US: Profits slow at J&J as weather hits snack firm
J&J claimed sales have improved with better weather
J&J Snack Foods, the US biscuit-to-pretzel maker, has reported slower growth in quarterly sales and profits amid the "severe" weather in the country earlier this year.
For the second quarter to 29 March, net earnings increased 7% to US$13.5m. Operating income grew 6% to $20.3m. The improved profits came on a 2% rise in sales to $205.3m.
"Even though our sales and earnings were up for the quarter, we were impacted by the severe weather during the period," J&J president and CEO Gerald Shreiber said.
The sales and profit growth reported in the second quarter was slower than in the first three months of J&J's financial year.
First-half net earnings increased 13% to $25.9m. Operating income climbed 12% to $38.3m. Sales were up 4% at $408.8m.
However, Shreiber said J&J had seen sales improve amid better weather as the US moved into spring.
"It appears that the thaw into spring has helped spring our sales back to higher levels as sales for our first three weeks of April were up 8% over our sales for the first three weeks of last year's April," he said.
Click here for the full statement from J&J.
- Mondelez results and outlook - 7 things to learn
- Comment: Hain Celestial cognisant of US challenges
- Talking shop: Wal-Mart overhaul, Lidl's US charge
- What should you learn from 2015 olive oil prices?
- Why Lactalis swooped for Romanian dairy Albalact
- Mondelez continues to see margins up, sales mixed
- China eyes further infant formula restrictions
- Unilever launches eggless Hellmann's mayo in US
- Unilever launches dairy-free Ben & Jerry's in US
- Premier Foods launches "first" American wet sauces