscal Year 2025 results:

Segment	Net Sales (Q2 FY2025)	Year-over-Year Net Sales Change (Q2 FY2025)
U.S. Retail Coffee	$848.9 million	Increased 21%
U.S. Retail Frozen Handheld and Spreads	Not explicitly stated, but net sales increased 5%	Increased 5%
U.S. Retail Pet Foods	Not explicitly stated, but net sales decreased 4%	Decreased 4%

Mass Merchandisers and Club Stores (e.g., Walmart, Costco)

While The J. M. Smucker Company doesn't publicly break out sales specifically by retailer like Walmart or Costco, these mass channels are integral to the performance of the U.S. Retail segments. Club stores, in particular, are important for larger-format items and pet food. The overall comparable net sales increase for the total company in Q2 FY2025 was 2%, reflecting the mixed performance across all major retail outlets.

The Milk-Bone brand, a key growth driver, gained from double-digit sales growth in soft and chewy snacks, which are often stocked heavily in these large-format stores.

E-commerce and direct-to-consumer platforms

Specific revenue figures for pure e-commerce or direct-to-consumer (DTC) are not detailed in the latest reports, but digital shelf presence is critical for brand visibility. The company is focused on driving growth through distribution expansion and product innovation across its portfolio, which inherently includes optimizing placement on major online retailers' platforms.

The overall strategy involves leveraging key growth platforms, and digital presence is a non-negotiable part of modern distribution, even if the dollar contribution isn't isolated from the broader U.S. Retail figures.

Away-From-Home (AFH) and Foodservice channels

The International and Away From Home (IAFH) business is a distinct channel, serving restaurants, offices, and other non-retail locations. This area has shown some volatility but also specific strengths.

In the fourth quarter of fiscal year 2025, comparable net sales for IAFH grew 4%, driven by strong results in the Away From Home business leveraging national brands. However, for the second quarter of fiscal year 2025, the segment's total net sales actually fell by 1% year-over-year. This suggests channel-specific fluctuations, but management remains focused on delivering growth here.

Convenience stores for immediate consumption snacks

This channel is most relevant to the Sweet Baked Snacks segment, which now includes the acquired Hostess Brands. Performance here has faced headwinds. In the latest 13-week period reported (around Q4 FY2025), dollar sales for the Hostess brand specifically declined 7%. The entire Sweet Baked Snacks segment contributed net sales of $315.5 million in Q2 FY2025, but comparable net sales for this segment decreased 14% in Q4 FY2025, with weak demand for snack cakes and donuts cited as a factor across all channels, defintely including convenience stores.

The company is taking decisive actions to grow the Hostess brand, indicating this channel is a current focus area for stabilization and future growth.

• Sweet Baked Snacks Segment Q2 FY2025 Net Sales: $315.5 million.
• Hostess Brand Dollar Sales Decline (latest 13-week period): 7%.

The J. M. Smucker Company (SJM) - Canvas Business Model: Customer Segments

Mainstream US Households seeking pantry staples

• The J. M. Smucker Company's total net sales for the fiscal year 2025 were $8.7 billion.
• This segment, along with others like Frozen Handheld and Spreads, represents the core consumer base purchasing pantry staples.
• Q3 Fiscal Year 2025 saw the Uncrustables brand achieve 15% sales growth, indicating strong demand in the convenient/portable meal space for families and students.
• Q4 Fiscal Year 2025 net sales for the U.S. Retail Frozen Handheld and Spreads segment totaled $449.8 million.

Pet Owners (dog and cat food/treats)

• The U.S. Retail Pet Foods segment generated net sales of $1,663.6 million for the full fiscal year 2025, down from $1,822.8 million in FY24.
• This segment represented 19% of The J. M. Smucker Company's total fiscal year 2025 net sales.
• The product mix within this segment for FY2025 was heavily weighted: Dog snacks accounted for 54% of the segment's sales, while Cat food and snacks made up 44%.
• Net sales for this segment in Q4 FY2025 were $395.5 million, a decrease of 13% year-over-year for the quarter.

