Reported 3 days ago
Conagra Brands has revised its annual profit and operating margin forecasts downward, attributing the changes to supply constraints and unfavorable foreign exchange rates. The company reported interruptions in customer service for frozen meals and vegetables, as consumers shift to cheaper private-label brands due to rising grocery prices. As a result, Conagra now anticipates an annual adjusted profit of $2.35 per share, down from previous estimates.
Source: YAHOO