Conagra Retains Annual Forecasts, Takes $968 Mln Charge in Q2 Amid Muted Demand
Conagra Brands on Friday kept its annual sales and profit targets intact after a muted second-quarter as the Slim Jim meat snacks maker tackles uneven demand for its pantry staples due to pressured consumer spending and stiff competition.
The Hunt's ketchup maker also swung to a quarterly loss as it incurred a $968 million non-cash impairment charge following a sustained decline in its share price. Conagra has lost about 36% of its market value this year after battling supply chain issues, higher ingredient...
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