Smucker’s and Conagra say the number of promotions will decline in the coming months
by Tonya Garcia
JPMorgan says food companies have started to talk about reducing the number of promotions they offer, and Mondelez International Inc., Kellogg Co. and plenty of other businesses stand to benefit.
With people across the U.S. staying home more, diners are eating in, sending flocks of shoppers to retailers like Kroger Co. US:KR , Costco Wholesale Corp. US:COST , Walmart Inc. US:WMT and others.
Though shoppers may be done with their initial stockpiling, which sent sales of grocery and household necessities soaring in March, analysts say they’ll likely maintain shopping activity to replenish essential items.