(Bloomberg) -- Conagra Brands Inc. cut its fiscal 2020 forecast because of slowing demand across a range of food categories.
The Chicago-based maker of packaged foods now expects organic sales to be flat to up 0.5% for the year, compared with a prior forecast for growth of 1% to 1.5%, it said Monday in a written statement. Adjusted earnings per share are now expected to be in the range of $2 to $2.07, down from a prior view of $2.07 to $2.17. Analysts surveyed by Bloomberg had estimated $2.11 on average.
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