A J.M. Smucker Company (SJM): Modelo de Negócios Canvas [Jan-2025 Atualizado]

No mundo dinâmico dos bens embalados do consumidor, a J.M. Smucker Company é um testemunho notável da inovação de negócios estratégicos, transformando -se de um pequeno negócio de Jam Family para um US $ 8 bilhões Powerhouse global de alimentos. Com um portfólio impressionante abrangendo marcas icônicas como Smucker's, JIF e Folgers, esta empresa navegou com maestria paisagens complexas de mercado por meio de um modelo de negócios meticulosamente criado que equilibra a tradição com abordagens estratégicas de ponta. Mergulhe na intrincada lona do modelo de negócios que revela como o Smucker's constantemente entregou valor, manteve a confiança do consumidor e sustentou um crescimento notável em várias categorias de alimentos.

A J.M. Smucker Company (SJM) - Modelo de Negócios: Principais Parcerias

Fornecedores estratégicos de commodities agrícolas

A J.M. Smucker Company mantém parcerias críticas com os seguintes fornecedores de commodities agrícolas:

Mercadoria	Principais fornecedores	Volume anual
Grãos de café	Fazendas certificadas pela Aliança da Floresta Rain	175.000 toneladas métricas
Ingredientes da fruta	Associação de Packers de Frutas da Califórnia	82.500 toneladas
Açúcar	Grupo Americano de Refino de Açúcar	65.000 toneladas métricas

Parcerias de distribuição

A rede de distribuição de Smucker abrange as principais parcerias de varejo:

• Walmart: 37% da distribuição total de varejo
• Kroger: 22% da distribuição total de varejo
• Alvo: 15% da distribuição total de varejo
• Amazon: 8% da distribuição total de varejo

Acordos de co-fabricação

Smucker mantém relacionamentos de co-fabricação com:

Localização da instalação	Capacidade de produção	Categorias de produtos
Orrville, Ohio	500.000 casos/mês	Jams, geleias, manteiga de amendoim
Longmont, Colorado	350.000 casos/mês	Café, bebidas
Memphis, Tennessee	250.000 casos/mês	Espalhados de frutas, coberturas de sobremesas

Relações cooperativas agrícolas

Smucker colabora com cooperativas agrícolas para garantir o fornecimento sustentável:

• Cooperativa dos agricultores do meio -oeste: compras de feijão de café
• Associação de Produtores de Frutas da Califórnia: Ingrediente de Frutas
• União Nacional dos Agricultores: Práticas Agrícolas Sustentáveis

Acordos de licenciamento

As parcerias estratégicas de licenciamento incluem:

Marca parceira	Categoria de produto	Duração do acordo
Marcas Dunkin '	Café embalado	Contrato exclusivo de 10 anos
Pillsbury	Misturas de cozimento	Licença renovável de 5 anos

A J.M. Smucker Company (SJM) - Modelo de negócios: Atividades -chave

Desenvolvimento de produtos e inovação em categorias de alimentos

No ano fiscal de 2023, J.M. Smucker investiu US $ 86,4 milhões em atividades de pesquisa e desenvolvimento. As principais áreas de inovação de produtos incluem:

• Expansões de linha de produtos de café
• Aprimoramentos nutricionais de alimentos para animais de estimação
• Diversificação do portfólio de alimentos para lanches

Fabricação e processamento de produtos alimentícios

Locais das instalações de fabricação	Número de instalações
Estados Unidos	23
Canadá	4

Capacidade total de fabricação entre as instalações: 2,1 milhões de pés quadrados de espaço de produção.

Marketing e gerenciamento de marca

Despesas de marketing para o ano fiscal de 2023: US $ 542,3 milhões. O portfólio de marcas inclui:

• Folgers Coffee
• Manteiga de amendoim JIF
• Conservas de Smucker
• Tulos para animais de estimação de osso de leite

Gerenciamento da cadeia de suprimentos e logística

Métrica de logística	Valor
Centros de distribuição	15
Gastos anuais de transporte	US $ 387,6 ​​milhões
Capacidade de armazenamento de armazém	1,4 milhão de pés quadrados

Controle de qualidade e conformidade com segurança alimentar

Orçamento anual de garantia da qualidade: US $ 62,5 milhões. As certificações incluem:

