Decreased pandemic-era pantry-stocking and rising raw material and transportation costs are expected to see food giant J.M. Smucker's sales slip 2 to 3 percent this year, the company told investors Thursday (June 3), noting that slower uptake of the back-to-work trend has helped its coffee sales.
In announcing its fourth-quarter results for the three months ending April 30, Smucker's said profits for U.S. retail coffee fell 9 percent from a year ago, though the company spoke to strength in the category, which includes Folgers , Café Bustelo and Dunkin's at-home packaged coffee .
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