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Bega Group finds buyer for peanut assets in move to save 30 jobs
Yahoo Finance· 2025-09-11 12:50
Core Viewpoint - Bega Group is proceeding with the closure of its Peanut Company of Australia (PCA) despite finding a buyer for its peanut processing assets, with plans to save some jobs through the sale [1][2][3]. Group 1: Business Closure and Sale - Bega Group announced the phased closure of PCA and its factories in Kingaroy and Tolga over an 18-month period, initiated due to an inability to establish a sustainable business model [1][3]. - The company has reached an agreement to sell the land, buildings, and equipment at the two sites to Crumpton Group, a family-owned agri-food business [2][5]. - The sale is expected to be completed in December, followed by a transition to the new owner in June next year [5]. Group 2: Job Impact and Support - Approximately 30 out of 150 jobs at risk are expected to be saved as a result of the sale to Crumpton Group [2][4]. - Bega Group is committed to supporting its affected workforce during the transition and has worked with Crumpton Group to identify potential roles for impacted employees [4][5]. Group 3: Industry Context - The decision to close PCA was influenced by continued financial losses and challenges within the industry, prompting a review of the operations [3]. - The acquisition by Crumpton Group aims to enhance service to Australian peanut growers, indicating a focus on local ownership and operations [6]. Group 4: Other Asset Management - Bega Group has been streamlining its operations, including the closure of its cheese processing and packaging facility in Strathmerton, Victoria, earlier in May [7].
J.M. Smucker Stock Hits 5-Year Low After Earnings
Schaeffers Investment Research· 2025-06-10 15:06
Core Viewpoint - J.M. Smucker Company (NYSE:SJM) experienced a significant decline of 12.7% to $97.65 following a disappointing annual profit forecast, despite fiscal fourth-quarter earnings exceeding estimates, while revenue fell short of expectations [1] Group 1: Financial Performance - The company's stock is at its lowest level since March 2020, breaking past its February bottom, indicating a severe market reaction [1] - J.M. Smucker is on track for its worst trading day on record, with a year-over-year deficit of 12.1% [1] Group 2: Options Activity - In the options market, SJM has seen an unusually high volume of trades, with 6,298 calls and 5,517 puts, which is 42 times the typical volume for this time [2] - The most popular options are the June 95 call and the 100 call, with new positions being opened in both [2] Group 3: Analyst Sentiment - Analysts are generally bearish on SJM, with many maintaining neutral ratings following the company's guidance; out of 16 firms, 11 have a "hold" or worse rating [2]
J. M. Smucker(SJM) - 2025 Q4 - Earnings Call Presentation
2025-06-10 11:04
Financial Performance - Net sales decreased by 3% to $2,143.8 million in FY25 Q4[5] - Comparable net sales decreased by 1%[2] - Adjusted earnings per share decreased by 13% to $2.31[2, 5] - Free cash flow increased slightly to $298.9 million from $297.5 million in the prior year[2] Segment Results - U S Retail Coffee net sales increased by 11% to $738.6 million[14] - U S Retail Pet Foods net sales decreased by 13% to $395.5 million[14] - Sweet Baked Snacks net sales decreased by 26% to $251.0 million[14] Fiscal Year 2026 Outlook - The company projects a net sales increase of 2.0% to 4.0% for fiscal year 2026[16] - Adjusted EPS is projected to be between $8.50 and $9.50[16] - Free cash flow is expected to be $875.0 million[16] Additional Information - Total company net sales for fiscal year 2025 were $8.7 billion[24]
SpartanNash Hosts Mass Volunteer Event, Packing 500,000 Meals for Families in Crisis
Prnewswire· 2025-04-17 14:46
Core Points - SpartanNash celebrated its Helping Hands Day by mobilizing 850 volunteers to pack 500,000 meals and 5,000 hygiene kits, valued at approximately $1.7 million, for disaster relief efforts [1][3] - The company also donated $100,000 to Convoy of Hope to support their disaster relief initiatives [1] - SpartanNash's CEO emphasized the company's commitment to providing hope and assistance during crises, highlighting the increasing frequency of natural disasters [3] Company Contributions - The meals packed will feed families in crisis, with each box designed to sustain a family of four for one week [1] - SpartanNash partnered with various suppliers and nonprofit organizations, including Convoy of Hope, to facilitate the packing and distribution of food [3][6] - In 2024, Convoy of Hope responded to 53 disasters, serving over 700,000 people and distributing more than 14 million pounds of food [6] Supplier Partnerships - Donations for the Helping Hands Day included products from notable suppliers such as Del Monte Foods, Kraft Heinz, Hormel, and PepsiCo, among others [4][5] - The collaboration with these suppliers underscores the collective effort to address food insecurity and support communities in need [4][5] Company Overview - SpartanNash operates in two main segments: food wholesale and grocery retail, serving a diverse customer base including independent grocers and military commissaries [8] - The company employs approximately 20,000 associates and operates nearly 200 grocery stores under various banners [8]