All articles tagged with #input costs
Originally Published 1 year ago — by Bloomberg
Growth in the US services sector slowed for a second month in March, with the Institute for Supply Management's composite gauge dropping to 51.4, indicating expansion but lower than expected. The gauge of input costs also fell to a four-year low, largely due to a record low in the supplier deliveries index.
Originally Published 2 years ago — by Yahoo Finance
General Mills, the maker of Cheerios cereal, has cut its annual sales forecast and missed second-quarter estimates due to repeated price hikes on its products. The company warned of a slower recovery in demand as consumers opt for smaller pack sizes and cheaper alternatives. General Mills also lowered its profit growth forecast due to high input costs, primarily labor. The company's pet segment, including higher-end brands, has also struggled, with inventory destocking by pet food retailers impacting sales. Overall, the company expects its sales impact from price hikes to diminish as it moves into the backend of the fiscal year.
Originally Published 2 years ago — by Yahoo Finance
Campbell Soup maintained its full-year forecasts for sales and profit despite beating quarterly earnings, causing its shares to drop by as much as 9%. The company's move to raise prices to counter the impact of higher input costs led to a 5% rise in quarterly sales, but a 7% decline in total volumes signaled that Americans were moving away to private-label products that are more affordable. Campbell expects annual net sales to grow between 8.5% and 10%, with adjusted profit of $2.95 to $3 per share.