date:Jul 28, 2014
umable pack types, are off to a good start with trial and repeat tracking to expectations.
Second quarter adjusted gross margin declined 230 basis points as input cost inflation, due primarily to higher dairy costs, and unfavorable sales mix more than offset supply chain productivity and cost savings initiatives. As the company has previously stated, there is not a well-developed futures market to hedge dairy requirements, therefore, volatile and extended dairy price spikes impacted gross margi