USA :J & J Snack Foods Comments on Recall
Gerald B. Shreiber, Chief Executive Officer and Chairman, commented, "Although it is too early to assess the full consequences of the recall, we are confident that it will not have a long term impact. However, we expect that it will impact earnings for this year and make it difficult for J & J to increase earnings in our fiscal year 2000 above the $1.50 per share we earned in fiscal year 1999." Mr. Shreiber added, "We have the full confidence and support of The Minute Maid Company going forward and we feel strongly that we will minimize the effects of this incident in time. We expect sales of our Minute Maid brand licensed products to be a significant contributor the balance of this year and to grow significantly in the years ahead."
J & J Snack Foods Corp.'s principal products include SUPERPRETZEL soft pretzels, ICEE and ARCTIC BLAST frozen beverages, LUIGI'S, MAMA TISH'S, SHAPE-UPS, Minute Maid and Hi-C® frozen juice bars and ices, TIO PEPE'S churros and MRS. GOODCOOKIE and CAMDEN CREEK cookies. J & J has manufacturing facilities in Pennsauken, New Jersey; Scranton and Hatfield, Pennsylvania; Carrollton, Texas and Vernon (Los Angeles), California.
The forward-looking statements contained herein are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected in the forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which reflect management's analysis only as of the date hereof. The Company undertakes no obligation to publicly revise or update these forward-looking statements to reflect events or circumstances that arise after the date hereof.
Minute Maid and Hi-C are registered trademarks of The Coca-Cola Company.
- Comment: Meal kits in US - don't believe the hype
- Why personalisation will take-off in US food
- US food next wave on display at Winter Fancy Food
- Interview: The Soulfull Project's mission
- General Mills sales woes continue - analysis
- Post Holdings 'close to acquiring Weetabix'
- Kraft Heinz cuts jobs in US, Canada
- UK, EU food faces "more costly" trade, warns study
- Recipe-kit firm HelloFresh launches into UK retail
- UK sets 20% sugar cut guidelines for food industry