J. M. Smucker reports Q2 sales

ORRVILLE, Ohio — Second-quarter net sales for J. M. Smucker rose 18% to $235 million for the period ended Oct. 31.

Specifically, J. M. Smucker said net sales increased 29% for its U.S. retail coffee segment, while segment net sales for its U.S. consumer food business increased 13%. The company said the boost was aided by net price realization across many of the company's brands, in addition to its acquisition of the Rowland Coffee brands, which contributed to about 2% to net sales. The company also said that it experienced volume gains in Pillsbury baking mixes, Jif peanut butter, but were more than offset by declines in nonbranded beverages, Crisco oils, Folgers coffee and Pillsbury flour.

For its outlook, the company said it now expects income per diluted share to range from $4.90 to $5.