Packaged Food Maker J.M. Smucker Forecasts Annual Profit Below Estimate
Jif peanut butter maker J.M. Smucker forecast annual profit below the estimate on Tuesday, as sequential price hikes have been squeezing demand for its dog snacks and sweet baked goods.
Shares of Orrville, Ohio-based company were down about 7% in premarket trading.
Packaged food makers, including J.M. Smucker, Kraft Heinz and Campbell's Co, have been raising product prices to counter higher costs from commodities, such as green coffee, which have hurt their sales.
J.M. Smucker is among the firms that have been facing the brunt of the...
To Read Full Story Login Below.
Submit comment or question
Note: All comments are displayed with user's screen name. If screen name is not present, user's full name will be used. Please go to My Account to update your screen name.
Comment Policy: Urner Barry has made the comment feature available to encourage further discussion of our news stories. Defamatory or offensive comments, or comments deemed not relevant to the story will be removed, and if necessary, Urner Barry may restrict the right of individual subscribers to offer comments. In all cases, comments represent opinions of the poster only, and do not represent fact, news, opinions or estimates put forward by Urner Barry.
Email Address is required. Password is required.