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The company faced headwinds from a challenging consumer environment and reduced traffic in the foodservice channel.Lancaster Colony reported Q3 sales of $457.8 million, down 2.9% year-over-year and significantly below the consensus estimate of $483.9 million. 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Shares are down about 5% this year.Lancaster Colony, whose products include Marzetti salad dressings and dips, said net sales declined 2.9% to $457.8 million, partly due to the March 2024 exit from certain bakery product lines. Earnings per share increased to $1.49 from $1.03 a year earlier, when the company posted restructuring and impairment charges and an inventory write-down.Analysts polled by FactSet had expected earnings of $1.58 a share on sales of $484 million.The company said food service sales reflected an industrywide decline in traffic and the impact of menu changes as some customers shifted to value offerings.The company said its retail segment's licensing program has been a source of growth, with a strong 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