Why Danone (DANOY) Stock Is Lower Today

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.

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