J.M. Smucker reports 7% dip in Sweet Baked Snacks sales for the quarter
Sweet Baked Snacks net sales for the quarter ended July 31 fell 7% year over year to $236.5 million, while segment profit dropped 13% to $29.9 million, J.M. Smucker said. Mark Smucker linked the decline to prior-year SKU rationalization and weaker convenience store sales, though US retail net sales rose low-single digits with pricing gains offsetting higher costs and unfavorable volume.