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Healthcare

J.M. Smucker raises sales outlook due to coronavirus-led stockpiling

April 20 (Reuters) - J.M. Smucker Co raised its annual sales and profit forecast on Monday due to “unprecedented” demand for its packaged foods, as consumers stockpiled to weather stay-at-home orders to curb the coronavirus pandemic.

The company said it expects net sales to fall 1% in the fiscal year ending April 30, 2020, compared with a prior forecast for a drop of 3%.

J.M. Smucker also said it expects adjusted earnings per share to exceed the high end of its previous forecast range of $8.10 to $8.30.

Reporting by Uday Sampath in Bengaluru; Editing by Devika Syamnath

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