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SJM - J.M. Smucker +3% after earnings topper guidance lift
J.M. Smucker Company
J.M. Smucker (NYSE:SJM) sees revenue growth of 0% to +1% in FY20 vs. a prior guidance range of -2% to -1% and -2.0% consensus. The company says the guidance boosts reflects elevated at-home consumption and retailer inventory re-stocking in FQ1 primarily benefiting the U.S. Retail Coffee and U.S. Retail Consumer Foods segments, with net sales growth anticipated to moderate throughout the remainder of the fiscal year.
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