Lamb Weston Stock Tumbles on Earnings Miss and System Change
TL;DR Summary
Shares of Lamb Weston Holdings plunged 19.4% after the company reported weaker-than-expected quarterly results, citing challenges related to a new enterprise resource planning (ERP) system and soft near-term restaurant traffic trends. The company reduced its full-year outlook for net sales and adjusted earnings per share, but management reassured investors that the underperformance was a temporary issue.
Topics:business#erp-transition#finance#food-processing#lamb-weston-holdings#quarterly-results#stock-market
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