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


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.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.