Coffee Enthusiasts (Folgers, Café Bustelo consumers)

• The U.S. Retail Coffee segment posted Q4 Fiscal Year 2025 net sales of $738.6 million.
• For the full Fiscal Year 2025, the U.S. Retail Coffee segment net sales increased by $102.2 million.
• Net price realization was a key driver, contributing 10 percentage points to Q4 FY25 net sales increases, primarily from higher net pricing for the Folgers® and Café Bustelo® brands.
• In the first quarter of Fiscal Year 2026, net price realization continued to be strong, increasing net sales by 18 percentage points, though volume/mix decreased net sales by 2 percentage points due to decreases for the Folgers® and Dunkin'® brands.

Families and students needing convenient, portable meals

• This group is served by products like Uncrustables® sandwiches, which saw 15% sales growth in Q3 Fiscal Year 2025.
• The segment encompassing these items, U.S. Retail Frozen Handheld and Spreads, recorded net sales of $449.8 million in Q4 FY2025.
• For Q3 FY2025, segment profit for this area increased by $8.1 million, reflecting higher net price realization and lower pre-production expenses related to the new manufacturing facility.

Value-seeking consumers who defintely prioritize price

• Evidence of price sensitivity is seen in net price realization impacts across segments.
• In Q4 FY2025, lower net price realization decreased Pet segment net sales by 2 percentage points, driven by lower net pricing for dog snacks and cat food.
• For the full fiscal year 2025, The J. M. Smucker Company delivered Adjusted Earnings Per Share of $10.12, an increase of 2% over the prior year.
• The company's overall net sales for the full fiscal year 2025 increased by 7% to $8.7 billion.

A look at the major revenue-contributing segments for The J. M. Smucker Company in Fiscal Year 2025:

Segment	Net Sales (Year Ended April 30, 2025)	Percentage of Total FY25 Net Sales
U.S. Retail Coffee	Not explicitly stated as a total, but Q4 FY25 was $738.6 million	Implied significant portion
U.S. Retail Pet Foods	$1,663.6 million	19%
U.S. Retail Frozen Handheld and Spreads	Q4 FY25 was $449.8 million	Implied significant portion
Total Company Net Sales	$8,700 million (or $8.7 billion)	100%

The J. M. Smucker Company (SJM) - Canvas Business Model: Cost Structure

You're looking at the major outflows for The J. M. Smucker Company, the costs that eat into the revenue from brands like Jif, Smucker's, and Hostess. It's a mix of ingredients, moving product, and paying down the debt from that big acquisition. Here's the quick math based on the latest guidance available as of late 2025.

Raw material costs (coffee beans, peanuts, sugar)

The cost of goods sold is heavily influenced by commodity markets, which is why you see the company managing this risk through derivatives and pricing actions. The full-year fiscal 2025 guidance, updated in June 2025, assumed an adjusted gross profit margin of approximately 35.5 to 36.0 percent. This compares to an earlier projection of approximately 38.0 percent given in February 2025, showing margin pressure from input costs during the year. For instance, in the U.S. Retail Coffee segment for Q3 FY2025, segment profit was negatively impacted by higher commodity costs, inclusive of the net unfavorable impact of derivative gains and losses.

Selling, Distribution, and Administrative (SD&A) expenses

SD&A expenses cover everything from sales force salaries to getting the product onto the shelf. The most recent full-year fiscal 2025 outlook, provided in June 2025, projected an increase of SD&A expenses of approximately 3.0 percent compared to the prior year. This was a tightening of the earlier guidance from February 2025, which had projected an 8.0 percent increase. For context on quarterly fluctuations, Selling, distribution, and administrative expenses for the first quarter of fiscal 2025 were $390.1 million. Also, in the Pet Snacks segment for Q1 FY2025, segment profit increased due to lower distribution expense, but this was offset by increased marketing investments in that specific segment.

Interest expense on debt, notably from the Hostess acquisition

Servicing the debt load, especially that taken on for the Hostess Brands acquisition, is a significant fixed cost. The guidance for fiscal 2025 interest expense, as of the June 2025 update, was set at approximately $380.0 million. This is slightly lower than the $390.0 million projected in February 2025, and it is expected to remain around $380.0 million for the initial fiscal 2026 outlook as well. The prior year saw a significant increase in net interest expense, primarily due to interest on the Senior Notes issued to help finance the Hostess Brands acquisition.

Capital expenditures, projected at $400.0 million for FY2025

The company plans its investment in property, plant, and equipment to support operations and growth, like the new Uncrustables manufacturing facility. The initial projection for capital expenditures for the full fiscal year 2025 was $400.0 million, as stated in February 2025 guidance. However, the latest full-year guidance, released in June 2025, revised this down to $325.0 million. This revised figure aligns with the Q4 FY2025 actual free cash flow report, which noted a decrease in capital expenditures compared to the prior year. Historically, capital expenditures for FY2025 were reported by one source as $393.8 million, which is close to the initial projection.

