US snack maker Lance has lowered its full-year earnings forecast and said it would discontinue certain snack products due to weak demand.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Discover B2B Marketing That Performs

Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.

Find out more


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.


Lance announced in late February that it would cut around 300 jobs, equivalent to 6% of its workforce, as the company attempted to cut costs amid weak sales.


The company has now forecast a loss of 10 cents a share for the first quarter on a 3% decline in revenue. In the first quarter of last year, Lance earned 19 cents a share.


The company has also cut its full-year earnings forecast to between 15 and 25 cents a share, compared with a 30 January prediction of between 65 and 70 cents a share.

GlobalData Strategic Intelligence

US Tariffs are shifting - will you react or anticipate?

Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.

By GlobalData

 

Just Food Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Food Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving food industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now