- J.M. Smucker (NYSE:SJM) reports net price realization accounted for a 3 percentage point drop in sales during FQ1.
- Increased promotional activity in the U.S. Retail Coffee segment was a large factor in the sales drop.
- Gross profit rate -30 bps to 36.2%.
- Segment sales growth: U.S. Retail Coffee -2% to $502.7M; U.S. Retail Consumer Foods -3% to $522.8M; International, Foodservice, and Natural Foods -1% to $298.3M.
Lower coffee pricing clips profits at J.M. Smucker
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Symbol | Last Price | % Chg |
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SJM | - | - |
The J. M. Smucker Company |