The company's Accelerate strategy focuses on building brands, innovating, leveraging scale, and standing for good, prioritizing core markets, global platforms, and local gem brands with the best prospects for profitable growth.

The company is committed to reshaping its portfolio through strategic acquisitions and divestitures to enhance its growth profile, including a recent acquisition in the pet food business in Europe.

The company's fiscal 2024 performance was hindered by an uncertain macroeconomic environment, resulting in greater-than-expected value-seeking behaviors by consumers, and did not achieve its objective of holding or growing market share in more than 50% of its global priority businesses.

The company successfully improved its supply chain efficiency, generating industry-leading Holistic Margin Management (HMM) cost savings and removing significant disruption-related costs.

The company maintained a disciplined approach to capital allocation, driving increased operating cash flow that was used to grow capital investment, raise the dividend, and increase share repurchase activity.

The company delivered mixed performance against the three priorities established at the beginning of the year: competing effectively, improving supply chain efficiency, and maintaining disciplined capital allocation.

The company faces strong competition from manufacturers and retailers with their own branded and private label products, with competition based on product innovation, quality, price, and brand recognition.

Consolidation in the grocery industry has resulted in customers with increased purchasing power, potentially impacting the company's profitability and volume growth.

The company's profitability is subject to price volatility of raw materials, packaging, and energy, which could result in unexpected increases in costs and reduced margins if not managed effectively.

The company's principal competitors include manufacturers and retailers with their own branded and private label products, which are often sold at lower prices.

Competition in the company's product categories is based on product innovation, product quality, price, brand recognition and loyalty, effectiveness of marketing, and the ability to satisfy consumer preferences.

If large competitors seek an advantage through pricing or promotional changes, the company may choose to do the same, which could adversely affect margins and profitability.

The company's future success and earnings growth depend on its ability to be efficient in production and reduce costs through productivity gains or by eliminating redundant costs.

Manufacturing realignment initiatives may result in the interruption of production, which may negatively impact product volume and margins.

The company periodically engages in restructuring and cost savings initiatives designed to increase efficiency and reduce expenses, but may not realize all anticipated benefits.

The company continues its focus on developing and marketing innovative, proprietary products, many of which use proprietary expertise, recipes, and formulations.

The company relies on information technology networks and systems to manage various business processes and to comply with regulatory, legal, and tax requirements.

Increased cybersecurity threats pose a potential risk to the security and viability of the company's information technology systems, as well as the confidentiality, integrity, and availability of the data stored on those systems.

The company's primary source of liquidity is cash flow from operations, which is used to fund capital expenditures, acquisitions, and debt service.

A substantial portion of the company's operating cash flow is returned to shareholders through dividends and share repurchases.

The company expects capital expenditures to be approximately 3.5% of reported net sales in fiscal 2025, to fund growth, support innovation, and continue HMM initiatives.

The company's operations are subject to various federal, state, local, and foreign environmental laws and regulations.

The company is committed to maintaining a safe and secure workplace for its employees, setting specific safety standards to identify and manage critical risks.

The company has announced goals and commitments to reduce its carbon footprint, and failure to achieve these goals could harm its reputation.

The company's sales are dependent on economic conditions, and consumers may purchase more generic or private label products during economic uncertainty.

The company's international operations are subject to various risks, including political and economic instability, exchange controls, tariffs, and compliance with anti-corruption regulations.

The company's facilities and products are subject to many laws and regulations, and failure to comply could lead to lawsuits, administrative penalties, and civil remedies.