| Smucker reports 1Q drop in sales, profit Lower prices, more promotions cited for 2% revenue dip
Plain Dealer (Cleveland, OH), August 23, 2014 Saturday
The J.M. Smucker Co., the Wayne County maker of Folgers Coffee, Jif Peanut Butter and Smucker fruit spreads, said sales and profits were down slightly for the first quarter of fiscal 2015, but expects better news for the rest of the year. For the fiscal first quarter that ended July 31, net sales dipped 2 percent to $1.32 billion, down from $1.35 billion in the same period last year, according to an earnings report released Wednesday.