Conagra Sales Volumes Fall Amid Inflation Pressures
Conagra posted a volume-led decline in first-quarter net sales as inflation and cautious consumers hampered the new chief executive officer. Despite beating profit estimates, shares dropped sharply after guidance was reaffirmed.
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CONAGRA BRANDS INC posted a 2.1% drop in first-quarter sales volumes on Tuesday, driven by persistent inflation and price-sensitive consumers. The packaged foods maker's shares slumped 5.5% to an over three-month low following the release.