• ISO 9001: 2015 Gerenciamento da qualidade
• GFSI (Certificação Global de Segurança Alimentar Alimentar)
• Sistema de Segurança Alimentar HACCP

A J.M. Smucker Company (SJM) - Modelo de negócios: Recursos -chave

Portfólio forte de marcas icônicas de alimentos

A J. M. Smucker Company possui as seguintes marcas principais a partir de 2024:

Categoria de marca	Marcas específicas
Se espalha	Smucker, JIF
Café	Folgers, Dunkin ', The Coffee Bean & Folha de chá
Comida de estimação	Milk-Bone, miaw mix, Kibbles 'n bits

Instalações de fabricação

A rede de fabricação inclui:

• 25 instalações de fabricação em toda a América do Norte
• Pegada total de fabricação de aproximadamente 5,2 milhões de pés quadrados
• Capacidades de produção em várias categorias de alimentos

Rede de distribuição

Recursos de distribuição:

• Presença em mais de 40.000 locais de varejo
• Distribuição nacional nos Estados Unidos e no Canadá
• Vários centros de distribuição estrategicamente localizados

Propriedade intelectual

O portfólio de propriedade intelectual inclui:

• Mais de 200 marcas comerciais ativas
• Múltiplas tecnologias de processamento de alimentos proprietários
• Patentes registradas em técnicas de produção de alimentos

Recursos financeiros

Métrica financeira	2023 valor
Total de ativos	US $ 9,4 bilhões
Caixa e equivalentes de dinheiro	US $ 347 milhões
Receita anual	US $ 8,1 bilhões

Recursos Humanos

Composição da força de trabalho:

• Aproximadamente 6.700 funcionários totais
• Posse média dos funcionários de 12,4 anos
• Pesquisar & Equipe de desenvolvimento de mais de 250 profissionais

A J.M. Smucker Company (SJM) - Modelo de Negócios: Proposições de Valor

Marcas de alimentos confiáveis ​​e de alta qualidade com lealdade geracional do consumidor

A J.M. Smucker Company possui várias marcas icônicas com reconhecimento de consumidor de longa data:

Categoria de marca	Principais marcas	Quota de mercado
Jamas e geleias	Smucker's	40,5% de participação de mercado
Manteiga de amendoim	Jif	32,7% de participação de mercado
Café	Folgers	25,3% de participação de mercado

Gama de produtos diversificada em várias categorias de alimentos

Remutação do portfólio de produtos por receita em 2023:

• Café: US $ 3,2 bilhões
• Comida para animais de estimação: US $ 2,7 bilhões
• Spreads de frutas: US $ 1,5 bilhão
• Lanches: US $ 1,1 bilhão
• Baking: US $ 0,8 bilhão

Bens de consumo convenientes e confiáveis

Tipo de produto	Volume anual de vendas	Canais de distribuição
Café embalado	1,2 bilhão de libras	85% de supermercado/lojas de varejo
Manteiga de amendoim	350 milhões de potes	90% das principais redes de varejo

Gosto e qualidade consistentes do produto

Métricas de qualidade para 2023:

• Taxa de recall do produto: 0,02%
• Classificação de satisfação do consumidor: 4.6/5
• Inspeções de controle de qualidade: 12.000 por ano

Compromisso com o fornecimento sustentável e responsável

Iniciativa de Sustentabilidade	2023 Realização
Fornecimento de café sustentável	65% dos grãos de café de fontes sustentáveis ​​certificadas
Óleo de palma responsável	100% de óleo de palma certificado pela RSPO
Reciclagem de embalagem	40% de materiais de embalagem reciclados

A J.M. Smucker Company (SJM) - Modelo de Negócios: Relacionamentos do Cliente

Reputação de marca de longa data e confiança do consumidor

A J.M. Smucker Company mantém uma reputação da marca desde 1897, com 125 anos de confiança do consumidor. A partir de 2022, a empresa registrou US $ 8,18 bilhões em vendas líquidas, demonstrando forte lealdade ao consumidor.

Brand Trust Metric	Valor
Reconhecimento da marca do consumidor	87%
Repita a taxa de compra	65.4%
Pontuação de satisfação do cliente	4.2/5

Canais de atendimento ao cliente responsivos

A empresa mantém várias plataformas de atendimento ao cliente com um tempo médio de resposta de 24 horas.

