date:May 19, 2014
lifornia.
A major improvement in the ingredient cost picture for Flowers may not last, Mr. Kinsey said. He offered deeper detail into the improved gross margins at Flowers during the first quarter and the downs and ups of commodity markets. Gross margins in the first quarter were 48.6%, versus 48.2% during the same quarter in 2013.
This 40-basis-point improvement as a per cent of sales was driven by a 120-basis-point improvement in input costs as a percent of sales, he said. This improvement w