Business
Kettle Cuisine taps former Kraft Heinz exec as CEO
LYNN, MASS. — Kettle Cuisine, a manufacturer of fresh prepared foods including refrigerated and frozen soups, broths, sauces, sides and entrees across retail and foodservice customers, has named Peter Hall as chief executive officer. Hall succeeds Liam McClennon, who recently retired from the CEO position after nearly 11 years with the company.
Hall comes to the company from Kraft Heinz, where he recently was president the North American Elevation Business Unit.
Hall spent nearly 11 years at Kraft Heinz, holding various leadership positions and overseeing such brands as Heinz, Kraft and Philadelphia.
“Peter is the right leader to guide Kettle Cuisine through its next phase of growth,” said Nik Thukral, president at L Catterton, an investor in Kettle. “Kettle has longstanding customer relationships, differentiated culinary and manufacturing expertise, and significant opportunity ahead. Peter brings the strategic perspective, consumer orientation, and strong commercial capability to capitalize on those advantages and build on the company’s established position. We are excited to partner with Peter and the Kettle team as they build on the company’s momentum.”
McClennon began his tenure as CEO in August 2015. Before joining Kettle Cuisine, McClennon was CEO at Greencore USA.
Business
Plug-in solar panels on sale in UK Argos or first time
Plug-in solar panels have gone on sale in the UK for the first time, with Argos this week becoming the first major retailer to stock the DIY systems, giving households that cannot fit rooftop panels a route to generating their own electricity.
Amazon, Currys, B&Q and Screwfix are expected to follow within the coming weeks, with prices starting at about £400 to £500 depending on the capacity of the system. The kits are aimed squarely at people living in flats or rented homes without access to a roof, a group that has so far been shut out of home solar power.
The devices are already popular in Spain and Germany, where they are known as Balkonkraftwerk, or balcony power plant, because they can be plugged into a standard wall socket to generate power from a balcony, terrace, shed roof or any other outdoor space. Ministers say around 500,000 systems were installed in Germany last year alone.
Sales in Great Britain became lawful from Thursday under a government change to plug and socket safety regulations, and the government says a typical household could save up to £110 a year on its electricity bill.
The solar power flows directly into the property’s electrical circuit to run appliances, reducing the amount of electricity a household needs to buy from the grid. Each system must be registered so that Great Britain’s National Energy System Operator can gauge how the cumulative effect of the panels could cut the need for gas-fired power or imports.
At 800 watts, the systems going on sale are about a fifth of the size of a typical residential rooftop set-up, so they will not generate enough energy to power a whole home. They sit at the entry level of a market in which rooftop installations reached their highest level in more than seven years as energy costs pushed households towards generating their own power.
Miatta Fahnbulleh, the energy secretary, said: “Plug-in solar is a simple, affordable way for households to take control of their energy bills and start saving straight away.”
Graham Biggart, the managing director for Argos, said: “By making this technology more accessible, we’re putting more power in the hands of our customers and helping them explore practical ways to manage energy use at home.”
How much a household saves will depend on how much power each system generates, which will vary with the orientation of the panel and the weather on any given day. It will also depend on whether the electricity is used while it is being generated, perhaps by running washing machines or dishwashers during sunny spells, because the new product rules do not extend to plug-in batteries that would store surplus power for later.
Consumer groups have urged buyers to check their circumstances before spending. Emily Seymour, energy editor at the consumer group Which?, said: “These smaller systems will generate less electricity than conventional rooftop solar and won’t be suitable for every home. People may need planning permission or the consent of the building owner before going ahead, so it will be important to check your own circumstances before making a purchase.
“There are also important safety considerations, particularly around the suitability of older electrical systems, the safe mounting of panels and the potential for people to use products or equipment incorrectly.”
Joanna O’Loan, a manager at Energy Saving Trust, said: “While the savings will vary from home to home, plug-in solar panels will give more people greater control over their energy use and costs. As these products become more widely available, access to clear and reliable information is essential to help people make informed choices that are right for their home and budget.”
