Repeat pull from proven relationships plus room left

Tyson Foods, Inc. (TSN) — this company's answers

The model's full reasoning — Q2 2023 call → NOWe need to determine if management describes existing customers/accounts that have already been served and proven, and that these same relationships are currently, on their own initiative, taking or committing to meaningfully more than before, and that these relationships remain lightly penetrated with room to expand. The answer must be YES only if both halves are present in management's own words as a coherent present-tense story. Let's analyze the transcript. Management discusses growth in various segments. Key points: - In Chicken, they mention growing volume, gaining share, improving fill rates, and winning with customers. They mention "we're building long-term supply partnerships that have clear benefits for both sides." They improved order fill rates by more than 20%. They mention "we sold everything we processed plus another 100 million pounds." That suggests existing customers are taking more? But is it specifically about existing relationships deepening? They talk about "winning with customers" and "being their go-to supplier." They mention "we continue to grow both pound and dollar share" in retail. But is that from existing customers taking more? Or from new customers? They mention "we increased our internal production, gaining 130 basis points of harvest share compared to last year. This led to pound share gains of 250 basis points in value-added retail and 60 basis points in food service." That indicates they are gaining share, but that could be from new customers or existing customers increasing purchases. They also mention "we're now filling over 99% of what we call our core 8 retail products." That suggests they are meeting demand. - In Prepared Foods, they mention "our retail brands like Jimmy Dean, Hillshire Farm and State Fair continue to deliver industry-leading performance, outpacing all peers in both revenue and volume growth." They mention "the strong performance of our retail brands, driven by their category-leading position, improved supply and our MAP investments." They also mention "we continue to grow both pound and dollar share" in retail. But again, is that from existing customers? They mention "we're proud to have been moved up into the top 10 for the first time ever in the most recent Kantar power rankings." That is about customer relationships, but not necessarily about existing customers taking more.

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