Conagra Forecasts Downbeat Annual Profit on Tariff Hit

Slim Jim snack maker Conagra Brands forecast annual profit below expectations on Thursday, anticipating higher costs of ingredients due to U.S. tariffs.

Macroeconomic uncertainties due to U.S. President Donald Trump's trade tariffs have lowered consumer spending. More people are choosing cheaper private-label brands over Conagra's products.

The trend could accelerate as Conagra hikes prices to offset the higher cost of ingredients like cocoa, olive oil and palm oil, and packaging material like steel and aluminum, due to the tariffs.

The company expects tariffs to bump up costs by about 3% annually...

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