J.M. Smucker Co. said sales in its pet business are dragging, a fresh sign of trouble in a unit the food maker was counting on to help make up for slack packaged-foods demand.
Shares in the food maker rose 5% on Friday after profit for the latest quarter topped expectations. But Smucker also cut its forecast for net sales in the current fiscal year to a 3% drop, from previous expectations for roughly flat sales by that metric.
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