1006 ET - Conagra Brands doesn't expect the operating environment to improve anytime soon. The maker of Slim Jims expects inflation to remain persistent, forecasting that its core cost of goods will increase about 4% in fiscal 2026. "To put that in context, this level of inflation in FY26 will bring our five-year cumulative, net inflation to approximately 45%, a historic amount of inflation over such a short period of time," CEO Sean Connolly says on a call with analysts. At the same time, tariffs are expected to increase costs by an additionally $200 million this year, and consumers are continuing to prioritize value and limit discretionary spending. "Amidst this dynamic environment, our focus is on driving long-term value creation by investing to restore growth while maximizing cash and minimizing cost," Connolly says. (connor.hart@wsj.com)
(END) Dow Jones Newswires
July 10, 2025 10:06 ET (14:06 GMT)
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