NEW YORK (TheStreet) -- Shares of Danone (DANOY) are down -1.72% to $14.88 after the Paris-based food company said overall sales in the first half fell 5.3% to 10.47 billion euros, or $14.1 billion, pulled down in the second quarter by the baby-food division in China, where the food-safety warning from Fonterra led to a drastic loss in customers, the Wall Street Journal reports.
First half results and sales slightly missed consensus expectations.
However, the company said efforts to revive growth should lead to an improvement in the second half of the year, and that they are on track to meet full year profit and sales goals They see organic sales growth reaching between 4.5% and 5.5% and its operating margin to be broadly stable, the Journal added.
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts