Flowers Foods Lowers Full-year Sales Forecast
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FLO
THOMASVILLE, Ga. (AP) Bakery goods company Flowers Foods Inc. maintained its full-year adjusted profit forecast Wednesday but cut its sales guidance, citing tightened consumer spending and competition.
The maker of Nature's Own bread still expects adjusted earnings of $1.37 to $1.48 per share, but it now anticipates a full-year sales increase of 9.7 percent to 11 percent, or $2.65 billion to $2.68 billion. The company's previous guidance was for sales growth of 13 percent to nearly 15 percent. Analysts polled by Thomson Reuters predict 2009 profit of $1.43 per share on revenue of $2.71 billion. Analysts' estimates typically exclude one-time items. Flowers Foods also reported Wednesday that its second-quarter profit climbed 27 percent, helped by acquisitions and cost control efforts.- Loading Comments...
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