USA: Lance sees Q1 loss on weak demand
US snack maker Lance has lowered its full-year earnings forecast and said it would discontinue certain snack products due to weak demand. The company said it now expects an US$8.4m pre-tax charge in the first quarter related to the decision to halt distribution of its Poppers line of mini sandwich crackers and cookies. Lance said that together with $1.1m in severance costs, charges would likely total 20 cents a share for the quarter, reported Dow Jones News Service.
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