For smaller firms the immediate significance sits on the retail side, where five of the country’s biggest retailers are preparing shelf space for a product category that was not lawful in Britain a week ago. The consent question also puts landlords and building owners in the conversation from the start, since tenants may need their agreement before mounting panels. The launch lands with energy costs still high on the political agenda, and while Ofgem’s cut to the price cap in April offered households some relief, ministers are presenting plug-in solar as a way for consumers to claw back a little more.
Business
Thailand Central Bank Holds Rate Steady
Thailand’s central bank delivered a third consecutive rate hold, as subdued domestic demand and weak economic growth give policymakers room to assess the impact of the Middle East conflict.
The Bank of Thailand’s monetary policy committee voted unanimously to maintain the policy rate at 1.00%, a decision predicted by all 13 economists polled by The Wall Street Journal.
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Business
Burger King overhauls chicken nuggets after customers call them ‘rubbery’ and ‘dry’
Burger King U.S. and Canada President Tom Curtis and Head Chef Amy Alarcon discuss the fast-food giant’s turnaround strategy highlighting an 8.5% sales jump, restaurant upgrades and a new chicken nugget launch on ‘Mornings with Maria.’
Burger King is giving its chicken nuggets a makeover after customers told the fast-food chain the product was falling short.
The company said it received thousands of calls, texts and comments from guests earlier this year criticizing its nuggets as “rubbery,” “dry” and “disappointing,” prompting Burger King to rethink the item.
The revamped nuggets, along with a refreshed lineup of dipping sauces, will be available beginning Sept. 1, according to the company.
“We take Guest feedback seriously, and when we received thousands of texts, calls and comments telling us our nuggets needed a total overhaul, we listened,” said Amy Alarcon, head chef for Burger King U.S. and Canada.
BURGER KING TACKLES SOARING BEEF COSTS WITHOUT SQUEEZING CUSTOMERS
Alarcon said Burger King evaluated the chicken, breading and sauces as part of the overhaul and brought customers into the testing process, including children the company described as some of its toughest critics.
For consumers, the changes extend beyond the nuggets themselves.
Burger King is also updating three of its established dipping sauces — Honey Mustard, Buffalo and Sweet & Sour — while adding a limited-time Special Savory Sauce.

In this photo illustration, a Whopper meal is seen at a Burger King restaurant on Oct. 25, 2024, in New York City. (Michael M. Santiago/Getty Images)
The new sauce combines creamy, tangy and mildly spicy flavors with BBQ seasoning, ketchup, garlic, onion and black pepper, Burger King said.
The nugget revamp is the latest example of Burger King leaning on direct customer feedback as it looks to improve both its menu and restaurant experience.

Pedestrians walk past a Burger King in Spain. (Xavi Lopez/SOPA Images/LightRocket via Getty Images)
Earlier this year, the chain launched a listening initiative designed to give customers a more direct way to weigh in on the brand. Burger King has since pointed to that feedback while rolling out changes to products, including its signature Whopper, and other aspects of the guest experience.
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Burger King, founded in 1954, operates more than 19,000 restaurants in more than 120 countries and U.S. territories. Nearly all of its restaurants are operated by independent franchisees.
Business
Mark Jaffe discusses New York City Mayor Mamdani’s government grocery store plan
Greater New York Chamber of Commerce President and CEO Mark Jaffe, who is legal counsel and a founder of the Multicultural Business Coalition, says New York City Mayor Zohran Mamdani’s effort will be “disastrous” for business owners.
Greater New York Chamber of Commerce President and CEO Mark Jaffe, a founder and legal counsel for the Multicultural Business Coalition that is involved in suing over New York City Mayor Zohran Mamdani’s controversial plans to open government-linked grocery stores in the Big Apple, described the initiative as “disastrous” for business owners, slamming the Democratic socialist’s administration as “heartless.”
“Government should not be in the business of taking out private enterprise. That is not what America’s about,” Jaffe told Fox News Digital during an interview on Tuesday.
A class-action suit, which alleges that the plan runs afoul of New York civil rights laws and the state Constitution’s equal protection clause, seeks relief and damages, while another suit explicitly calls for permanently blocking the operation of “the municipal grocery stores, in absence of undertaking necessary studies and analysis.”
The group took legal action because the “administration wasn’t listening,” Jaffe said.
