US packaged food manufacturer Flowers Foods has cut its fourth-quarter outlook, citing slow sales and higher costs at its Mrs Smith’s Bakeries unit.

The company is now expecting earnings in the fourth quarter of the fiscal year of 12 cents to 17 cents a share, well below the Thomson First Call consensus estimate of 27 cents a share, reported Reuters.

Flowers Foods is also expecting a previously announced non-cash charge of US$20m to $30m in the fourth quarter, related to goodwill.