The J.M. Smucker Co. says it will likley take a $125 million hit over the next year because of its recall of Jif Peanut Butter. The Orrville-based company voluntarily issued a recall of more than 40 Jif products back on May 20, due to concerns over salmonella. The impact of those recalls was announced yesterday morning during the company’s earnings report. Over the next twelve months, Smucker’s is lowering its expected revenue by about 2%. However, despite the recall, the company is still expecting overall net sales to grow by up to 4.5%.
Smucker’s to lose more than $120 million, due to Jif recall
