US pretzel and cake maker J & J Snack Foods has reported a “disappointing” first quarter to its financial year when input costs hit earnings.
J & J Snack Foods filed a 22.5% fall in net income to US$5.5m for the three months to 24 December. Operating income slid 23% to $8.5m.
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Sales increased 11% to $172.7m but J & J president and CEO Gerald Shreiber said yesterday (23 January) that the company had seen “weak” volumes, which had an impact on its results.
Shreiber said J & J’s Icee frozen beverage had “improved significantly” year-on-year but added: “Other than Icee, our results were disappointing. Contributing factors were weak volume, inability to offset ingredient and packaging cost increases and other increases in operating costs.”
