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Newly-Acquired Brand, New Shopping Patterns, Boost Simply Good Foods

October 27, 2020: 12:00 AM EST
The Denver-based marketer of the Atkins and Quest lines of protein-rich and low-carb foods and shakes reports that sales in the summer grew 60 percent as quarterly profits doubled thanks to a new brand it acquired and to increased in-home snacking during the pandemic. The company reported fourth-quarter profits of $12.4 million, or 12 cents a share, on $222.3 million sales in the three months ended August 29. The company’s $1 billion acquisition of the Quest line of low-sugar, high-protein foods drove sales growth in the quarter, though sales of the company's Atkins brand snacks and meal replacement products declined by eight percent. The company attributed the slide in Atkins sales to less weight-consciousness in the pandemic and increased time at home. About 40 percent of the Atkins brand products are typically eaten outside the home, the company said.
Greg Avery, "COVID-19 snacking drives Simply Good Foods sales growth", Denver Business Journal (Colorado), October 27, 2020, © American City Business Journals
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