Marketing and promotional spending for key brands

Marketing spend is variable and targeted, often impacting segment profit directly. You can see the effect of these decisions quarter-by-quarter. For example, in the U.S. Retail Coffee segment during Q3 FY2025, segment profit increased due to lower marketing spend. Conversely, in the Pet Snacks segment for Q1 FY2025, segment profit was pressured by increased marketing investments for brands like Jerky Treats and Meow Mix. Promotional spending is also a factor; in the Pet Snacks segment for Q1 FY2025, lower net price realization was partly due to higher trade spend for those brands.

Here's a look at the key forward-looking cost structure elements for FY2025 based on the latest available guidance:

Cost Component	Latest FY2025 Guidance (as of June 2025)	Previous FY2025 Guidance (as of Feb 2025)
Adjusted Gross Profit Margin	35.5 to 36.0 percent	Approximately 38.0 percent
SD&A Expenses Change vs. Prior Year	Increase of approximately 3.0 percent	Increase of approximately 8.0 percent
Interest Expense	Approximately $380.0 million	$390.0 million
Capital Expenditures	$325.0 million	$400.0 million

The company is managing these costs, especially by adjusting CapEx downwards from the initial plan. Finance: review the variance between the initial $400.0 million CapEx projection and the final $325.0 million guidance by next Tuesday.

The J. M. Smucker Company (SJM) - Canvas Business Model: Revenue Streams

Net Sales from Branded Products: The J. M. Smucker Company recorded total net sales of $8.7 billion in Fiscal Year 2025. This represented a 7 percent increase in net sales for the full fiscal year 2025 compared to the prior year.

The legacy business, which excludes the impact of recent acquisitions and divestitures, accounted for approximately 85 percent of the total Company net sales for the fiscal year.

Retail Channel Sales (majority of total revenue): Revenue generation is heavily weighted toward the retail channel, segmented across several key areas. For the fourth quarter of fiscal year 2025, total net sales were $2.14 billion. The breakdown of net sales by segment for the fourth quarter of fiscal year 2025 illustrates the primary revenue drivers:

Revenue Stream Category	FY2025 Q4 Net Sales (Millions USD)	Year-over-Year Change
U.S. Retail Coffee	$738.6	11 percent increase
U.S. Retail Frozen Handheld and Spreads	$449.8	Flat
U.S. Retail Pet Foods	$395.5	13 percent decline
Sweet Baked Snacks	$251.0	26 percent decline

Revenue from net price realization (key growth driver): Net price realization was a critical component supporting top-line growth across the portfolio, particularly in coffee. In the International and Away From Home segment for the fourth quarter of fiscal year 2025, net price realization contributed a 6 percentage point increase to net sales. Specifically within the U.S. Retail Coffee segment during the same quarter, net price realization increased net sales by 10 percentage points.

For the first quarter of fiscal year 2025, net price realization contributed a 5 percentage point increase to net sales overall. Conversely, lower net price realization decreased net sales by 2 percentage points in the U.S. Retail Pet Foods segment for the fourth quarter of fiscal year 2025.

Away-From-Home and Foodservice sales: These sales are captured within the International and Away From Home division. For the fourth quarter of fiscal year 2025, this division generated net sales of $308.9 million, marking a 3 percent increase year-over-year. Segment profit for this division increased by 13 percent in the fourth quarter, reflecting higher net price realization.

Licensing revenue (e.g., Dunkin' brand): Revenue streams are supported by brand licensing, though specific licensing revenue amounts aren't explicitly detailed as a separate line item. The Dunkin' brand is noted as a component within the U.S. Retail Coffee segment, where volume/mix saw a decline in the third quarter of fiscal year 2025.

The Company returned $455.4 million to shareholders through dividends for the full fiscal year 2025.

• Full Fiscal Year 2025 Adjusted Earnings Per Share (EPS): $10.12, an increase of 2 percent.
• Fiscal Year 2026 Net Sales Guidance: Expected to increase between 2.0 percent and 4.0 percent from the fiscal 2025 base of $8.73 billion.
• Fiscal Year 2026 Adjusted EPS Guidance Range: $8.50 to $9.50.