(Reuters) - Jif peanut butter maker J.M. Smucker on Tuesday raised its annual profit forecast on higher prices of its jams, jellies and pet food ...
STORY CONTINUES BELOW THESE SALTWIRE VIDEOS - Jif peanut butter maker J.M. Smucker on Tuesday raised its annual profit forecast on higher prices of its jams, jellies and pet food products as well as moderating costs of packaging and raw materials.
Demand for kitchen condiments has also been steady as Americans battling higher costs of living increasingly eat at home, supporting sales at J.M. Smucker. Domestic net sales in its retail consumer foods segment rose 49%. Excluding the hit from the divestiture of some of its pet food brands, the company's net sales in the domestic pet food segment rose 22% from a year earlier.
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