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May 14, 2014
09:48 EDTHSH, PFPinnacle Foods sees Hillshire deal completed by September
Says will not comment on pending transaction with Hillshire Brands (HSH). Expects productivity to outpace inflation for the year. Says faced industry growth challenges in Q1 driven by the late Easter and unusually tough weather. Expects specialty sales to remain under pressure, but sees specialty EBIT up for the full year. Sees inflation higher in 1H, productivity greater in 2H. Sees FY CapEx $120M-$130M. Comments made on the Q1 earnings conference call.
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