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    Christopher Carey • Wells Fargo Securities

    Christopher Carey is the Head of Consumer Staples Research and Equity Analyst at Wells Fargo Securities, specializing in coverage of major consumer staples companies, including The Estée Lauder Companies and others in the household and personal products sector. He maintains a substantial coverage universe with experience in both buy and sell ratings, displaying notable investment calls such as a 719% return on Aphria, yet an overall success rate below 50% and an average return around -27.7% according to TipRanks and StockAnalysis performance metrics. Carey's career began at OMTRIX Inc, followed by analyst roles at FBR and Bank of America Merrill Lynch, before joining Wells Fargo Securities where he rose to lead the Consumer Staples Research group. He holds a BA from Boston College, an International MBA from the University of South Carolina's Darla Moore School of Business, and has professional fluency in English, French, and Spanish.

    Christopher Carey's questions to Kellanova (K) leadership

    Christopher Carey's questions to Kellanova (K) leadership • Q2 2024

    Question

    Christopher Carey from Wells Fargo Securities asked about the outlook for the European market, specifically how Kellanova plans to balance pricing, volume, and upcoming innovation like the Cheez-It launch. He also followed up on whether North American pricing would remain negative.

    Answer

    Chairman, President and CEO Steven Cahillane expressed confidence in Europe's growth for the second half, despite a challenging environment and tough Q2 comparisons. He noted strong back-half plans, including a football sponsorship and the highly anticipated Cheez-It launch in the U.K., which is expected to be a significant future growth driver. Regarding North America, Cahillane stated the pricing environment is rational, and the negative year-over-year price/mix reflects lapping a period of unusually low promotional activity due to supply constraints, not a new aggressive pricing strategy.

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