The company reported nearly 5% net sales and volume growth in the second quarter ended June 30, 2024, primarily driven by an 18% increase in advertising spend, innovation across multiple categories, and more restrained pricing compared to last year. Organic net sales grew 9%, consisting of 5% volume growth and 4% pricing, and it primarily offset currency headwinds. We anticipate organic net sales to expand a moderate mid-single-digit percent going forward; moreover, we anticipate volumes will drive growth as inflation across the supply chain lessens and consumers seek greater value in more affordable channels. We believe the company will continue to grow advertising spending, though the pace will likely decelerate following growth of high-teens percent in 2023 and year-to-date 2024.