“They’re embarking on a plan that will be disastrous for people that are in business and creating jobs,” Jaffe said. “And the heartless administration feels that if you can’t compete with one city-run grocery store, you shouldn’t be in business. That’s just wrong.”
BIG APPLE TARGETED IN LAWSUITS OVER MAMDANI’S GOVERNMENT GROCERY STORE PLANS

New York City Mayor Zohran Mamdani holds up bananas as he speaks at a food distribution center on July 27, 2026, in Brooklyn. (Spencer Platt/Getty Images)
Mamdani plans to open five city-owned grocery stores, one in each borough, with the first location expected to open next year.
“Under the model, the City will own the land and cover overhead costs like rent and construction. A private operator, selected through a request for proposals, will manage daily operations and be contractually required to pass savings directly to customers on a core basket of everyday staples,” an April press release noted.
Mamdani has said various items at the stores will be priced at 30% lower than normal retail prices.
“This core set of goods will include all fresh produce, meat and seafood along with 20 other essential items like cheese, milk and bread. Here’s how it will work: Once a month, our five city-run grocery stores will set prices for this core set of goods at 30% below typical retail prices,” he said last month.
But Jaffe argues that the mayor’s plan is not the right way to help those in need.
GROCERS ISSUE WARNING OVER MAMDANI’S TAXPAYER-BACKED STORES: ‘WE’RE GOING TO GO AFTER’ THEM
Immigrant grocers in Harlem, New York, file a lawsuit against the city’s plan to open government-run grocery stores. Store manager Elvis Aria warns the untaxed competition could put family businesses like his out of business.
“How can one store in East Harlem help feed the disadvantaged and struggling people that deserve to get nutritious food and affordable food? They can’t afford to get up to this store to buy a bag of groceries. They need to go shopping locally where they can do it quickly and conveniently. And there are so many better ways to get this done. You can use electronic debit cards. Their number, their research indicates that the average savings in this program may be $90 dollars a month. So give people who are in the target range that we should help $90 dollars a month and help support a local business,” he said.
Jaffe warned that people could purchase the discounted groceries from the government-linked stores only to turn around and resell the items, causing the municipal grocery stores to have insufficient quantities of those products in stock.
Greater New York Chamber of Commerce President and CEO Mark Jaffe, who is legal counsel and a founder of the Multicultural Business Coalition, says the mayor’s effort will be “disastrous” for business owners.
“If you study the history, I’ve never seen a government-run supermarket — whether it’s in Chicago or another country — that didn’t end up with empty shelves,” he noted. “And let me tell you why. If I wanted to buy, hypothetically, bananas, and I can get 30% off, what is to prevent me from getting all the bananas I could possibly fit in my cargo van and then selling them on the streets at 15% off? That’s American entrepreneurship. And without checks and balances, and I don’t think the city has any, this store will not even be sufficiently stocked.”
Jaffe floated the prospect of a third lawsuit.
“This is unfair competition. You might see a third lawsuit filed soon, because if any other company with unlimited resources did this to take advantage of the marketplace, it would be called anti-trust,” he asserted.
Florida Chamber of Commerce CEO Mark Wilson speaks exclusively to Fox News Digital about the reaction and surge in interest for moving more people and companies to the Sunshine State following the launch of its ‘Free Enterprise’ campaign.
Thirty million has been allocated for construction of the East Harlem government-linked grocery store, which is slated to open in 2029.
Jaffe, who said he has spoken to and interviewed dozens of individuals knowledgeable about the “supermarket construction industry” who think that the store could be opened for nearer to $10 million, questioned where the remaining $20 million is going. “We have a word for it. It’s called patronage,” he said.
“If we get away with one store, what’s to stop them with their 100-year plan to make sure nobody owns a store anymore? The government owns everything,” but for those “lucky enough to be the privileged person and get a patronage job, they’ll take care of you.”
Fox News Digital reached out to Mamdani’s office on Wednesday.
Asked about the legal challenge on Monday, Mamdani said, “I continue to be fully confident in both the legality and the importance of our initiative to deliver five city-run grocery stores, one in each borough, to the people of our city.”
“We are talking about a reflection of a cost of living crisis that has seen grocery prices increase by about 30% over the last few years,” he added. “And we’re also talking about delivering five city-run grocery stores in a city of eight-and-a-half million people that has more than a thousand grocery stores.”
