J.M. Smucker to Take $125 Million Hit From Jif Peanut Butter Recall

J.M. Smucker to Take $125 Million Hit From Jif Peanut Butter Recall
Smucker's Goober Strawberry and Jif peanut butter, brands owned by The J.M. Smucker Company, for sale in a store in Manhattan, New York, on Nov. 22, 2021. Andrew Kelly/Reuters
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J.M. Smucker Co. on Tuesday warned of a $125 million hit in the full year from the recall of certain Jif peanut butter products following possible salmonella contamination.

The recall would also have a 90 cent impact on the Folgers coffee maker’s profit, the Ohio-based company said, sending its shares down 3 percent in premarket trading.