About Gerald Shreiber
Gerald Shreiber, founder and chairman emeritus of J&J Snack Foods, has been involved in philanthropic and business activities. In April 2024, the Rowan University Shreiber School of Veterinary Medicine held its groundbreaking, named after Shreiber following a donation he described as representing "everything I’m passionate about." Shreiber, who lives on a farm with rescue animals, stated that the gift was intended to help make veterinary education more affordable and to address a shortage of veterinary professionals in New Jersey.
In September 2024, J&J Snack Foods CEO Dan Fachner discussed the company's performance on CNBC, noting that the company has seen volume growth and pricing power. Fachner stated that the company has been resilient during economic downturns, describing its products as "a reward" for consumers who may forgo larger purchases. Regarding the potential impact of weight loss drugs, Fachner said the company has "seen no effect of that at all on our business" but is monitoring the situation.
Source: AI-verified profile updated from Gerald Shreiber's recent appearances.
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Transcript (13 segments)
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Host0:00
Session here. Chris, thanks for joining us.
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Host0:06
Sticking with the consumer, how bad can it be? It's J&J popping, nearing their best day of the year. They own Dip and Dust, Super Pretzel, and they saw strength from theme parks to supermarkets. They also have seen volume growth and pricing power into next year. Let's bring in the CEO Dan, great to have you here. Welcome.
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Dan0:34
Nice to be here. Thank you for having me.
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Host0:35
Are you a little unnerved after hearing from our retail analyst? Do you think you're the cleanest shirt in the dirty laundry?
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Dan0:45
We might be. Listening to it, it certainly sets you back a little bit, but I think the great thing about J&J, and it kind of ties in with what you were just talking about, we're sold in such diversified places with iconic brands that we can withstand the puts and takes of the consumer today.
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Host1:07
What gives you the confidence going into next year in particular? You could have come out with a beat but much more cautious guidance.
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Dan1:14
We feel good about the momentum we have coming into 2024. We have been working really hard at building up capacity and capabilities inside our organization. With that capacity and capabilities, we're seeing some nice growth in just about every one of our segments, and we feel good about 2024.
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Host1:34
So I do want to close by asking you about the weight loss drugs, but I want to get a handle on what is driving the consumer strength. You are relatively a low-cost item. It doesn't necessarily break the bank, but you're discretionary. Maybe for a lot of people that purchase is not necessary, or that extra ICEE at the game they could forego. Would you typically expect to see volumes start to fall if the consumer was really weakening here?
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Dan2:02
We've been resilient during times like that in the past. I think the reason we are is just the opposite of what you said. We're kind of a reward for a lot of cases where you might not be able to go on vacation or buy the new car, you might not buy the new house, you can afford a Dip and Dots, you can afford an ICEE. So just the opposite of that, we feel resilient when times like this come around.
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Host2:28
And there's the experiential element of this. People will find some of these branding. What about, though, the impact of weight loss drugs? Again, these might be areas that people used to snack heavily on and not so much going forward.
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Dan2:43
We're watching that closely. To date, we have seen no effect of that at all on our business, but we're going to watch it. We're smart in the way that we operate, we're smart in the way that we put the right products out. If we see reaction to...
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Gerald Shreiber2:57
If we see reaction to...
