Mondelez International Inc. said it gained ground on competitors last year, as shoppers spending time at home during the pandemic bought more of its cookies and snacks.
The Chicago-based maker of Oreos and Triscuits said Thursday that comparable sales rose 3.2% annually in the fourth quarter, in line with expectations. Sales growth by that measure moderated somewhat from earlier in the pandemic, especially in North America. Shares were steady after hours at $57.34.
“We enter 2021 in a strong position financially and in the marketplace,” said Chief Executive Dirk Van de Put in a statement.
Consumers of all income levels are spending more for name brands during the pandemic, according to market-research firm IRI. Fewer options for leisure and dining out are giving people more to spend on indulgent grocery items, the firm said.
Mondelez has previously said it plans to spend more on marketing this year to maintain the unusually strong sales growth brought on by the pandemic for many of its products in the U.S.