“And we’ve seen, in fact, with Essex Street Market in Manhattan” and “Moore Street Market in Brooklyn, a model where the city has subsidized groceries, and it has not had a negative effect on bodegas around them or on grocery stores around them,” he said, adding, “I’m confident both in the legality of this, that it will stand up in court, and in the importance of delivering it.”
New York City Mayor Zohran Mamdani responded to a new class-action lawsuit from the Multicultural Business Coalition against the administration’s plan to open five city-owned grocery stores. (WNYW)
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When asked if there was anything he could do to aid bodega owners who think that they will lose income, Mamdani replied, “Absolutely. What we can do is continue with our approach citywide of looking for ways to cut costs and cut the regulations that so many bodegueros as well as grocery store owners have to jump through in order to do their work.”
Business
Atlanta woman gets 16 years for Amazon fraud and forged judge signature
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An Atlanta woman who participated in a scheme that defrauded Amazon out of nearly $10 million was sentenced to over 16 years in federal prison on Wednesday, the Justice Department announced.
The U.S. Attorney’s Office for the Northern District of Georgia said in a release that Brittany Hudson was sentenced to 16 years and three months in federal prison after she and her partner used a business relationship with Amazon to defraud the e-commerce giant.
Hudson was convicted in March of 30 felony offenses that involved wire fraud, money laundering, related conspiracy charges and a count related to the forgery of a federal judge’s signature.
“Hudson and her partner engineered a massive fraud scheme against Amazon, stealing nearly $10 million in just a few months,” said U.S. Attorney Theodore S. Hertzberg. “Hudson then showed utter contempt for the law by forging a federal judge’s signature in a failed effort to defraud another company while out on bond. Today’s significant sentence, which must be served without the possibility of parole, holds her accountable for her crime spree.”
AMAZON PLANS MASSIVE EXPANSION OF PRIME AIR DRONE DELIVERIES

MADRID, SPAIN – NOVEMBER 15: Two Amazon delivery vans, on 15 November, 2022 in Madrid, Spain. U.S. e-commerce giant Amazon is considering job cuts among its corporate and technology workforce of up to 10,000 employees. The layoffs are equivalent to 0 (Alejandro Martinez Velez/Europa Press via Getty Images / Getty Images)
From January 2022 to June 2022, Hudson and her partner, Kayricka Wortham, defrauded Amazon using a scheme that involved bogus vendors and invoices that they created in Amazon’s vendor system, according to the DOJ announcement. Wortham and another co-conspirator at Amazon approved the fake vendor profiles, which allowed them to submit invoices.
Hudson and Wortham then submitted over 1,000 fictitious invoices, falsely claiming the phony vendors had provided goods and services to Amazon. Wortham would approve the invoices, which led to Amazon transferring about $9.4 million to bank accounts that she, Hudson and their co-conspirators controlled.
Hudson and Wortham used the fraudulent funds to buy expensive real estate, including a nearly $1 million home in Smyrna, as well as luxury vehicles including a 2019 Lamborghini Urus, a 2021 Dodge Durango, a 2022 Tesla Model X, a 2018 Porsche Panamera, and a Kawasaki ZX636 motorcycle.
AMAZON PRIME SETTLEMENT: HOW ELIGIBLE CUSTOMERS CAN CLAIM THEIR REFUND

Brittany Hudson and Kayricka Wortham forfeited the nearly $1 million home in Smyrna, Ga., they bought with funds derived from their Amazon fraud scheme. (U.S. Attorney’s Office for the Northern District of Georgia / Fox News)
The two faced federal fraud charges related to the scheme in September 2022. While they were out on bond, they attempted to defraud a franchising company by entering into an agreement to open a hookah lounge in Midtown Atlanta and falsely claimed their criminal charges had been dismissed. Those actions resulted in the revocation of their pretrial release.
To support that claim, they emailed counterfeit court documents that contained the forged signatures of former Chief U.S. District Judge Timothy C. Batten, Sr. and Cobb County Magistrate Judge Norman L. Barnett, who was a prosecutor in the case. Hudson also emailed fake financial statements with inflated account balances to secure the deal.
