- J.M. Smucker (SJM) says volume increased 1% during FQ1 as the impact of exiting a private label hot beverage business was felt.
- Segment revenue growth: U.S Retail Coffee -1%; U.S. Retail Consumer Foods +1%; International -6%.
- Gross profit as a percentage of sales rose 220 bps to 36.5% as a favorable mix in the U.S. Retail coffee segment boosted results.
- The company raises its FY14 EPS outlook to $5.72-$5.82, up from prior guidance of $5.65-$5.75. (PR)
More on J.M. Smucker's FQ1
Aug 21 2013, 07:59 ET