US: Second price hike for J&J Snack Foods
J&J Snack Foods is set to increase prices across many of its product lines due to continuing commodity cost pressure.
The price increases, due in April, will be as high as 12% , the US firm said today (27 February) and will centre on products particularly impacted by increases in wheat and dairy costs.
The move will be J&J's second price increase in six months as it attempts to recover more of the commodity cost increases that have hit its margins.
Gerald Shreiber, J&J's president and CEO, said: "While we continue to manage our company for the long term and are sensitive to the impact on our customers, we feel it necessary to take this additional pricing action because commodity costs have escalated sharply since we announced our previous price increase.
"We will not allow our margins to deteriorate further without attempting to at least partially offset the continuing cost increases. While we hope that the commodity prices impacting us have reached their peak, we will evaluate the need for further pricing if commodity prices continue to escalate or our margins continue to decrease."
The company have not declared how much of the overall commodity costs increase will be recovered.
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