Shares in US food group JM Smucker have declined after it slashed its full-year sales and profit forecasts on the back of weakness in its coffee division.

In a preliminary second-quarter report, ahead of its full financial statements  on 19 November, Smucker said sales are expected to decline 5% from the same period a year ago.

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It lowered earnings expectations to US$1.53 per share for the quarter, below the FactSet consensus analyst estimate of US$1.66.

For the full year, sales are expected to decrease to 1% compared to a previous forecast of growth of 3-4%. Earnings guidance was lowered to US$5.45-US$5.65 per share compared with an earlier expectation of US$5.95-US$6.05.

“Our second quarter fell short of expectations primarily driven by our coffee business,” said CEO Richard Smucker.

“The balance of our businesses performed well,” he added.

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Shares in Smucker fell 3.69% to US$100.32 today (12 November) at 16:04 GMT.

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