Smucker Shares Fall, but Consumer Staples Are Poised to Bounce

J.M. Smucker Co.’s shares fell sharply after it reported earnings, dragging down the hot consumer-staples sector.

The food company’s executives said in Tuesday’s earnings report that falling prices for coffee and peanut butter, two key products, hurt results. Sales declined, and the company also lowered its forecast for the fiscal year as it faces increased competition in the pet-food segment. Smucker now expects sales to be flat or fall from the prior year, after initially expecting the figures to grow over that time frame.


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