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Sunday, April 11, 2021

Feeding the fever with Slim Jims, syrup

Conagra Brands shares rose to a six-week high after the maker of Slim Jims and Mrs. Butterworth’s syrup said it would exceed its fourth-quarter financial guidance as the pandemic drives much higher retail demand for its products. Chicago-based Conagra said it’s “experienced significantly increased demand in its retail businesses, associated with the COVID-19 pandemic,” although its sales to cafeterias and the food service industry are falling. Conagra’s brands also include Hunt’s ketchup and Vlasic dill pickles. CEO Sean Connolly said that while the situation “remains highly dynamic” and depends on the supply chain not breaking down, “we now believe that we will exceed our fiscal 2020 sales and profit guidance.” Conagra shares closed up 4% at $29.34.

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