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McCormick profits, sales down in second quarter

McCormick profits, sales down in second quarter

Profit at McCormick & Co. Inc. fell slightly in the second quarter as special charges cut into operating income and sales were hurt by unfavorable currency exchange rates, the Sparks-based spice maker reported Wednesday. McCormick's shares fell 1.7 percent to close at $79.57 on the New York Stock Exchange, possibly reflecting concern over earning expectations for the second half of the year and a continuing loss of market share to private labels and smaller competitors at U.S. retailers. "That's the biggest concern, the loss of market share in the consumer business in the U.S.," from a company that had long been accustomed to gaining on its rivals, said Brian...

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