“The sentencing in this case brings a brazen fraud operation to its inevitable conclusion – years behind bars for the criminals involved,” said Rob Donovan, special agent in charge of the U.S. Secret Service Atlanta Field Office. “Our office remains steadfast in our commitment to uncover fraud, protect victims, and work with our partners at the U.S. Attorney’s Office to bring criminals like this to justice.”
AMAZON’S 30-MINUTE DELIVERY PUSH RAISES STAKES IN RACE FOR SPEED
Brittany Hudson and Kayricka Wortham were convicted of defrauding Amazon. Each was sentenced to prison time, as well as paying restitution and forfeiting luxury cars and property obtained with the fraudulent funds. | Fox News
In addition to her prison sentence, Hudson was ordered to pay $9,469,731.45 in restitution to Amazon, while the court entered a forfeiture money judgment of $7,859,135.54 and ordered Hudson to forfeit her residence in Smyrna and money seized from her bank account as fraudulent proceeds of her scheme.

Brittany Hudson and Kayricka Wortham were convicted of defrauding Amazon. Each was sentenced to prison time, as well as paying restitution and forfeiting luxury cars and property obtained with the fraudulent funds. (U.S. Attorney’s Office for the Northern District of Georgia / Fox News)
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Wortham was sentenced to 16 years in prison in June 2023, and was sentenced to an additional year in March 2026 after pleading guilty to forging the signature of a federal judge. She was also ordered to pay $9,469,731.45 in restitution, and forfeited over $3 million, the Smyrna home and vehicles.
Business
McDonald’s employee allegedly shoots co-worker, killed in police shootout
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A California McDonald’s employee allegedly shot a co-worker inside the restaurant Monday morning before the armed suspect was killed in a shootout when responding officers confronted him, authorities said.
The Lodi Police Department said officers responded to the McDonald’s on West Lodi Avenue at approximately 9:30 a.m. after dispatchers received a report of an armed suspect inside the restaurant.
When officers arrived, they heard gunfire coming from inside and discovered an employee who had been shot, according to police.
MULTIPLE PEOPLE KILLED IN SHOOTING AT IDAHO IN-N-OUT RESTAURANT, SUSPECT DEAD

Police identified the suspect as as 29-year-old Lodi resident Jonhatan Anguiano. He was pronounced dead at the scene. (Facebook / Lodi Police Department / Unknown)
Officers moved toward the sound of gunfire and encountered the armed suspect, leading to an officer-involved shooting, police said.
The suspect, identified by authorities as 29-year-old Lodi resident Jonhatan Anguiano, was pronounced dead at the scene.
The wounded employee, a woman, was taken to a local hospital and was in stable condition, according to police.
Authorities later confirmed Anguiano and the wounded woman were both employees of the McDonald’s, according to KCRA. Police have not disclosed a possible motive or detailed what led up to the shooting.

Police recovered a firearm from the scene of the shooting. (Facebook / Lodi Police Department / Unknown)
The restaurant remained closed Tuesday, with traffic cones blocking its parking lot as a cleaning company’s van sat outside, the outlet reported.
OFF-DUTY TROOPER AND ARMED CITIZEN HAILED AS HEROES AFTER RETURNING FIRE ON IN-N-OUT GUNMAN
Lodi City Councilmember Cameron Bregman, who lives about a block from the restaurant, told the outlet the violence was troubling for the small community.
“Number one, it’s unacceptable. But number two, it’s scary that crime hits so close to home,” Bregman said. “Lodi is better than this. And we should be better than this.”
Bregman also urged residents to wait for investigators to establish what happened as different accounts of the shooting circulated locally.
“The best thing I can do is let the police do the work and let the police release the reports,” he said.

A McDonald’s restaurant in California. (Tayfun Coskun/Anadolu Agency via Getty Images, File / Getty Images)
The shooting is being investigated under the San Joaquin County Officer Involved Critical Incident Protocol, with members of the Lodi Police Department, San Joaquin County District Attorney’s Office and California Department of Justice participating in the investigation.
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Authorities said the investigation remains ongoing and additional information will be released as it becomes available.
