J M Smucker Co (SJM.N)
J.M. Smucker Co's sales fell more than expected for the second quarter in a row, hurt by lower demand for Folgers coffee, Jif peanut butter and pet foods such as Kibbles 'n Bits.
Nov 17 J.M. Smucker Co's sales fell more than expected for the second quarter in a row, hurt by lower demand for Folgers coffee, Jif peanut butter and pet foods such as Kibbles 'n Bits.
BRIEF-J M Smucker in presentation- Expect coffee net sales to decline in FY2017 due to lower pricing
* In presentation- expect increased trade and marketing spend in pet foods in second half to support brand launch
* Company maintained its full-year fiscal 2017 net sales, earnings, and free cash flow outlook
Nov 17 J.M. Smucker Co's quarterly sales decreased more than expected due to lower demand for pet foods such as Kibbles 'n Bits and Meow Mix brands as well as for Folgers coffee and Jif peanut butter.
* Sets dividend of $0.75 per share Source text for Eikon: Further company coverage:
Folgers coffee-maker J.M. Smucker Co reported a bigger-than-expected drop in quarterly revenue as it struggled to sell its pet foods such as Kibbles 'n Bits and Meow Mix in an intensely competitive market.
* Shares down 9 percent (Adds details from conference call, updates shares)
BRIEF-J M Smucker - do not have a place in mass premium pet foods, continue to evaluate acquisitions or licensing there
* On conf call - expect softness in pet foods to continue in near term
NEW YORK There is "a lot of coffee" on farmers' fields in top-grower Brazil, and J.M. Smucker Co, the biggest U.S. coffee roaster, is comfortable with cuts to retail prices it made earlier in the year, an executive told investors on Tuesday.