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The Simply Good Foods Co - Stock Quote SMPL

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Morningstar's The Simply Good Foods Co Stock Analysis

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Simply Good Foods Is Well Positioned for Pandemic Recovery, but Moat Remains Elusive

Business Strategy and Outlook

| Rebecca Scheuneman, CFA |

We expect Simply Good Foods to average 7% organic sales growth the next 10 years, in line with the nutritional snacks category. The firm’s lineup of nutritional bars, shakes, and treats is well aligned with consumer preferences for high protein and low sugar, on-the-go formats, and snacks. The Atkins brand (45% of fiscal 2021 sales) experienced revenue acceleration the years preceding the pandemic as the brand expanded its target market from the 8 million program dieters to the 33 million people seeking to reduce their intake of carbohydrates without following a regimented diet. Quest (55% of revenue) operates in the complementary sports nutrition segment, also producing high-protein low-sugar bars, treats, chips, and other food items.

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The Simply Good Foods Co's Company Profile

Business Description

Simply Good Foods provides low-carbohydrate, high protein bars, shakes, and other products such as confections, chips, and cookies under the Atkins and Quest brands. The firm also licenses its brand to Bellisio Foods, which produces frozen meals and pizza. Atkins products are modeled after the philosophy of Dr. Robert Atkins, whose 1972 book, "Dr. Atkins’ Diet Revolution," conferred the benefits of a high protein/low carbohydrate diet, and is credited with launching the low-carb diet trend. Quest, acquired in November 2019, also follows the high protein/low carbohydrate philosophy and targets active lifestyle consumers. Ninety-six percent of the firm's sales occur within North America.

1225, 17th Street, Suite 1000
Denver, CO, 80202
T +1 303 633-2840
Sector Consumer Defensive
Industry Packaged Foods
Most Recent Earnings Feb 28, 2022
Fiscal Year End Aug 31, 2021
Stock Type Speculative Growth
Employees 263