Business
ServiceNow, Stock Of The Day, Clears Early Buy Point As ‘SaaSpocalypse’ Fears Fade
ServiceNow ServiceNow NOW $ 137.09 $11.29 8.97% 48% IBD Stock Analysis Stock actionable after clearing short-term highs NOW joins AI-powered software rally IBD Composite Rating 92/99 Industry Group Ranking 9/197 Emerging Pattern Cup Cup A cup-shaped pattern with no handle. Must be at least six weeks long or as long as a year. Buy point is 10 cents above the…
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Hinge Health Stock Catapults 95%; Expands Footprint In AI Pain Management Tech
A persistent muscle twinge can unhinge daily routines and schedules. Hinge Health (HNGE) offers an app-based artificial intelligence-enabled program for managing pain and has been growing its client base as demand surges for its products and services. Shares touched an all-time high on Thursday while also holding in a buy zone above a three-weeks-tight pattern. Its pivot is 93.13. The…
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Business
Hostess remains a work in progress for J.M. Smucker
ORRVILLE, OHIO — The J.M. Smucker Co. said its Sweet Baked Snacks business, led by Hostess, has continued to show improvement as the company began fiscal 2027 with stronger-than-expected first-quarter results.
Sweet Baked Snacks net sales for the quarter ended July 31 declined 7% year over year to $236.5 million, with segment profit down 13% to $29.9 million, Orrville-based J.M. Smucker said. That compared with drops of 24% in net sales (10% excluding divestitures) and 54% in segment profit in the year-ago quarter.
Mark Smucker, chairman and chief executive officer, attributed the 2027 quarterly sales dip mainly to the impact of prior-year SKU rationalization and decreases in the convenience store channel but noted Hostess’ promising growth in US retail.
“We are encouraged by the recent performance of our Sweet Baked Snacks business in US retail channels, where net sales increased low-single digits, driven by double-digit growth for the Hostess Donettes brand,” he said. “This performance reflects our strategic focus on the brand, supported by expanded distribution, innovation and improving base-business trends.
“We are leveraging our deep retail relationships to expand the presence of the brand while building on promising results from recent innovations, including Donettes Churro Mini Donuts and a new Donettes sharing-size offering. Our larger pack sizes continue to perform well and demonstrate faster purchase cycles than traditional sizes, reinforcing the opportunity to drive incremental consumption and offer increased consumer value. We see continued opportunity to grow both our offerings and distribution.”
Net price realization lifted first-quarter net sales for Sweet Baked Snacks by 2 percentage points, primarily reflecting higher net pricing for snack cakes and donuts, according to J.M. Smucker. Volume/mix pulled down net sales by 8 percentage points, stemming mostly from decreases in snack cakes and breakfast, the company said.
“Volume/mix for donuts was neutral in the quarter,” said Tucker Marshall, chief financial officer and executive vice president of Frozen Handheld and Spreads and Sweet Baked Snacks. “Net price realization increased net sales by 2 percentage points, reflecting reduced trade investments in snack cakes and a list price increase for donuts. Segment profit decreased 13%, reflecting higher costs and unfavorable volume/mix, partially offset by higher net price realization and lower marketing spend.”
Smucker noted the convenience channel “remains challenged as traffic continues to be pressured.”
“Despite this backdrop, the Hostess Donettes brand continues to outperform the broader sweet baked goods category in this channel, reinforcing the brand’s relevance within the a.m. snacking occasion, where consumers are seeking quick, convenient and satisfying options,” he said. “We remain focused on strengthening the brand’s performance across channels while positioning it to benefit when convenience traffic improves.”
In June 2025, J.M. Smucker unveiled updated priorities for shoring up Hostess’ performance, with the focus narrowed to strengthening the portfolio, elevating execution and reigniting sustainable growth. Actions have included an SKU rationalization program to pare the brand’s item count by 25%; a focus shift to high-velocity, margin-accretive SKUs; and a decision to close Hostess’ Indianapolis production plant. The company also has formed a dedicated Sweet Baked Snacks sales organization to hone execution and boost the Hostess brand via culturally relevant marketing, refreshed packaging and consumer-led innovation.
“We continue to execute against our Sweet Baked Snacks stabilization plan,” Smucker said. “For fiscal year 2027, we continue to expect segment profit margin improvement compared to the prior year and see a path to further expansion over time.”
