By Christopher Lombardo

Smucker is reporting Q1 net income of $183.6 million USD, compared with $109.8 million USD in the same period a year prior. The maker of Folger’s, Jif peanut butter, Smucker’s jam/jellies and Milk-Bone/Meow Mix reported that net sales slipped 4% to $1.81 billion USD from $1.87 billion USD. However, when excluding the net sales from its divested pet food brands and related manufacturing and distribution costs, as well as an unfavourable foreign currency exchange, the company’s net sales actually increased by 21%.

http://strategyonline.ca/2023/08/29/smucker-sees-promise-after-divesting-its-pet-brands/