Why Hain Celestial Stock Tumbled This Week
Week to date, shares of Hain Celestial Group (NASDAQ: HAIN) were down 17% as of Friday morning, according to data provided by S&P Global Market Intelligence. Investors were disappointed with the company's earnings results released earlier this week. Sales were down again, and management guided for more of the same in the near term.
Year to date, the stock is down 11%, extending the stock's multiyear slide to 48% over the last five years.
Hain is a leading supplier of organic and natural food brands. While the company saw strong sales of Greek Gods yogurt and Earth's Best brands in the U.S., overall sales fell 9% year over year. The performance stands out against larger brands like PepsiCo's snack foods, which reported a double-digit increase in sales last quarter.
Source Fool.com
