1115 ET - Hostess is causing more headaches for its new owner, J.M. Smucker. The Ohio-based food giant says that it took two impairment charges tied to the business totaling more than $1 billion. Sales in Smucker's sweet-baked-goods unit, which includes Hostess, fell 7% in the company's latest quarter, which CEO Mark Smucker said reflected execution challenges and a more cautious consumer. Smucker said the rise of new weight-loss drugs aren't having a material impact on Hostess sales and pointed to challenges for convenience stores. "Gas prices have been elevated and so people are just having a bit less extra discretionary change in their pocket," Smucker said. (jesse.newman@wsj.com)
(END) Dow Jones Newswires
February 27, 2025 11:15 ET (16:15 GMT)
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