J.M. Smucker Co.’s pet-food business grew more slowly than Wall Street analysts expected in the latest quarter, but the company remains convinced by its bet on owners of dogs and cats.
The U.S. pet-food market has emerged as a focus for packaged-food companies, fueling two multibillion-dollar deals last year. Consumers are looking for better products for their pets and are willing to spend to get them, executives say.
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