USA: Fleming cuts Q4 earnings outlook
The top US wholesale food distributor, Fleming, has cut its fourth-quarter earnings outlook due to weak sales, higher meat prices and employee costs. The Texas-based company no expects to post fourth-quarter earnings from continuing operations of US$5m to $6m, or 10 cents to 12 cents per share, on sales of around $4.08bn. Analysts polled by Thompson First Call had forecast earnings of 31 cents per share on revenue of $3.98bn.
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