Reported about 8 hours ago
Cholula hot sauce producer McCormick has lowered its annual sales and profit forecasts, attributing this to ongoing decreased demand for spices and condiments, particularly in China, alongside rising marketing expenses. The company anticipates adjusted profit growth between 3% to 5%, below the expected 6.5%, and expects flat to 2% sales growth for fiscal 2025, despite having reported stronger-than-expected sales and profit results for the latest quarter. McCormick's stock has seen a minor decline following these projections, reflecting concerns over budget-conscious consumers and potential import tariffs on its key ingredients.
Source: YAHOO