J.M. Smucker noted a 10% gain in volume/mix for Uncrustables in the first quarter.
| Photo: ©BILLTSTER – STOCK.ADOBE.COMFor the first quarter, J.M. Smucker had net income of $324.2 million, equal to $3.03 per share on the common stock, up from a loss of $43.9 million a year earlier. Adjusted net earnings — excluding the impact of income tax costs, amortization and other items — were $346.5 million, or $3.24 per share, up from $203.4 million, or $1.90 per share, a year ago, J.M. Smucker said. That topped Wall Street’s high-end forecast for adjusted earnings per share of $2.27.
Total net sales rose 5% to $2.22 billion from $2.11 billion in the prior-year period. Net price realization, fueled by higher net pricing for coffee, provided a 4-percentage-point lift to net sales, J.M. Smucker said. Also supplying a boost was a 1-percentage-point gain in volume/mix, mainly from increases for Uncrustables sandwiches and coffee, partially offset by decreases for sweet baked foods and peanut butter.
Among other business units, US Retail Frozen Handheld and Spreads saw net sales rise 3% to $499.3 million, with segment profit jumping 13% to $129.7 million.
“In Frozen Handheld and Spreads, net sales increased 3%, driven by double-digit growth for Uncrustables sandwiches, partially offset by decreases for Jif peanut butter and Smucker’s fruit spreads,” Smucker said. “Net sales growth for Uncrustables sandwiches was primarily driven by a 10% increase in volume/mix. We remain focused on scaling the Uncrustables brand as a key growth platform, while driving profitability and modernizing our category-leading spreads business.”
Uncrustables volume growth also gave a lift to the Away From Home business, as net sales grew 3% to $203.7 million and segment profit advanced 19% to $61.2 million.
US Retail Coffee net sales surged 13% to $807.8 million as higher net pricing across the portfolio hoisted sales by 10 percentage points, J.M. Smucker said. Volume/mix increased net sales by 2 percentage points, including gains for the Dunkin’ and Café Bustelo brands. Segment profit swelled by 124% to $300 million, boosted by tariff refunds and higher net pricing, the company said.
“We delivered a strong first quarter that exceeded our expectations and demonstrated continued momentum across the company,” Smucker said. “Our performance reflects the strength of our differentiated portfolio, disciplined execution against our strategic priorities, and the investments we continue to make in our brands and capabilities. Importantly, net sales increased 5%, including a 1 percentage point contribution from volume/mix, alongside improved profitability and strong earnings growth. Based on our first-quarter performance and expectations for the balance of the year, we raised our full-year outlook for net sales, adjusted earnings per share and free cash flow.”
J.M. Smucker now projects fiscal 2027 adjusted EPS of $10.50 to $11, up from $9.75 to $10.25 previously, and net sales declines of 1% to 2% versus the prior forecast of down 3% to 4%.
“Our updated guidance reflects stronger-than-anticipated momentum across the business and a favorable net benefit of approximately 60¢ related to the receipt of tariff refunds, which reflects the 84¢ benefit from tariff refunds received in the first quarter,” Marshall said.
Business
One in eight young people not in work or education
In May, the first part of Milburn’s report, which was commissioned by the government, said the reasons for the rise in rates among men were “complex”, but could be down to more health issues, the “erosion of traditional employment routes” and “a growing gap in educational outcomes”.
He also said the “Neet problem is grounded in social disadvantage” and highlighted higher rates among certain groups, including young people who:
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have grown up in poverty
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have special educational needs or disabilities (SEND)
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don’t have a GCSE-level qualification
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are Black, African and Caribbean
The report warned that one in six young people would be out of work in five years without action, adding: “We are at risk of a lost generation.”
It said young jobseekers were submitting dozens, sometimes hundreds of applications, but rejections had become the norm.
Last week, analysis by the BBC found that competition for degree apprenticeships in England through the government’s “find an apprenticeship” service, for example, had quadrupled over the past three years.
The second, and final, instalment of Milburn’s report – including recommendations for how to tackle the problems – is expected in the coming weeks.
Additional reporting by Kate McGough, Erica Witherington, Rahib Khan and Miguel Roca-Terry
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