Lamb Weston Stock Tumbles on Earnings Miss and System Change
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.