Retail Channel Success
Volumes and sales grew in the retail business during Q1 2025, supported by targeted promotional activities and new product innovations, such as the Sea Cuisine shrimp skewers. The U.S. retail market saw notable growth with brands like Fisher Boy and Sea Cuisine outperforming the category.
Innovation and Product Development
High Liner Foods increased focus on innovation, introducing new products such as Sea Cuisine shrimp skewers and Cheddar Biscuit Tilapia, which have been well-received in the market. The company is also leveraging alternative species to combat price and supply challenges.
Operational Performance and Strategic Initiatives
The company has implemented effective promotional strategies and operational improvements, maintaining a stable gross margin percentage despite various headwinds.
Strong Start to Q2 2025
Despite the challenges in Q1 due to the late timing of Lent, the company reported strong performance in April 2025, setting a positive tone for Q2.