- Pinnacle Foods (NYSE:PF) announces that it will exit certain Aunt Jemima frozen breakfast products in reaction to the company's voluntary recall of products last week. The specific Aunt Jemima frozen retail products being exited reflect 16 SKUs across frozen waffles, frozen french toast slices and frozen pancakes.
- The company says the decision is part of its ongoing portfolio strategic assessment and margin assessment.
- "The decision to exit these products now was the appropriate action for Pinnacle. It is consistent with our plans to enhance the on-going margin of the Company and focus our efforts and investments on more profitable growth opportunities longer term," says CEO Mark Clouse.
- The company reaffirms 2017 EPS guidance of $2.55 to $2.60.
- Source: Press Release