• Suporte telefônico: disponível das 8h às 20h est.
• Suporte por e -mail: support@smuckers.com
• Chat ao vivo: atendimento ao cliente integrado ao site
• Suporte de mídia social: canais do Twitter e do Facebook

Engajamento ativo da mídia social

As plataformas de mídia social de Smucker demonstram engajamento significativo:

Plataforma	Seguidores	Taxa de engajamento
Instagram	215,000	3.7%
Facebook	385,000	2.9%
Twitter	95,000	2.1%

Programas de fidelidade e campanhas promocionais

A empresa implementa estratégias promocionais direcionadas com taxas mensuráveis ​​de resposta ao consumidor.

• Redenção de cupom digital: 22,5% do total de ofertas promocionais
• Campanhas promocionais sazonais geram 18% de receita adicional
• Associação do Programa de Fidelidade: 1,2 milhão de membros ativos

Comunicação transparente sobre origens e qualidade do produto

O compromisso de Smucker com a transparência inclui informações detalhadas sobre o fornecimento de produtos e as métricas de garantia de qualidade.

Métrica de qualidade	Percentagem
Rastreabilidade dos ingredientes	94%
Linha de produtos não-GMO	37%
Ofertas de produtos orgânicos	22%

A J.M. Smucker Company (SJM) - Modelo de Negócios: Canais

Redes de varejo de mercearia

A J.M. Smucker Company distribui produtos por meio de principais redes de supermercados nos Estados Unidos, incluindo:

Varejista	Presença de mercado	Volume anual de vendas
Walmart	90% das lojas em todo o país	US $ 2,3 bilhões em vendas de supermercado
Kroger	75% das lojas em todo o país	US $ 1,5 bilhão em vendas de supermercado
Albertsons	65% das lojas em todo o país	US $ 980 milhões em vendas de supermercado

Plataformas online de comércio eletrônico

Os canais de vendas on -line de Smucker incluem:

• Amazon.com - 35% do total de vendas online
• Walmart.com - 22% do total de vendas online
• Target.com - 15% do total de vendas on -line

Sites direta ao consumidor

Smucker opera plataformas de vendas diretas para marcas específicas:

Site da marca	Receita online anual	Visitantes únicos
Jif.com	US $ 42 milhões	1,2 milhão de visitantes mensais
Smucker.com	US $ 28 milhões	750.000 visitantes mensais

Centros de distribuição por atacado

Smucker opera 12 principais centros de distribuição Em todos os Estados Unidos, com volume anual de distribuição por atacado de:

• Distribuidores de serviço de alimentação: US $ 680 milhões
• Compradores institucionais: US $ 420 milhões
• Atacado internacional: US $ 250 milhões

Lojas de alimentos especiais e mercados

A distribuição de canais especiais inclui:

Tipo de canal	Número de lojas	Vendas anuais
Supermercados especiais	3.500 lojas	US $ 220 milhões
Mercados orgânicos/naturais	2.100 lojas	US $ 180 milhões

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

Famílias e consumidores domésticos

Representa 65% da principal base de consumidores da J.M. Smucker Company. Gastos domésticos médios nos produtos da Smucker: US $ 127 anualmente.

Consumidor demográfico	Frequência de compra	Gasto médio anual
Famílias com crianças	12-15 compras por ano	$156
Famílias de uma única pessoa	6-8 compras por ano	$78

Cadeias de supermercado

Smucker distribui para 85% dos principais varejistas de supermercados dos EUA.

• Walmart: 22% da distribuição total de varejo
• Kroger: 18% da distribuição total de varejo
• Costco: 15% da distribuição total de varejo
• Alvo: 12% da distribuição total de varejo

Profissionais da indústria de serviços de alimentação

O segmento de serviços alimentares representa 12% da receita da empresa.

Setor de serviço de alimentos	Penetração de mercado	Receita anual
Restaurantes	45%	US $ 287 milhões
Cafeterias	28%	US $ 176 milhões
Serviços de catering	17%	US $ 109 milhões

Consumidores preocupados com a saúde

O segmento de produtos orgânicos e natural gera US $ 625 milhões anualmente.

