Welcome to our dedicated page for Lancaster Colony news (Ticker: $LANC), a resource for investors and traders seeking the latest updates and insights on Lancaster Colony stock.
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Lancaster Colony reported increased consolidated net sales by 1.4% to $471.4 million in the fiscal third quarter, with Retail net sales improving by 0.3% and Foodservice net sales growing by 2.6%. Consolidated gross profit increased by 10.9% to $104.5 million, driven by pricing favorability, cost savings initiatives, and volume growth. The company decided to exit perimeter-of-the-store bakery product lines, resulting in a $2.6 million inventory write-down. CEO David A. Ciesinski expressed optimism for the Retail segment and continued volume growth in the Foodservice segment.
