Innovation part of year-long celebration at Snyder's-Lance
by Eric Schroeder
CHARLOTTE, N.C. — Snyder’s-Lance, Inc. will celebrate the 100-year anniversary of its Lance sandwich crackers this year with several new products.
In a Feb. 12 conference call with financial analysts to discuss fiscal 2012 results, Carl Lee, president and chief operating officer of Snyder’s-Lance, unveiled plans for a new premium-filled sandwich cracker as well as other additions to the product pipeline.
“We will be introducing a very exciting new product called Xtra Fulls,” Mr. Lee said. “It’s a premium-filled sandwich cracker that gives our consumers more of what they like.”
The “more of what they like” includes peanut butter, a filling that Mr. Lee said is “something that (consumers) have always asked for.”
Innovation on tap for 2013 also includes new flavors of the company’s Nekot cookies, which Mr. Lee expects to be “a big hit.”
Mr. Lee said Snyder’s-Lance is confident that new product development such as Xtra Fulls and Nekot cookies will contribute to a healthy 10% to 12% increase in year-over-year sales, but added that the company also will continue to focus on “blocking and tackling.”
“The efforts to secure more space in our key customers is well under way,” he said. “Working on our display coverage and our execution there is important. (We are) working on the number of ACV coverage, working on the number of items that we stock per store. All of that is well under way as well. So it’s going to be driven by our advertising, our new products and our retail execution.”