Flowers Foods, Inc. (NYSE:FLO) Q4 2023 Earnings Call Transcript

Connor Rattigan: Okay. Got it. Hopefully, you can hear me a little bit better now. Also so on Dave’s Killer bread, so it sounds like things are going great with the bars. I guess just my question is, on the 98,000 stores called out in the prepared remarks, could you maybe help us contextualize that number a little bit? I guess just maybe how much more room is there to run on distribution or maybe a quarter of the way there? And are there maybe any channels lagging behind others that you view as an opportunity?

Riyals McMullian: Yes. I mean, the ACV is still pretty low, Connor. So we’ve got a lot of runway. We’ve got more opportunity in club. I think we mentioned convenience, which we really haven’t even tapped into yet. We started in our areas of strength in mass and grocery. So we’ve still got a lot of runway ahead of us. I don’t have the number in front of me, but I want to say that ACV is somewhere still in the 30s. Is that directionally right? I think that’s — we’ll double-check that, but I think that’s pretty close. So we’ve got a lot of runway. And to give you a comparable, DKB is somewhere in the 75-ish ballpark from an ACV standpoint, just to give you something to compare it to.

Operator: And I’m currently showing no further questions at this time. I’d like to hand the conference back over to Mr. Riyals McMullen, Chairman and Chief Executive Officer for closing remarks.

Riyals McMullian: Okay. Norma, thank you. I just want to thank everybody for taking time today and joining us for questions. We very much appreciate your interest in our company. And as always, we look forward to speaking with you again next quarter. Everybody, take care.

Operator: This concludes today’s conference call. Thank you for your participation. You may now disconnect. Everyone, have a wonderful day.

Riyals McMullian: Thanks, Norma.

Steve Kinsey: Thank you.