Lancaster Colony: Rises on expectations retail strength will continue

Marzetti Co

27/08/2020 17:33

** Shares of salad dressings and dips maker's  LANC.O  rise
as much as 9% to $184.25 - highest in nearly two years
    ** At current level, up 4.6%, LANC set for best day in
nearly three months
    ** LANC expects its retail unit to benefit from higher
demand for dressings and sauces sold under license agreements,
including Chick-fil-A sauces, Buffalo Wild Wings sauces and
Olive Garden dressings, in fiscal 2021
    ** Retail sales increased 24.5% in Q4, as people stuck at
home bought more of its frozen garlic bread and dinner
rolls urn:newsml:reuters.com:*:nPn3W3Cvla
    ** CEO David Ciesinski expects its foodservice unit, which
declined 24.1% in Q4, to improve, driven by recovery at certain
partner restaurants, including pizza chains and Chick-fil-A
 urn:newsml:reuters.com:*:nTRN9xqWwf    
    ** Including session's move, shares up about 11% this year

 (Reporting by Praveen Paramasivam in Bengaluru)
 ((Praveen.Paramasivam@thomsonreuters.com; within U.S. +1 646
223 8780 (Extn. 3478), outside U.S. +91  80 6182 3478;))