Lancaster Colony Corp
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Consumer Staples : Food Products | Mid Cap BlendCompany profile

Lancaster Colony Corporation is a manufacturer and marketer of specialty food products for the retail and foodservice channels. The Company's food products include Salad dressings and sauces, Vegetable dips and fruit dips, Frozen garlic breads, Frozen Parkerhouse style yeast rolls and dinner rolls, Croutons and salad toppings, Flatbread wraps and pizza crusts, and Caviar. Its brands include Marzetti, Marzetti Simply Dressed, Cardini's, Girard's, New York BRAND Bakery, Sister Schubert's and Flatout. It manufactures and sells other products pursuant to brand license agreements, which includes Olive Garden dressing. A portion of its sales are frozen specialty pasta and flatbreads sold to industrial customers for use as ingredients or components in their products.

Closing Price
Day's Change
1.57 (1.01%)
B/A Size
Day's High
Day's Low
(Heavy Day)

10-day average volume:

UPDATE: China-sensitive stocks slide sharply as yuan move adds to trade-war fears

6:55 am ET August 6, 2019 (MarketWatch)

By Ciara Linnane, MarketWatch

Consumer-goods companies join chip makers and others in reacting to threat of new 10% tariff on $300 billion of China imports

A range of stocks of companies with heavy exposure to China fell sharply Monday, after China allowed the yuan to fall to a fresh low against the dollar, exacerbating concerns about the current trade conflict with the U.S.

"Trade continues to trend in the wrong direction, as in retaliation for new tariffs, China let the yuan move to a 10-year low versus the U.S. dollar," Ryan Detrick, senior market strategist at LPL Financial, said in emailed comments. "Any hopes of a quick resolution with China are fading quickly."

China allowed the yuan to fall below the key 7-to-the-dollar level, after President Donald Trump's threat last week to impose further tariffs of 10% on $300 billion of imports from China. The move has sparked a sharp selloff in global stock markets, with the Dow Jones Industrial Averagedown more than 500 points in early trade (

Tom Elliott, international investment strategist at Devere Group, a financial advisory organization, said the weaker yuan will export deflationary pressure around the world's manufacturing industries.

See:Trump says Fed should 'listen' as yuan skids below key level (

"Chinese goods, always competitive on price, will be even more competitive," said Elliott. "This is therefore bad news for manufacturers outside of China, at a time when global manufacturing is struggling with weakening demand growth and the negative impact of the U.S.-China trade dispute on their supply lines and profits."

See: Why U.S. stocks remain vulnerable as Trump trade tweets revive global growth jitters (

This time, the tariffs will apply to consumer goods, sweeping up a broader range of companies than earlier tariffs, including apparel and footwear companies. Those companies were mostly excluded from the 25% tariffs already imposed on $250 billion of goods from China, apart from accessories such as handbags, textiles, leather and cotton.

Read:Gap, Kohl's, Nordstrom among retail stock declines after Trump announces tariffs (

Against that background, Allen Edmonds and Dr. Scholl's parent Caleres Inc.(CAL)was down 4.3% and Sperry and Hush Puppies parent Wolverine World Wide Inc.(WWW)was down 1.9%. Nike Inc.(NKE)was down 1.9%, and Skechers USA was down 4.2%.

The Consumer Discretionary Select Sector SPDR Fund (XLY) was down 2%.

Don't miss:The trade war is making U.S. pork producers squeal (

Shares of Apple Inc.(AAPL) , which both makes products in China and sells them there, were down 4%, while Best Buy(BBY)was down 4.8%. Department-store chain Kohls Corp.(KSS)was down 3.8%, and Nordstrom Inc.(JWN)was down 3.4% and Macy's Inc.(M)5.7%.

Other companies with sizable amounts of revenue coming from China were also sharply lower. Caterpillar Inc.(CAT)was down 2.3%, FedEx Corp.(FDX)was down 3.6%.

A.O. Smith Corp.(AOS) , which sells heating and cooling systems along with air-purification systems in China, was down 1.7%.

The Industrial Select Sector SPDR Fund(XLI)was down 2.1%.

See:Retailers including Walmart warned the trade war will cost U.S. households -- JPMorgan says it already is (

In the chip sector, Intel Corp.(INTC)was off 3.3%, Advanced Micro Devices Inc.(AMD)was down 4.1%. The PHLX Semiconductor Indexwas down 3.8%.

Chinese ADRs were caught up in the downdraft. E-commerce giant Alibaba Group Holding Inc.(BABA)was down 2.8%, electric car maker Nio Inc.(NIO)was down 7%, internet giant Inc.(JD)was down 5%, streaming company iQiyi Inc.(IQ)was down 4% and shopping app Pinduoduo Inc.(PDD)was down 4.7%.

All 30 components of the Dow Jones Industrial Average were lower. The S&P 500was down 2%, and the Nasdaq Compositewas saddled with a 200-plus-point decline.

See also: This is why large retailers like Amazon, Walmart & Costco won't be as impacted by fresh tariffs (

-Ciara Linnane; 415-439-6400;

(END) Dow Jones Newswires

August 06, 2019 06:55 ET (10:55 GMT)

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