Lamb Weston Reduces FY24 Sales And Earnings Guidance Citing ERP Transition's Impact And Soft Near-term Restaurant Traffic Trends
Portfolio Pulse from Benzinga Newsdesk
Lamb Weston has lowered its FY24 sales and earnings guidance due to the impact of its ERP transition and a softening in near-term restaurant traffic trends. This adjustment reflects challenges in operational efficiency and market demand.
April 04, 2024 | 12:42 pm
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Lamb Weston has revised its FY24 financial outlook downwards, attributing the change to difficulties arising from its ERP system transition and weaker restaurant traffic.
The reduction in sales and earnings guidance by Lamb Weston is a direct result of operational challenges and a decrease in demand from the restaurant sector. This news is likely to negatively impact investor sentiment and the stock price in the short term, as it indicates potential operational inefficiencies and a less favorable market environment.
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