Warm September hurts Premier Foods sales



Premier Foods reported weaker-than-expected second-quarter sales and lowered its full-year outlook on Wednesday, saying a warm start to autumn hurt sales of gravies and some desserts.
Shares of Premier, which had gained around 40 percent since the end of June, were down 10 percent after the results' announcement.
The maker of Bisto gravy and Ambrosia creamy rice and custards said group sales fell 5.4 percent to 172.5 million pounds in the second quarter, ended Oct. 1, leading to a 1.8 percent decline for the first half.
Sales of its gravies and stocks fell 13 percent and sales of desserts... read more

 
12 October 2016 in Business, Views: 37
Source: Reuters
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