Jefferies Downgrades J.M. Smucker (SJM) to Hold
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The J. M. Smucker Company Announces Fiscal 2016 Fourth Quarter Results and Fiscal 2017 Outlook
June 9, 2016 7:00 AM EDTORRVILLE, Ohio, June 9, 2016 /PRNewswire/ -- The J. M. Smucker Company (NYSE: SJM) today announced results for the fourth quarter ended April 30, 2016, of its 2016 fiscal year. All comparisons are to the fourth quarter of the prior fiscal year, unless otherwise noted.
EXECUTIVE SUMMARY
Net sales increased 25 percent in the fourth quarter, reflecting the incremental contribution from Big Heart Pet Brands ("Big Heart"), acquired during the fourth quarter of fiscal 2015, and growth within the U.S. Retail Coffee segment. Net sales adjusted for noncomparable items increased 5 percent.... More