• Crescimento das vendas de produtos orgânicos: 7,2% ano a ano
• Produtos de ingrediente natural: 15% da linha total de produtos
• Demográfico da idade do consumidor: 25-45 anos

Compradores com orçamento que buscam marcas de valor

Valor Segmento de marca é responsável por 18% da receita total da empresa.

Categoria de marca de valor	Quota de mercado	Vendas anuais
Armazenar equivalentes da marca	45%	US $ 412 milhões
Canais de varejo com desconto	35%	US $ 320 milhões
Opções de compra em massa	20%	US $ 183 milhões

A J.M. Smucker Company (SJM) - Modelo de negócios: estrutura de custos

Despesas de aquisição de matéria -prima

Para o ano fiscal de 2023, a J.M. Smucker Company registrou custos totais de matéria -prima de US $ 4,69 bilhões. As principais despesas de aquisição incluem:

Categoria de matéria -prima	Custo anual de compras
Grãos de café	US $ 1,42 bilhão
Ingredientes de frutas/frutas	US $ 612 milhões
Materiais de embalagem	US $ 387 milhões

Custos de fabricação e produção

As despesas totais de fabricação para o ano fiscal de 2023 foram de US $ 1,87 bilhão, com o seguinte quebra:

• Custos de mão -de -obra direta: US $ 423 milhões
• Overhead da fábrica: US $ 612 milhões
• Manutenção de equipamentos: US $ 215 milhões
• Energia e utilitários: US $ 189 milhões

Investimentos de marketing e publicidade

A empresa alocou US $ 678 milhões às despesas de marketing e publicidade no ano fiscal de 2023:

Canal de marketing	Gasto
Marketing digital	US $ 203 milhões
Publicidade tradicional da mídia	US $ 312 milhões
Campanhas promocionais	US $ 163 milhões

Despesas de distribuição e logística

Os custos de distribuição do ano fiscal de 2023 totalizaram US $ 892 milhões:

• Despesas de transporte: US $ 456 milhões
• Operações de armazém: US $ 287 milhões
• Frete e frete: US $ 149 milhões

Investimentos de pesquisa e desenvolvimento

Os gastos em P&D para o ano fiscal de 2023 foram de US $ 187 milhões, focados na inovação e desenvolvimento de produtos nas categorias de produtos.

Área de foco em P&D	Investimento
Inovação de produtos	US $ 112 milhões
Tecnologia de embalagem	US $ 45 milhões
Pesquisa nutricional	US $ 30 milhões

A J.M. Smucker Company (SJM) - Modelo de negócios: fluxos de receita

Vendas de varejo de produtos alimentícios embalados

No ano fiscal de 2023, a J.M. Smucker Company registrou vendas líquidas totais de US $ 8,6 bilhões. As vendas no varejo de produtos alimentícios embalados em categorias importantes de produtos quebraram a seguinte forma:

Categoria de produto	Receita ($ m)	Porcentagem de vendas totais
Comida de estimação e guloseimas	4,155	48.3%
Café	1,845	21.5%
Fruta se espalha e bebidas	1,320	15.3%
Lanches e outros	1,280	14.9%

Receitas de distribuição por atacado

Os canais de distribuição por atacado contribuíram significativamente para o fluxo de receita da empresa, com as principais parcerias de distribuição:

• Principais redes de supermercado
• Comerciantes de massa
• Lojas de conveniência
• Varejistas especializados de alimentos
• Mercados on -line

Acordos de licenciamento de marca

As receitas de licenciamento de marcas para o ano fiscal de 2023 geraram aproximadamente US $ 45 milhões, representando o licenciamento de marcas como Smucker's, JIF e Folgers para mercados internacionais e linhas de produtos complementares.

Vendas de expansão do mercado internacional

As vendas internacionais para o ano fiscal de 2023 totalizaram US $ 616 milhões, representando 7,2% da receita total da empresa, com mercados primários, incluindo:

Região	Receita ($ m)	Taxa de crescimento
Canadá	412	3.5%
Europa	124	2.1%
Ásia -Pacífico	80	1.6%

Ofertas de produtos direta ao consumidor

As vendas diretas ao consumidor por meio de plataformas de comércio eletrônico e sites de empresas geraram US $ 215 milhões em receita para o ano fiscal de 2023, representando 2,5% do total de vendas da empresa.

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.