Worthington, OH - Worthington Foods, Inc. announced retail sales of Morningstar Farms meat substitutes increased 32 percent for the most recent 4-week sales period according to IRI scanner data.
The category increased by 50 percent for the 4-week period ending on May 17, 1998, with Morningstar Farms' market share remaining at 48 percent compared with Gardenburger's 21 percent market share. During the last week of this 4-week sales period, sales of Morningstar Farms meat substitutes increased by 46 percent as the category grew by 73 percent; Morningstar Farms' market share held at 43 percent.
"We are very pleased with retail sales movement during this second quarter," according to Dale Twomley, President and CEO. "Never has the category and our sales increased at these rates. Without doubt, our targeted advertising programs and increased awareness created by the competition have been of tremendous benefit to sales for all of us in the meat alternative category."
The Foodservice Division and total sales for Worthington Foods have also benefited from the increased marketing activities in the meat alternative category. The Company expects continued benefits to sales in coming months as the result of Morningstar Farms coupons appearing in Sunday newspapers across the country and Morningstar Farms coupons placed in the hands of consumers at the check out register when they purchase any Gardenburger products.
Statements made in this release which state the Company's or management's intentions, hopes, beliefs, expectations, or predictions of the future are forward-looking statements. It is important to note that the Company's actual results could differ materially from those projected in such forward-looking statements. Additional information concerning factors that could cause actual results to differ materially from those in the forward-looking statements are contained in the Company's SEC filings, including but not limited to the Company's report on Form 1O-K and Annual Report for the year ended December 31, 1997. Copies of these filings may be obtained by contacting the Company or the SEC.
Worthington Foods, Inc., located in Worthington, Ohio, is the world's largest company solely dedicated to producing and marketing meatless and other healthful food products.
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