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McCormick reports strong sales in second quarter
McCormick reports strong sales in second quarter

McCormick & Co. saw its profit jump nearly 8 percent in the second quarter amid higher sales to consumers as well as to food manufacturers and restaurants, the Sparks-based spice maker said Thursday. But higher-than-expected earnings, mostly driven by a lower-than-expected tax rate, masked the company's competitive struggles in the United States, as lower-priced rivals vie to crowd out the well-known brand on store shelves, one analyst said. McCormick's shares slipped Thursday after results came in weaker than expected, closing down almost 1.3 percent at $70.27 each. "They are losing share in the U.S. on the consumer side, with smaller players coming in the market and...

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