date:Mar 26, 2020
positive organic net price realisation and mix offset by lower organic volume.
Gross margin increased 80 basis points to 34.6 per cent of net sales. Adjusted gross margin of 34.8 percent was 70 basis points above the prior year, driven primarily by favourable net price realisation and mix and last years one-time purchase accounting inventory adjustment related to the Blue Buffalo acquisition, partially offset by higher input costs.
Operating profit of $2.1 billion increased 18 per cent from